Sri Lotus Developers IPO: Latest GMP suggests SRK, Big B and Ashish Kacholia may pocket 28% gains
ADVERTISEMENT The equity shares were allotted in 2024 for Rs 150 apiece to SRK, Big B, the Roshan family and veteran investor Ashish Kacholia.
Sri Lotus Developers' IPO saw robust demand across all investor categories, with an overall subscription of 69.14 times. The retail portion was subscribed 20.28 times, non-institutional investors (NII) bid 57.71 times their quota, while qualified institutional buyers (QIBs) led with an overwhelming 163.90 times subscription.
The Shah Rukh Khan Family Trust holds 6,75,000 shares, investing Rs 10.1 crore. If Sri Lotus Developers' stock is listed for Rs 192, the profits for King Khan would be Rs 2.83 crore.Amitabh Bachchan bought 666,670 shares for Rs 10 crore at the time of the private placement, according to the Red Herring Prospectus (RHP) filed by the company. The likely gains for Big B could be to the tune of Rs 2.8 crore.
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Hrithik Rakesh Roshan and his father Rakesh Roshan hold 70,000 shares each in the company. Their gains would be Rs 29.40 lakh each.
ADVERTISEMENT Kacholia had to shell out nearly Rs 50 crore for 3,333,300 equity shares. His gains could be to the tune of Rs 13.99 crore.Sri Lotus Developers raised Rs 399.20 crore through a private placement to 118 individuals and entities before filing its Draft Red Herring Prospectus (DRHP) in December 2024. The December round also attracted investment from other celebrities like Ektaa Ravi Kapoor, her brother Tusshar Kapoor and their father Jeetendra.
ADVERTISEMENT The company drew significant interest from Bollywood because its promoter, Anand Kamalnayan Pandit, is also a prominent film producer and distributor.Other marquee investors like Jagdish Master and DRChoksey Finserv have also invested in the company.
ADVERTISEMENT Through the IPO, which was a book building issue, Sri Lotus Developers plans to raise 792 crores.Incorporated in February 2015, Sri Lotus Developers and Realty Limited is a developer of residential and commercial properties located in Mumbai, Maharashtra, specializing in redevelopment projects within the ultra-luxury and luxury segments of the western suburbs.As of June 30, 2025, the company held a developable area of 0.93 million square feet, encompassing residential and commercial properties.
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