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Mint
2 days ago
- Business
- Mint
Sri Lotus Developers IPO: How much bollywood stars, ace investor Ashish Kacholia will earn?
The Sri Lotus Developers and Realty IPO, set to launch on Wednesday, July 30, has issued equity shares through a private placement to several Bollywood stars. Notable figures include Shah Rukh Khan, Amitabh Bachchan, the Roshan family, and seasoned investor Ashish Kacholia. In 2024, shares were issued at a price of ₹ 150 each. All of these investors have yet to see any returns. The company's IPO is priced between ₹ 140-150 per share, which aligns with the price from its November 2024 private placement round when it raised ₹ 400 crore. At that time, shares were offered at ₹ 150 each to 118 investors—exactly matching the upper limit of the Sri Lotus Developers IPO price band. The Shah Rukh Khan Family Trust has taken 6,75,000 shares for an investment of ₹ 10.1 crore, while Amitabh Bachchan purchased 666,670 shares for ₹ 10 crore during the private placement, as detailed in the Red Herring Prospectus (RHP) submitted by the company. Additionally, both Hrithik Rakesh Roshan and his father Rakesh Roshan hold 70,000 shares each. Kacholia secured 3,333,300 equity shares for an investment of approximately ₹ 50 crore. Prior to submitting its Draft Red Herring Prospectus (DRHP) in December 2024, Sri Lotus Developers gathered ₹ 399.20 crore via a private placement to 118 individual and institutional investors. This funding round also included participation from other notable figures such as Ektaa Ravi Kapoor, her brother Tusshar Kapoor, and their father Jeetendra. Other film industry names like Tiger Shroff ( ₹ 50 lakh), Jeetendra (Ravi Kapoor), Tusshar Kapoor, Sajid Nadiadwala, and Manoj Bajpayee have made investments ranging from ₹ 10 lakh to ₹ 1 crore. The company garnered considerable interest from Bollywood largely due to its promoter, Anand Kamalnayan Pandit, a recognised film producer and distributor. Additionally, other prominent investors like Jagdish Master and DRChoksey Finserv have also supported the company. Sri Lotus Developers IPO is solely composed of a new issue, aiming to raise ₹ 792 crore. Of the total funds raised, ₹ 550 crore will be allocated to its subsidiaries—Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited—to partially cover the development and construction costs of ongoing projects: Amalfi, The Arcadian, and Varun, respectively. The lead managers for this issue are Monarch Networth Capital and Motilal Oswal Investment Advisors. Sri Lotus Developers IPO GMP is +34 . This indicates Sri Lotus Developers share price were trading at a premium of ₹ 34 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sri Lotus Developers share price was indicated at ₹ 184 apiece, which is 22.67% higher than the IPO price of ₹ 150. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Economic Times
6 days ago
- Business
- Economic Times
Sri Lotus IPO: No gains yet for Shah Rukh, Amitabh Bachchan and Ashish Kacholia as issue price matches buying price
Sri Lotus IPO opens July 30 at ₹150, same as 2024 private placement price paid by Bollywood stars and investor Ashish Kacholia. Bollywood celebrities and investor Ashish Kacholia await returns on their pre-IPO investments in Sri Lotus Developers, as the IPO opens at the same price as the 2024 private placement. The firm plans to raise ₹792 crore through the offering. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Bollywood icons Shah Rukh Khan, Amitabh Bachchan, the Roshan family, and veteran investor Ashish Kacholia are yet to make gains from their investments in Sri Lotus Developers, whose initial public offering (IPO) will open on Wednesday, July 30, company has set the IPO price band at Rs 140 - Rs 150 per equity share, which is the same as the price at which Sri Lotus allotted shares to the 118 investors, including the Bollywood stalwarts and equity shares were allotted in 2024 at a price of Rs 150 apiece on a private placement Shah Rukh Khan Family Trust holds 675,000 shares investing Rs 10.1 crore while Amitabh Bachchan bought 666,670 shares at a cost of Rs 10 crore at the time of the private placement according to the Red Herring Prospectus (RHP) filed by the company. Meanwhile, Hrithik Rakesh Roshan and father Rakesh Roshan hold 70,000 shares each in the had to shell out nearly Rs 50 for 3,333,300 equity Sri Lotus Developers IPO will close for subscription on August 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 other celebrities like Ektaa Ravi Kapoor, her brother Tusshar Kapoor and their father to the Red Herring Prospectus, King Khan invested Rs 1.01 crore, while Amitabh Bachchan invested Rs 1 crore, both at Rs 150 per share during the private placement company drew significant interest from Bollywood because its promoter, Anand Kamalnayan Pandit, is also a prominent film producer and marquee investors like Jagdish Master and DRChoksey Finserv have also invested in the the IPO, which is a book building issue, Sri Lotus Developers plans to raise 792 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 of June 30, 2025, the company held a developable area of 0.93 million square feet, encompassing residential and commercial properties. As of June 30, 2025, the company has 4 Completed Projects, 5 Ongoing Projects and 11 Upcoming Projects. Monarch Networth Capital Limited , and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.
