Latest news with #SriLotusDevelopersandRealty
Indian Express
21-05-2025
- Entertainment
- Indian Express
Shah Rukh Khan, Amitabh Bachchan invest over Rs 10 cr each in friend's real estate firm; Hrithik Roshan, Ajay Devgn join in
Shah Rukh Khan and Amitabh Bachchan have reportedly invested Rs 10.1 crore and Rs 10 crore, respectively, in Sri Lotus Developers and Realty, a real estate firm owned by Anand Pandit, who also works as a film producer. According to Economic Times, the firm has also received an investment from Hrithik Roshan, Ajay Devgn, Ektaa Kapoor, Sara Ali Khan, Tiger Shroff, and Rajkummar Rao. As per the report, the firm has received SEBI's green signal for a Rs 792 cr IPO. Previously, in December, they raised Rs 400 crore by issuing shares at R 150 each. Shah Rukh Khan Family Trust bought 6.75 lakh shares for Rs 10.1 crore and Amitabh Bachchan invested Rs 10 crore. Both SRK and Bachchan live in luxury mansions in Mumbai, which have become popular tourist attractions. The two stars also own significant properties across the country. ALSO READ | Shah Rukh Khan left quietly after I told him 'nas kaat lungi', recalls Wamiqa Gabbi: 'There was pin-drop silence on the sets of Baby John' Recently, Anand Pandit spoke about his real-estate firm in a chat with SCREEN and cited Amitabh Bachchan's film Trishul as an early inspiration. 'I have grown up watching Amitabh Bachchan's films. His film, Trishul, really inspired me and motivated me to leave Ahmedabad and move to Mumbai. And I also wanted to have my own Shanti Construction Company, and fortunately today I have made Lotus Developers. His character Vijay inspired me to be where I am today. It is all because of Bachchan sahab,' he said. He also shared that he eventually bought the property next to Big B's house, Jalsa, for Rs 50 crore in 2013, and when the star wanted to expand his property, he sold it to him. 'I was an ardent fan who had grown up watching his films and a twist of fate then made me his neighbour when I bought a bungalow next to his. I eventually ended up selling it back to him and that is when we grew closer,' he said. At Anand's birthday party recently, Shah Rukh joked that the businessperson owns a vast chunk of Mumbai. 'In the night, at 12-1 am, he comes visits me and we roam around Juhu. He doesn't tell me, 'This is my building, that is my building.' Instead, in the two-kilometre drive, he tells me barring two to three buildings, all buildings are his. Our journey becomes easy,' Shah Rukh said.
Time of India
20-05-2025
- Business
- Time of India
Sri Lotus Developers and Realty gets Sebi nod for ₹792 crore IPO
NEW DELHI: Sri Lotus Developers and Realty has received final approval from the Securities and Exchange Board of India (SEBI) to raise Rs 792 crore through an initial public offering (IPO). The company had filed its IPO papers with Sebi on December 24, 2024. The IPO, with a face value of Re 1, is a fresh issue of shares up to Rs 792 crore with no offer-for-sale component. Amitabh Bachchan , Shah Rukh Khan , Ajay Devgn, Hrithik Roshan, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff, and Rajkumar Rao, all have recently bought small stakes in the company. In the month of December, the company had raised approximately ₹400 crore through a private placement of 26.61 million shares at Rs 150 per share. Amitabh Bachchan purchased around 6.7 lakh shares for Rs 10 crore, while the Shah Rukh Khan Family Trust acquired about 6.75 lakh shares for Rs 10.1 crore. Other notable investors include Hrithik Roshan, who bought 70,000 shares for slightly over Rs 1 crore. Ashish Kacholia purchased 33.33 lakh shares for Rs 50 crore. The proceeds from the fresh issue to the extent of ₹550 crore will be used for investment in its subsidiaries, Richfeel Real Estate, Dhyan Projects and Tryksha Real Estate for part-funding development and construction cost of its ongoing projects. As of November 30, 2024, the company has three completed projects, six ongoing projects, and seven upcoming projects. The company's revenue from operations increased by 176.61% from ₹166.87 crore in FY23 to ₹461.57 crore in FY24. Profit after tax increased by 635.57% to ₹119.81 crore in FY24 to ₹16.29 crore in FY23. For the six months ended September 30, 2024, revenue from operations stood at ₹243.42 crore, and profit after tax stood at ₹90.63 crore. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers and KFin Technologies is the registrar of the issue.
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Business Standard
20-05-2025
- Business
- Business Standard
Sebi nod to seven IPOs including Credila Financial and Sri Lotus Realty
The Securities and Exchange Board of India (Sebi) has approved initial public offering (IPO) of seven companies, namely Credila Financial Services, Caliber Mining and Logistics, Sri Lotus Developers and Realty, Jesons Industries, Gem Aromatics, Euro Pratik Sales, and Jaro Institute of Technology and Management. Education loan provider Credila's ₹5,000 crore IPO comprises both fresh issue and offer for sale. In March 2024, the HDFC Bank had completed the stake sale in HDFC Credila Financial Services to private equity companies BPEA EQT and ChrysCapital for ₹9,553 crore. Ashish Kacholia-backed realty firm Sri Lotus Developers and Realty's IPO will be a fresh issue for ₹792 crore. The company focuses on redevelopment projects in the luxury segment in Mumbai and boasts investments from several Bollywood actors. Coal extraction and logistics company Caliber Mining and Logistics' IPO consists of a ₹500 crore fresh issue and ₹100 crore OFS from promoter selling shareholders. On the other hand, Euro Pratik plans to float a ₹730 crore public issue, which is entirely an OFS by promoters. Investment bankers have indicated that many companies whose IPOs were approved are now lining up for listing with sentiments improving in the market.
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Business Standard
20-05-2025
- Business
- Business Standard
Ashish Kacholia-backed Sri Lotus Developers gets Sebi nod for ₹792-cr IPO
Sri Lotus Developers IPO: Sri Lotus Developers and Realty, the real estate developer backed by Bollywood stars and investor Ashish Kacholia, has received the approval from the Securities and Exchange Board of India (Sebi) for a ₹792 crore initial public offering (IPO). The Mumbai-based company focuses on redevelopment projects in the ultra-luxury and luxury segment in the western suburbs. The company had filed its draft papers with Sebi on December 24, 2024. According to the draft red herring prospectus (DRHP), the company plans to use ₹550 crore from the net issue proceeds for investment in subsidiaries Richfeel Real Estate, Dhyan Projects and Tryksha Real Estate for part-funding development and construction costs of ongoing projects like Amalfi, The Arcadian and Varun, respectively. The remaining funds will be used for general corporate purposes. In December 2024, the company raised around ₹400 crore through a private placement of 26.61 million shares at Rs 150 per share. Prominent Bollywood personalities, including Amitabh Bachchan, the Shah Rukh Khan Family Trust, and Hrithik Roshan, were among the key investors. Investor Ashish Kacholia also purchased 3.3 million shares for ₹50 crore. According to DRHP, KFin Technologies Limited is the registrar of the issue. Monarch Networth Capital Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers. The shares are proposed to be listed on the National Stock Exchange (NSE) and the BSE. About Sri Lotus Developers Mumbai-based Sri Lotus Developers is led by promoter Anand Kamalnayan Pandit. The company's projects fall into three categories: Greenfield Projects, Redevelopment Projects, and Joint Development Projects. In the financial year 2023-24 (FY24), the company reported revenue from operations of ₹461.57 crore, up 176.61 per cent from ₹166.87 crore in FY23. Profit after tax (PAT) increased over six times to ₹119.81 crore in FY24 compared to ₹16.29 crore in FY23. For the six months ended September 30, 2024, the company's revenue from operations stood at ₹243.42 crore, and PAT stood at ₹90.63 crore.
Economic Times
20-05-2025
- Business
- Economic Times
Bollywood and big money: SRK-backed IPO to hit the markets soon after Sebi nod
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shah Rukh Khan is betting on Mumbai's luxury skyline. Sri Lotus Developers and Realty, a real estate firm backed by SRK's family trust, Amitabh Bachchan Hrithik Roshan , and ace investor Ashish Kacholia, received Sebi's green light for a Rs 792 crore company, known for ultra-luxury redevelopment projects in Mumbai's western suburbs, plans to raise the entire amount via a fresh issue with no offer-for-sale component. IPO papers were filed in December 2024, and with the final nod in place, the glitzy real estate play is now ready for the public a pre-IPO private placement in December, Sri Lotus raised Rs 400 crore by issuing shares at Rs 150 apiece. Shah Rukh Khan Family Trust picked up 6.75 lakh shares for Rs 10.1 crore, while Amitabh Bachchan invested Rs 10 Roshan, Ajay Devgn, Ektaa Kapoor, Sara Ali Khan, Tiger Shroff, and Rajkummar Rao also picked up stakes, joining a star-studded investor roster. Ashish Kacholia took the biggest slice of about Rs 50 crore for over 33 lakh by industry veteran Anand Kamalnayan Pandit, Sri Lotus Developers has built a reputation in Mumbai's premium property circuit. The firm is deeply entrenched in redevelopment and joint development projects, focusing on 2BHK and 3BHK homes priced between Rs 3 crore and Rs 7 crore, and penthouses and 4 BHK homes in the Rs 7 crore-plus of the IPO proceeds, Rs 550 crore will be channelled into its subsidiaries viz. Richfeel, Dhyan Projects, and Tryksha for ongoing projects like Amalfi, The Arcadian, and Varun. The rest will go towards general corporate company's financials show a meteoric rise. Revenue jumped from Rs 166.87 crore in FY23 to Rs 461.57 crore in FY24, a growth of nearly 177%. Profit after tax soared more than six times to Rs 119.81 crore. For the first half of FY25 alone, revenue hit Rs 243.42 crore with Rs 90.63 crore in profit. Monarch Networth and Motilal Oswal are acting as the lead managers and KFin Technologies as registrar.
