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Mint
20-05-2025
- Business
- Mint
Upcoming IPOs: Caliber Mining, Sri Lotus Developers, four others receive SEBI approval to float IPOs
As many as six companies including education loans-focused lender Credila Financial Services, Sri Lotus Developers and Realty, and Euro Pratik have received Sebi's go-ahead to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Tuesday. Others that received the regulator's approval to float initial share-sales are -- Caliber Mining and Logistics, Jaro Institute of Technology Management and Research, Jesons Industries and Gem Aromatics. Together, these firms aim to raise at least ₹ 3,000 crore. The Securities and Exchange Board of India (Sebi) received preliminary IPO documents from these firms between October 2024 and January 2025, and issued its observations during May 13-16, the update showed. In Sebi's parlance, obtaining the observations means its go-ahead to float the public issue. As for IPO of Credila Financial Services Ltd, formerly known as HDFC Credila Financial Services, the company filed draft papers with Sebi in December through a confidential pre-filing route. Filing the draft papers through this method allows the company to withhold public disclosure of details mentioned in the DRHP. Bollywood stars and renowned investor Ashish Kacholia-backed Sri Lotus Developers is looking to mop up ₹ 792 crore through IPO. The issue is completely a fresh issue of shares with no offer for sale (OFS) component, according to the draft papers. Proceeds from the fresh issue will be used for investment in its subsidiaries Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate Pvt Ltd, for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun. Besides, a portion will be used for general corporate purposes. Euro Pratik, a prominent player in the decorative wall panel industry, plans to float a ₹ 730 crore public issue, which is entirely an OFS by promoters. Caliber Mining and Logistics, a Nagpur-based coal mining and logistics provider, plans to mobilise ₹ 600 crore through its initial share-sale. Its IPO is a combination of fresh issue of equity shares worth up to ₹ 500 crore and an OFS of shares aggregating to ₹ 100 crore by the promoters. Proceeds will be utilised by the company towards repayment of debt, funding capital expenditure for purchase of machinery and general corporate purposes. Jaro Institute of Technology IPO Mumbai-based Jaro Institute of Technology Management and Research Limited is planning to raise ₹ 570 crore through an initial public offering (IPO). The Company had filed its IPO papers with Sebi on September 30, 2024. The IPO consists of a fresh issuance of equity shares worth ₹ 170 crore and an offer-for-sale of shares worth ₹ 400 crore by promoter Sanjay Namdeo Salunkhe. Jaro Institute of Technology Management and Research is one of India's leading online higher education and upskilling platform companies, in terms of EBIDTA, EBIDTA Margin, PAT and PAT Margin, Return on Equity ("ROE') and Return on Capital Employed ("ROCE') as of March 31, 2023, according to a Technopak Report. It is a one stop solution for a university looking to offer online, hybrid and in person degree programs and certification courses. Jaro Institute's ₹ 570-crore IPO consists of a fresh issue of shares worth up to ₹ 170 crore and OFS of shares valued at ₹ 400 crore by promoter Sanjay Namdeo Salunkhe. The company plans to utilise funds for marketing, brand building and advertising activities, payment of debt and general corporate purposes. Jesons Industries' IPO comprises a fresh issue of equity shares worth ₹ 300 crore and an offer-for-sale of 94.61 lakh shares by a promoter. Proceeds from the fresh issue will be used for repaying debt, funding capital expenditure, and general corporate purposes. The IPO of Mumbai-based Gem Aromatics, a manufacturer of specialty ingredients, is a mix of fresh issue of equity shares worth up to ₹ 175 crore and an OFS of up to 89.24 lakh shares each by the promoter and an investor. Proceeds from the fresh issue will be used by Gem Aromatics for debt repayment and general corporate purposes. Shares of these seven companies will be listed on the BSE and NSE.
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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.
Mint
20-05-2025
- Business
- Mint
Upcoming IPO: Ashish Kacholia-backed Sri Lotus Developers and Realty gets SEBI nod to launch ₹792 crore-issue
Upcoming IPO: Sri Lotus Developers and Realty Limited has received a final nod from the capital markets authority, the Securities and Exchange Board of India (SEBI), to raise ₹ 792 crore through an initial public offering (IPO). The company had filed its IPO papers with SEBI on December 24, 2024. The firm operates as a real estate developer involved in the construction of residential and commercial properties in Mumbai, Maharashtra, with a specialization in Redevelopment Projects within the Ultra Luxury and Luxury Segments in the western suburbs. In December, Sri Lotus Developers generated around ₹ 400 crore via a private placement of 26.61 million shares priced at ₹ 150 each. Among the backers, Bollywood legend Amitabh Bachchan acquired approximately 6.7 lakh shares for ₹ 10 crore, while the Shah Rukh Khan Family Trust bought about 6.75 lakh shares for ₹ 10.1 crore. Additional prominent investors include Hrithik Roshan, who purchased 70,000 shares for a little over ₹ 1 crore, and notable investor Ashish Kacholia, who invested in 33.33 lakh shares for ₹ 50 crore. The company is overseen by promoter Anand Kamalnayan Pandit, who possesses over 24 years of expertise in the real estate sector. The projects undertaken by the company are categorized into three types: Greenfield Projects, Redevelopment Projects, and Joint Development Projects. For the six-month period ending September 30, 2024, the revenue from operations amounted to ₹ 243.42 crore, while the profit after tax reached ₹ 90.63 crore. The initial public offering, which has a face value of Re 1, is a new issuance of shares totaling up to ₹ 792 crore, with no offer-for-sale component by existing shareholders. The proceeds from the fresh share issuance, amounting to ₹ 550 crore, will be utilized for investments in its subsidiaries, namely Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited, to partially fund the development and construction costs of its ongoing projects, Amalfi, The Arcadian, and Varun, respectively; as well as for general corporate purposes. Monarch Networth Capital Limited and Motilal Oswal Investment Advisors Limited serve as the book-running lead managers, while KFin Technologies Limited acts as the registrar for the issue.
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.
Time of India
20-05-2025
- Entertainment
- Time of India
Bollywood and big money: SRK-backed IPO to hit the markets soon after Sebi nod
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 IPO. The 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 market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ingin Tahu Tentang Diagnosis Limfoma? Dapatkan Info Selengkapnya Limfoma Baca Undo In 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 crore. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Hrithik 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 shares. Led 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 range. Live Events Out 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 purposes. The 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.
