Latest news with #Varun
Hans India
2 hours ago
- Business
- Hans India
AHUDA chief holds review on regularisation of layouts
Anantapur: It is known that Andhra Pradesh State government has issued orders on July 27, through G.O. No. 134, regarding amendments to the Regularization of Unauthorized Layouts and Plots Rules 2020 in the State. Regarding these amendments, AHUDA Chairman TC Varun held a review meeting with the relevant officials at the local AHUDA office. On this occasion, Chairman Varun said that the government has examined and approved the proposal to extend the cut-off date of the LRS scheme till 30-06-2025 as per the reports received by the government that the layouts are causing loss of revenue and people are facing difficulties in obtaining building permits. He said that since this opportunity is only for one time, steps should be taken to ensure that all the people take advantage of it. Chairman Varun clarified that no building permits will be obtained in unauthorized layouts in future. According to the new LRS Rules, 2020 Amendments, in order to be eligible for LRS, the registration of plots (in the form of sale deed or title deed) in unauthorized layouts should have been done before 30.06.2025, and at least one plot should have been sold before 30.06.2025. He also informed that within 90 days from the date of implementation of these amended rules, every owner of a plot in an unauthorized layout must apply for regularization of the plot/layout. AHUDA planning officer Ishaq, EE Dushyant, JPO Harish Chaudhary, DEE Revanth, Saraswati and others participated in this meeting.
Business Standard
16 hours ago
- Business
- Business Standard
Sri Lotus Developers and Realty IPO subscribed 10.34 times
The offer received bids for 40.99 crore shares as against 3.96 crore shares on offer. The initial public offer of Sri Lotus Developers and Realty received bids for 40,99,20,100 shares as against 3,96,58,730 shares on offer, according to stock exchange data at 17:00 IST on Thursday (31 July 2025). The issue was subscribed 10.34 times. The issue opened for bidding on 30 July 2025 and it will close on 1 August 2025. The price band of the IPO is fixed between Rs 140 and 150 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof. The offer comprises a fresh issue of equity shares worth up to Rs 792 crore. Of the net proceeds, the company intends to invest Rs 550 crore in its subsidiariesRichfeel Real Estate, Dhyan Projects, and Tryksha Real Estateto partially fund the development and construction of its ongoing projects: Amalfi, The Arcadian, and Varun. The remaining amount will be used for general corporate purposes. Sri Lotus Developers & Realty, promoted by Anand Kamalnayan Pandit, is a Mumbai-based real estate developer focused on ultra-luxury and luxury residential and commercial projects in the western suburbs of the Mumbai Metropolitan Region (MMR). Operating under the Lotus Developers brand, the company has completed four projects with a developable area of 0.93 million sq ft and currently has five ongoing and eleven upcoming projects. With over 24 years of experience, the promoter has developed 3.32 million sq ft across 12 projects through other entities. The company primarily undertakes redevelopment, joint development, and greenfield projects and heavily relies on third-party contractors for construction. Ahead of the IPO, Sri Lotus Developers and Realty on Tuesday, 29 July 2025, raised Rs 236.99 crore from anchor investors. The board allotted 1.57 crore shares at Rs 150 each to 16 anchor investors. The firm reported a consolidated net profit of Rs 227.41 crore and sales of Rs 549.68 crore for the twelve months ended on 31 March 2025.
News18
17 hours ago
- Business
- News18
Sri Lotus Developers IPO booked 10.34 times on day 2 of offer
New Delhi, Jul 31 (PTI) The initial share sale of Sri Lotus Developers and Realty Ltd, a real estate company backed by Bollywood stars and renowned investor Ashish Kacholia, got subscribed 10.34 times on Thursday, the second day of bidding. The initial public offer (IPO) received bids for 40,99,20,100 shares against 3,96,58,730 shares on offer, according to data available with the NSE. The category for non-institutional investors got subscribed 15.95 times while the portion for Retail Individual Investors (RIIs) garnered 8.89 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 8.69 times. Sri Lotus Developers on Tuesday raised Rs 237 crore from institutional investors. The initial public offering (IPO) will conclude on Friday. The company has fixed a price band of Rs 140-150 per share for the IPO. The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component. Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes. The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the public issue. PTI SUM SUM SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
New Indian Express
a day ago
- New Indian Express
Liquor scam case: SIT seizes Rs 11 cr from farmhouse in Telangana
VIJAYAWADA: In a major development, the Special Investigation Team (SIT) probing the alleged multi-crore liquor scam during the previous YSRCP regime, raided a farmhouse at Shamshabad in Telangana, and seized Rs 11 crore in cash. The seized money is said to be the kickbacks collected by the prime accused Kesireddy Rajasekhar Reddy alias Raj Kesireddy through his personal assistant Chanikya from distilleries, and commissions. The surprise raid on the farmhouse was conducted in the early hours of Wednesday, based on a confession made by Varun Purushottam (A40), a close aide of Raj Kesireddy. Varun fled to the USA last November after an FIR was registered by CID in the Rs 3,500 crore liquor scam. Following the ACB court's nod to issue non-bailable warrants against the accused, who are at large, Varun communicated to SIT that he was willing to surrender. Varun was taken into custody at Shamshabad Airport on Tuesday night. 'Based on the revelation that he hid the cash in June 2024 as per the instructions of Raj Kesireddy (A1) and Chanikya (A8), we raided the farmhouse belonging to Sulochana, mother of Teegala Vijayender Reddy, and seized Rs 11 crore,' said a senior SIT official.
Time of India
a day ago
- Business
- Time of India
Sri Lotus Developers IPO subscribed 3.59 times on day 1
NEW DELHI: Sri Lotus Developers and Realty Ltd, a real estate company backed by Bollywood stars and renowned investor Ashish Kacholia , saw its initial public offer getting subscribed 3.59 times on the first day of bidding on Wednesday. The IPO received bids for 14.23 crore (14,23,86,800) equity shares against 3.96 crore (3,96,58,730) equity shares on offer, according to data available with the NSE. Qualified Institutional Buyers' (QIBs) category attracted 5.31 times subscription while the quota for non institutional investors got subscribed 3.10 times. Retail Individual Investors (RIIs) part fetched 2.82 times subscription. Sri Lotus Developers on Tuesday raised Rs 237 crore from institutional investors. The initial public offering (IPO) will conclude on August 1. The company has fixed a price band of Rs 140-150 per share for the IPO. The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component. Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes. The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book running lead managers of the public issue.
