SOURCE : BOLLYWOOD HUNGAMA
In December 2024, Bollywood Hungama reported that Shah Rukh Khan Family Trust, Amitabh Bachchan bought shares worth Rs. 10 crores in Anand Pandit’s Lotus Developers’ IPO. As for Hrithik Roshan, he bought 70,000 shares for around Rs. 1 crore. Meanwhile, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff and Rajkummar Rao also bought small stakes in the company. Now, it has come to light that Sri Lotus Developers and Realty has received final approval from SEBI for its Rs 792 crore public issue, all via fresh equity—no offer-for-sale component.
Shah Rukh Khan-backed Sri Lotus Developers and Realty IPO set to redefine Mumbai’s luxury real estate game with Rs. 792 cr issue
Anand Pandit, who owns Sri Lotus Developers and Realty, has a long association with Bollywood as many stars own commercial and residential spaces in the properties developed and managed by Lotus Developers. He then turned producer and has backed several films like Pyaar Ka Punchnama 2 (2015), Sarkar 3 (2017), Satyameva Jayate (2018), Baazaar (2018), Batla House (2019), Total Dhamaal (2019), PM Narendra Modi (2019), The Big Bull (2021), Chehre (2021), Doctor G (2022), Thank God (2022), Kabzaa (2023), Swatantrya Veer Savarkar (2024) etc.
As per an article in The Economic Times, Sri Lotus Developers and Realty, known for transforming Mumbai’s western suburbs with ultra-premium 2BHKs to sprawling penthouses, is now stepping into the public market limelight. Its IPO proceeds will fuel ambitious real estate projects under its subsidiaries—Richfeel, Dhyan Projects and Tryksha—including high-end developments like Amalfi, The Arcadian, and Varun.
The celebrity sparkle began in December 2024 during a Rs 400 crore pre-IPO placement, where shares were issued at Rs 150 apiece. The Shah Rukh Khan Family Trust grabbed 6.75 lakh shares for Rs 10.1 crore, while Amitabh Bachchan also invested Rs 10 crore. Hrithik Roshan, Ajay Devgn, Ektaa Kapoor, Sara Ali Khan, Tiger Shroff, and Rajkummar Rao joined the star-studded investor line-up. Veteran investor Ashish Kacholia led the pack with a Rs 50 crore stake, acquiring over 33 lakh shares.
Sri Lotus has made a name with joint and redevelopment ventures, targeting aspirational homeowners in the Rs 3-7 crore bracket, and luxury buyers seeking Rs 7 crore-plus homes. As per The Economic Times story, in FY24, the company’s revenue surged by nearly 177% to Rs 461.57 crore, up from Rs 166.87 crore in FY23. Net profit skyrocketed over sixfold to Rs 119.81 crore. In just the first half of FY25, Sri Lotus has already logged Rs 243.42 crore in revenue with Rs 90.63 crore in profit.
With glam, growth, and glittering numbers, this Shah Rukh Khan-backed IPO isn’t just a real estate play—it’s a red-carpet rollout for investors eyeing Mumbai’s booming luxury segment.
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