Amitabh Bachchan, SRK-backed realtor Sri Lotus Developers sets IPO price band at ₹140–150; aims to raise ₹792 cr

Sri Lotus Developers and Realty, backed by Bollywood icons Amitabh Bachchan, Shah Rukh Khan, Hrithik Roshan, and ace investor Ashish Kacholia, on Thursday unveiled the price band for its upcoming initial public offering (IPO), which is set to debut on Dalal Street on July 30, 2025. The Mumbai-based real estate developer has set the price band at ₹140-150 per share, aiming to raise ₹792 crore at the upper end of the issue price.

The IPO will open for subscription on July 30 and close on August 1, 2025. The anchor book will open for a day on July 29, while share allotments to eligible applicants are expected to be finalised on August 4, 2025. The company’s shares are slated to be listed on the BSE and NSE on August 6, 2025.

Investors can bid for a minimum of 100 of equity shares and in multiples thereafter. The company has reserved half of the issue for qualified institutional buyers (QIB), up to 15% for non-institutional investors, and remaining 35% for retail investors. The company has proposed a discount of ₹14 per equity shares to eligible employees bidding in the employee reservation portion.

The IPO, having a face value of ₹1, is a complete issue of fresh equity shares with no offer for sale (OFS) component. The real estate developer, engaged in construction of residential and commercial premises in Mumbai, intends to use IPO proceeds to invest in its subsidiaries for funding development and construction cost of their ongoing projects.

Out of ₹792 crore, Sri Lotus Developers will utilise up to ₹550 crore for investment in its subsidiaries, Richfeel Real Estate Private Limited, Dhyan Projects Private Limited and Tryksha Real Estate Private Limited. A part of the capital will be used to meet general corporate purposes, as per the DRHP.

Established in 2005, Sri Lotus Developers focuses on redevelopment projects in the ultra luxury segment and luxury segment in the western suburbs under the “Lotus Developers” brand. The company’s projects fall into three categories: greenfield projects, redevelopment projects, and joint development projects.

As of June 30, 2025, the company has completed developable area of 0.93 million square feet consisting of both residential and commercial properties. So far, the company has completed four projects, while five are ongoing and another eleven are upcoming projects.

The company focuses on primarily on ultra-luxury and luxury residential properties and commercial properties through construction and development of 2BHK and 3 BHK flats with a price range of ₹3 crore to ₹7 crore.

On the financial front, the company's revenue from operations increased by 176.61% from ₹166.87 crore in fiscal 2023 to ₹461.57 crore in fiscal 2024. Profit after tax increased by 635.57% to ₹119.81 crore from ₹16.29 crore in the previous fiscal. For the six months ended September 30, 2024, revenue from operations stood at ₹243.42 crore, and profit was at ₹90.63 crore.

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.

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