Mumbai’s famous real estate company Mr. Lotus Developers is set to launch a public issue of Rs 792 crore. The company’s IPO has received approval from the Capital Market Regulator SEBI. The company has invested money from many investors including actors Shah Rukh Khan, Amitabh Bachchan, Hrithik Roshan as well as veterans like Ashish Kacholia. The draft for IPO was deposited in December 2024.
The company develops high and real estate in Mumbai. It mainly focuses in luxury and ultra luxury sector through redevelopment projects. Under the Lotus Developers brand, the company has completed three projects. 6 projects are under construction and 7 projects are in the pipeline. Promoters of the company have developed several projects even before the establishment of the Lotus developers brand.
400 crores was raised in December 2024
In December 2024, the company raised Rs 400 crore through a private placement of 2.6 crore shares in the unlisted market and many film stars participated in this round. The Family Trust of Amitabh Bachchan and Shah Rukh Khan bought a stake of about Rs 10-10 crore in the company. Hrithik Roshan invests Rs 1 crore. Ajay Devgan, Ekta Kapoor, Sara Ali Khan, Rajkumar Rao, Tiger Shroff also participated in this funding round. Ashish Kacholia bought a share of Rs 50 crore in Shri Lotus Developers.
How to use IPO money
It is being said that only new shares will be in the IPO of Shri Lotus Developers. The company’s plan is to invest the money received from the IPO in developing existing projects and business. About Rs 550 crore is expected to be used from IPO income to complete the ongoing housing projects. The rest of the money will be spent for normal corporate purposes. Monark Networth Capital and Motilal Oswal Investment Advisors, Book Running Lead Manager for IPO.
Jainik Power and Cables IPO from 10 June; Check all details including price band, size, listing date
Film producer is also company chairman Anand Pandit
Sri Lotus is the chairman and managing director of the developers, Anand Kamalnayan Pandit, who is also a promoter of the company. He is also a film producer and distributor. His Anand Pandit Motion Pictures is a film studio, which has produced many films including Total Dhamaal, Missing, Sarkar 3, Great Grand Masti. He has also made many films, in which Amitabh Bachchan, Ajay Devgan and Emraan Hashmi have worked. However, films have always been secondary in his career. His goal is to earn a name in real estate. However, he got inspiration from films.
In a conversation with Moneycontrol, Anand said, “I saw Amitabh Bachchan’s film Trishul when I was young. In the film, he played the main character, who was the owner of a construction company called Shanti Construction. And that’s I wanted to be as an adult, a developer. The business of filmmaking has been going on for years, but my main interest has been in the reality and the main interest and the obsession is in the ritual estate.”
Listing is not only to funds projects, but also for identity
According to Anand, “I have sold offices and houses based on my personal relations and information received from people. We now have a website to provide information due to new rules and investors. Still, we have not prepared sales wrewers for our ongoing projects, but we show potential buyers the detailed plans of projects, which I see themselves and approve the projects. No, but for identity. “
Metro group of hospitals are coming IPO, size can be up to ₹ 1000 crore; When will the file file
Company’s financial position
In FY 2024, the revenue of Lotus developers increased by almost 3 times to more than Rs 467 crore compared to the earlier financial year. Profit increased to Rs 119.81 crore. The financial figures of the company’s FY 2025 have not yet been released. The company has sold offices to Devgan, Sara Ali Khan, Karthik Aryan and others. Stars often rent the campus, mostly to film or television production house.
