Lotus Developers IPO to open on July 30; price band set at Rs 140-150

Sri Lotus Developers announces a Rs 792 crore IPO with a price band of Rs 140-150, opening on July 30 and closing on August 1

Sri Lotus Developers and Realty’s ₹792 crore initial public offering (IPO) will open on Wednesday, July 30, with a fixed price band of ₹140-150 per equity share. At the top end of the price band, the company is valued at ₹7,331 crore. 

 

The IPO, which closes on August 1, is entirely a fresh issue with no offer for sale component. Sri Lotus develops residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra-luxury (more than ₹7 crore) and luxury (₹3-7 crore) segments, particularly across the western suburbs under the ‘Lotus Developers’ brand. 

The company aims to use the net proceeds of the issue to invest in its subsidiaries for part-funding development and construction costs of its ongoing projects and general corporate purposes. 

 

The company’s promoters are Anand Pandit – a film producer, Roopa Anand Pandit, and Ashka Anand Pandit. 

According to the draft red herring prospectus filed by the company, the trio held 80.76 per cent in the company ahead of the IPO. 

 

The company was founded by Anand Pandit, and its investors include actors like Amitabh Bachchan, Shah Rukh Khan, and Hrithik Roshan.

 

In December 2024, the company raised about ₹407.6 crore through a private placement. 

 

Bachchan and Khan had subscribed to shares worth ₹10 crore each. 

 

The company’s other investors are Ashish Kacholia, Hritik Roshan, Ekta Kapoor, Tusshar Kapoor, Jeetendra, Tiger Shroff, Rakesh Roshan, Sajid Nadiadwala, and Manoj Bajpayee.

 

Sri Lotus' revenue from operations increased by 19.09 per cent year-on-year (Y-o-Y) to ₹549.68 crore in the 2024-25 (FY25), primarily due to an increase in sales of projects and sales of services. Profit after tax increased by 90.21 per cent Y-o-Y to ₹227.89 crore in FY25.

 

As of June 30, 2025, the company has completed a developable area of 0.93 million square feet (msf) consisting of both residential and commercial properties. The company has completed four projects and has five ongoing projects and 11 upcoming projects. 

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