Sri Lotus Developers and Realty Ltd, backed by Shah Rukh Khan’s family trust, Amitabh Bachchan, Hrithik Roshan, and investor Ashish Kacholia, is set to launch its Initial Public Offering (IPO) to raise around โน792 crore. The company will focus on redeveloping old Mumbai buildings into luxury apartments priced between โน10 crore and โน50 crore.
The developer has completed 0.93 million sq ft of developable area, with a future pipeline exceeding 1.8 million sq ft. Its portfolio includes four completed projects, five ongoing ones, and 11 upcoming developments in areas such as Andheri, Juhu, Bandra, and South Mumbai.
Anand Pandit, Chairman and Managing Director of Lotus Developers, said, “Going further, our plan is to focus on products in the โน10 crore to above โน50 crore price range. We want to focus on luxury and ultra-luxury projects, considering that is what our focus has been.”
The company plans to expand its reach in southern and central regions of Mumbai, such as Nepean Sea Road and Prabhadevi, and eastern suburbs of Mumbai, such as Ghatkopar. Sri Lotus Developers had raised approximately โน400 crore through a private placement of shares in December 2024, with Bollywood star Amitabh Bachchan and Shah Rukh Khan’s family trust among the investors.
Image Courtesy: Hindustan Times
