Sri Lotus IPO: No gains yet for Shah Rukh, Amitabh Bachchan and Ashish Kacholia as issue price matches buying price
The company has set the IPO price band at Rs 140 - Rs 150 per equity share, which is the same as the price at which Sri Lotus allotted shares to the 118 investors, including the Bollywood stalwarts and Kacholia.
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The equity shares were allotted in 2024 at a price of Rs 150 apiece on a private placement basis.
The Shah Rukh Khan Family Trust holds 675,000 shares investing Rs 10.1 crore while Amitabh Bachchan bought 666,670 shares at a cost of Rs 10 crore at the time of the private placement according to the Red Herring Prospectus (RHP) filed by the company. Meanwhile, Hrithik Rakesh Roshan and father Rakesh Roshan hold 70,000 shares each in the company.
Kacholia had to shell out nearly Rs 50 for 3,333,300 equity shares.
The
Sri Lotus Developers IPO
will close for subscription on August 1.
Sri Lotus Developers raised Rs 399.20 crore through a private placement to 118 individuals and entities before filing its Draft Red Herring Prospectus (DRHP) in December 2024. The December round also attracted other celebrities like Ektaa Ravi Kapoor, her brother Tusshar Kapoor and their father Jeetendra.
According to the Red Herring Prospectus, King Khan invested Rs 1.01 crore, while Amitabh Bachchan invested Rs 1 crore, both at Rs 150 per share during the private placement round.
The company drew significant interest from Bollywood because its promoter, Anand Kamalnayan Pandit, is also a prominent film producer and distributor.
Other marquee investors like Jagdish Master and DRChoksey Finserv have also invested in the company.
Through the IPO, which is a book building issue, Sri Lotus Developers plans to raise 792 crores.
Incorporated in February 2015, Sri Lotus Developers and Realty Limited is a developer of residential and commercial properties located in Mumbai, Maharashtra, specializing in redevelopment projects within the ultra-luxury and luxury segments of the western suburbs.
As of June 30, 2025, the company held a developable area of 0.93 million square feet, encompassing residential and commercial properties. As of June 30, 2025, the company has 4 Completed Projects, 5 Ongoing Projects and 11 Upcoming Projects.
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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