If you’re considering investing in an IPO, there’s an important update. The IPO of Sri Lotus Developers and Realty has opened today, Wednesday, July 30.
The company has already attracted major attention by issuing equity shares through private placement to several Bollywood celebrities.
Big names like Shah Rukh Khan, Amitabh Bachchan, the Roshan family, and veteran investor Ashish Kacholia have invested. These shares were issued in 2024 at a price of ₹150 per share.
IPO Price and Celebrity Investments
The IPO price band is set between ₹140 and ₹150 per share.
The Shah Rukh Khan Family Trust purchased 6,75,000 shares by investing ₹10.1 crore.
Amitabh Bachchan bought 6,66,670 shares for ₹10 crore.
Hrithik Roshan and Rakesh Roshan each invested in 70,000 shares.
Investor Ashish Kacholia acquired 33,33,300 shares, investing around ₹50 crore.
Other Celebrities and Funding Details
Before filing its Draft Red Herring Prospectus (DRHP) in December 2024, the company raised ₹399.20 crore through private placement from 118 investors.
Additional well-known investors include:
Ekta Kapoor, Tusshar Kapoor, and their father Jeetendra (Ravi Kapoor)
Tiger Shroff, who invested ₹50 lakh
Sajid Nadiadwala and Manoj Bajpayee, who invested amounts ranging from ₹10 lakh to ₹1 crore
The IPO attracted strong interest from Bollywood due to the company’s promoter, Anand Kamalnayan Pandit, a respected film producer and distributor.
Other prominent financial backers include Jagdish Master and DR Choksey Finserv.
Grey Market Premium (GMP) Update
According to Investorgain.com, the shares of Sri Lotus Developers were trading at a ₹44 premium in the grey market.
Based on the highest price band of ₹150, the estimated listing price is ₹194 per share, which is a 29.33% gain over the IPO price.
