Bollywood's Finest Back Sri Lotus Developers' IPO

Sri Lotus Developers & Real Estate, a name synonymous with ultra-luxury residential and upscale commercial real estate in Mumbai, is gearing up for a star-studded IPO. The company, backed by Bollywood heavyweights like Amitabh Bachchan, Shah Rukh Khan, Ajay Devgn, Hrithik Roshan, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff, and Rajkumar Rao, is looking to raise approximately Rs 1,000 crore.

Earlier this month, the company made private placements of over 2.7 crore shares to 125 individuals, including several Bollywood stars and financial sector names such as Ashish Kacholia and Jagdish Master. The shares were placed at Rs 150 each, raising about Rs 407.6 crore. Notably, Amitabh Bachchan acquired 6.7 lakh shares for Rs 10 crore, while Shah Rukh Khan Family Trust bought 6.75 lakh shares for Rs 10.1 crore. Other notable purchases include Hrithik Roshan's 70,000 shares for over Rs 1 crore.

Sources indicate that many of these Bollywood stars already own residential and commercial spaces in Lotus Developers' properties, further solidifying their investment in the company's future.