Bollywood stars Shah Rukh Khan, Amitabh Bachchan, Hrithik Roshan, and Ajay Devgn, along with other prominent figures, have collectively invested approximately ₹10 crore in the real estate firm Sri Lotus Developers and Realty. This investment comes as the company gears up for its Initial Public Offering (IPO) to raise ₹792 crore.

Sri Lotus Developers and Realty, a Mumbai-based real estate developer, specializes in the construction of residential and commercial properties, with a focus on redevelopment projects in the ultra-luxury and luxury segments of Mumbai's western suburbs. The company has received final approval from the Securities and Exchange Board of India (SEBI) for its IPO, signaling a significant step forward in its growth plans.

Prior to the IPO, Sri Lotus Developers raised approximately ₹400 crore through a private placement of 26.61 million shares at ₹150 per share in December 2024. This pre-IPO placement attracted substantial interest from Bollywood celebrities and other investors. Amitabh Bachchan purchased around 6.7 lakh shares for ₹10 crore, while the Shah Rukh Khan Family Trust acquired approximately 6.75 lakh shares for ₹10.1 crore. Hrithik Roshan invested slightly over ₹1 crore for 70,000 shares. Ashish Kacholia, a well-known investor, made a significant investment of ₹50 crore, acquiring 33.33 lakh shares. Other notable Bollywood investors include Ajay Devgn, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff, and Rajkummar Rao, all of whom have recently acquired small stakes in the company.

The IPO consists entirely of a fresh issue of shares, with no offer-for-sale component. The company intends to use ₹550 crore from the IPO proceeds for investment in its subsidiaries, Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate, to partially fund the development and construction costs of ongoing projects. As of November 30, 2024, Sri Lotus Developers had three completed projects, six ongoing projects, and seven upcoming projects. The company's strategic focus on joint ventures and redevelopment projects positions it favorably in the Mumbai real estate market.

Sri Lotus Developers has demonstrated impressive financial growth. In fiscal year 2024, the company's revenue from operations increased by 176.61% to ₹461.57 crore, up from ₹166.87 crore in FY23. Profit after tax increased by 635.57% to ₹119.81 crore in FY24 from ₹16.29 crore in FY23. For the six months ended September 30, 2024, revenue from operations stood at ₹243.42 crore, and profit after tax stood at ₹90.63 crore.

The company's operations are primarily based in Mumbai, one of India's largest real estate markets. According to an Anarock Report, the Mumbai Metropolitan Region (MMR) ranked first among the top seven Indian residential real estate markets in terms of supply, absorption, and average base selling price from 2019 to 2023. Sri Lotus Developers began acquiring land in the western suburbs of Mumbai in 2017, focusing on the ultra-luxury and luxury residential markets. The company's growth is attributed to its promoter, in-depth market knowledge, design and execution capabilities, sales ability, and the trusted "Lotus Developers" brand.

Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the IPO, with KFin Technologies serving as the registrar of the issue. The involvement of Bollywood celebrities and prominent investors has generated significant buzz around the Sri Lotus Developers IPO, highlighting the increasing intersection of the entertainment and real estate industries.