Lotus Developers IPO: Mumbai’s actual property firm Shree Lotus Developers & Realty is about to launch its IPO, for which the corporate has filed draft papers with the inventory market regulator SEBI. But probably the most shocking factor is that Bollywood stars even have stake on this firm. Among the buyers of this firm, Bollywood’s Shahenshah Amitabh Bachchan and King Khan Shahrukh Khan usually are not solely there however Manoj Bajpayee and Tiger Shroff even have stake within the firm. Veteran inventory market investor Ashish Kancholia has additionally invested in Shree Lotus Developers and Realty.
Preparation to lift Rs 792 crore via IPO
Sri Lotus Developers and Realty has filed draft papers with SEBI to lift Rs 792 crore via IPO. In this IPO, your entire cash will probably be raised by issuing new shares and no buyers or promoters within the firm are promoting their stake within the IPO. The firm’s promoters maintain 91.78 p.c stake in Lotus Developers and the remaining 8.22 p.c stake is held by Bollywood stars, Ashish Kancholia, NAV Capital, Dovetail Global Fund, Minerva Ventures and OpBasket.
Amitabh Bachchan and Shahrukh are buyers of the corporate
Ashish Kancholia had purchased 33.33 lakh shares by investing Rs 50 crore within the firm. Apart from this, Shahrukh Khan Family Trust, Amitabh Bachchan, Ekta Ravi Kapoor, Tusshar Ravi Kapoor, Jeetendra, Tiger Jackie Shroff, Rajkumar Yadav, Hrithik Roshan, Sajid Nadiadwala and Manoj Bajpayee have purchased 19.28 lakh shares for Rs 28.92 crore. The promoters of Lotus Developers are Anand Kamalnayan Pandit, Rupa Anand Pandit and Ashka Anand Pandit.
Company current in ultra-luxury and luxurious phase
Lotus Developers & Realty builds residential and industrial initiatives and can also be current within the ultra-luxury and luxurious segments. The quantity being raised within the IPO will probably be invested within the firm’s subsidiary. Monarch Networth and Motilal Oswal Investment Advisors are the bankers to the IPO and Kfin Technology is the registrar.
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