Bollywood-Backed Real Estate Firm Sri Lotus Developers Anchor Round Sees Strong Institutional Demand; IPO Opens July 30th
Mumbai-based Sri Lotus Developers and Realty, a well-known player in the real estate space and backed by Bollywood stars like Amitabh Bachchan, Shah Rukh Khan and Hrithik Roshan, has raised INR 237 crore from anchor investors ahead of its much-awaited public offer. Sri Lotus Developers anchor round saw strong interest from a mix of global and domestic institutions, making it one of the most anticipated real estate IPOs of the year.
Sri Lotus Developers Anchor Investor Participation
In a pre-IPO move, Sri Lotus Developers allotted 1.58 crore shares to a host of anchor investors. The anchor book was fully subscribed with participation from global financial institutions, domestic mutual funds and major insurance companies, indicating the market’s faith in the company.
Key Allocations in Sri Lotus Anchor Round Were as Follow:
| Investor | Shares Allocated | % of Anchor Portion | Allocation Value (INR crore) |
|---|---|---|---|
| Société Générale – ODI | 30,00,200 | 18.99% | 45.00 |
| Tata Mutual Fund – Tata Small Cap Fund | 23,33,400 | 14.77% | 35.00 |
| Nippon India Equity Opportunities AIF – Scheme 9 | 13,33,400 | 8.44% | 20.00 |
| Mahindra Manulife Multi Cap Fund | 13,80,700 | 8.74% | 20.71 |
| Mahindra Manulife Mid Cap Fund | 9,52,700 | 6.03% | 14.29 |
| HSBC Small Cap Fund | 9,50,000 | 6.02% | 14.25 |
| HSBC Flexi Cap Fund | 6,66,700 | 4.22% | 10.00 |
| SBI General Insurance Co. Ltd. | 6,66,700 | 4.22% | 10.00 |
| Citigroup Global Markets Mauritius Pvt. Ltd. | 6,66,700 | 4.22% | 10.00 |
| Nomura Singapore Ltd. – ODI | 6,66,700 | 4.22% | 10.00 |
| Quant Mutual Fund – Quant Active Fund | 6,66,700 | 4.22% | 10.00 |
| Max Life Insurance Co. Ltd. | 6,66,700 | 4.22% | 10.00 |
| Mirae Asset Midcap Fund | 3,33,300 | 2.11% | 5.00 |
| Mirae Asset Large & Midcap Fund | 3,33,300 | 2.11% | 5.00 |
| PGIM India Midcap Opportunities Fund | 3,33,300 | 2.11% | 5.00 |
| PGIM India Flexi Cap Fund | 3,33,300 | 2.11% | 5.00 |
| Total | 1,58,00,000 | 100% | ₹237.00 crore |
This wide ranging response—led by global names like Société Générale and domestic giants like Tata Mutual Fund, Mahindra Manulife, HSBC, and SBI General Insurance—shows how much institutional faith is in Sri Lotus Developers’ growth story and its management team.
Sri Lotus Developers IPO Details
The company’s INR 792 cr IPO opens on 30 July and closes on 1 August and is priced at INR 140–150 per share. The proceeds will be used to invest in key subsidiaries and upcoming projects and a part will be for general corporate purposes.
Sri Lotus Developers Anchor Investors and Outlook
The company also has big names like Amitabh Bachchan, Shah Rukh Khan and Hrithik Roshan who have subscribed to the pre-IPO rounds. With such strong anchor interest and a star-studded investor base, Sri Lotus Developers is all set to make a big impact in the Indian capital markets when it lists on the BSE and NSE.
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