Sri Lotus Developers & Realty files DRHP with SEBI for Rs 792 crore IPO
Prospectus (DRHP) with capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise Rs 792 crore through Initial Public Offering (IPO).
The company focused on redevelopment projects in the luxury segment in the city’s western suburbs has already raised around Rs 400 crore through a private placement of 26.61 million shares at Rs 150 per share.
Among key investors, Amitabh Bachchan and Shah Rukh Khan Family Trust have invested Rs 10 crore each. Hrithik Roshan has invested over Rs 1 crore and investor Ashish Kacholia has invested Rs 50 crore.
The public issue of equity shares, with a face value of Re 1, is a fresh issue of shares with no offer-for-sale component.
The proceeds from the fresh issue to the extent of Rs 550 crore will be used for Investment in its subsidiaries for part-funding development and construction cost of its ongoing projects; and general corporate purposes.
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