Mumbai-based Lotus Developers and Realty, backed by investors Ashish Kacholia and several Bollywood stars filed DRHP to the SEBI for an IPO valued at ₹792 crores. Noticeably, it is an entirely fresh issue and does not have OFS (Offer for Sale).
Lotus Developers company is in demand as Ashish Kacholia invested around ₹50 crores to acquire 33.33 lakh shares in Lotus Developers and other well-known celebrities such as Shah Rukh Khan, Amitabh Bachchan, Ekta 0Kapoor, Tusshar Kapoor, Jeetendra, Tiger Shroff, Rajkumar Yadav, Rakesh Roshan, Hrithik Roshan, Sajid Nadiadwala, and Manoj Bajpayee, have also invested Rs ₹28.92 crores for 19.28 lakh shares in the company. (According to DRHP)
All the Bollywood film stars such as Shah Rukh Khan Family Trust, Amitabh Bachchan, Ektaa Ravi Kapoor, Tusshar Ravi Kapoor, Jeetendra (Ravi Amarnath Kapoor), Tiger Jackie Shroff, Rajkumar Yadav, Rakesh Roshan, Hrithik Roshan, Sajid Nadiadwala, and Manoj Bajpayee issued 19.28 lakh shares in Lotus Developers for ₹28.92 crore and Ashish Kacholia has also invested around ₹50 crores to get 33.33 lakh shares.
The merchant bankers managing the public issue are Monarch Networth Capital and Motilal Oswal Investment Advisors.
In this company, promoters have around 91.78% stake ownership, and the rest 8.22% is held by 150 public shareholders including Bollywood stars, Ashish Kacholia, NAV Capital, Dovetail Global Fund, Minerva Ventures, and Oppbasket. Moreover, on September 16, they received ₹139.4 crore by selling 46.46 lakh shares. Each share was ₹300 from all shares and 37 investors had issued, including Money Spinners, Sera Investments, Smart Algo Solutions, NAV Capital, Dovetail Global Fund, Minerva Ventures, Yantra E-Solarindia, and Oppbasket.
On December 14, this company earned ₹399.2 crore by selling 2.66 crore shares at ₹150 each which is half the price of the previous private placement. A total of 118 investors, including Ashish Kacholia, Abundantia Capital, Astorne Capital, AARII Ventures, Topgain Finance, Turtle Crest, Aminiti Builders & Developers, DRChoksey Finserv, Jagdish N Master, and Nurture Pranay Foundation, were allocated shares in this placement.
Lotus Developers IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Lotus Developers Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹103.18 | ₹81.93 | ₹16.77 |
| 2023 | ₹169.95 | ₹147.06 | ₹16.80 |
| 2024 | ₹466.19 | ₹305.07 | ₹119.14 |
| September 2024 | ₹247.55 | ₹125.85 | ₹90.63 |
Lotus Developers IPO Valuation – FY2024
Lotus Developers IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹3.00 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 70.68% |
| Net Asset Value (NAV): | ₹4.24 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Arkade Developers Limited | 8.08 | 20.15 | 38.01% | 21.28 | 634.74 Cr. |
| Keystone Realtors Limited | 9.85 | 69.81 | 6.18% | 157.85 | 2,222.25 Cr. |
| Suraj Estate Developers Limited | 19.39 | 29.91 | 13.07% | 120.43 | 412.21 Cr. |
| Sunteck Realty Limited | 4.99 | 101.78 | 2.27% | 213.28 | 564.85 Cr. |
| Mahindra Lifespaces Limited | 6.34 | 73.02 | 5.25% | 120.82 | 212.09 Cr. |
| Hubtown Limited | (11.16) | (23.98) | (6.85%) | 157.38 | 257.72 Cr. |
Objects of the Issue
- Investment in our Subsidiaries, Richfeel Real Estate Private Limited, Dhyan Projects Private Limited and Tryksha Real Estate Private Limited for part-funding development and construction cost of our Ongoing Projects, Amalfi, The Arcadian and Varun, respectively; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- Monarch Networth Capital Limited
- Motilal Oswal Investment Advisors Limited
Fund Deployment
Approximately ₹550 crores, 70% of the funds to be used as investment in subsidiaries, Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited for part-funding development and construction cost of the ongoing projects, Amalfi, The Arcadian and Varun, respectively.
About Lotus Developers and Realty Limited
Sri Lotus Developers has a main focus on exclusive and luxury real estate in Mumbai’s western suburbs and mainly works on redevelopment projects. This company completed three major projects in November 2024 and six main projects are on hand along with seven planned. These projects cover 1.05 million square feet of construction and 4.5 million square feet planned for the future. Financially, its revenue for 2024 is 461.57 Crore, while PAT has increased by 119.81 crore in 2024 in contrast to 16.29 crore in 2023. For the six months ending September 30, 2024, the company reported revenue from operations of ₹243.42 crore and a profit after tax of ₹90.63 crore.
