By Abhay Ray 
Introduction
Mumbai-based Sri Lotus Developers, a company with deep roots in both the film and real estate industries, is set to hit the stock market with a ₹792-crore initial public offering (IPO). The company, led by film producer and real estate entrepreneur Anand Pandit, recently received the green light from the Securities and Exchange Board of India (SEBI) for its public issue. The IPO is expected to draw significant attention, not just for its financial prospects, but for its glittering list of investors from the Indian film fraternity.
About Sri Lotus Developers
Sri Lotus Developers is a Mumbai-based real estate firm that focuses on premium and ultra-luxury residential and commercial projects, primarily in the city’s high-demand western suburbs. With a portfolio spanning landmark redevelopment projects and high-rise luxury towers, the company has become a significant player in the upscale Mumbai market.
Founded by Anand Pandit, who also has a strong presence in Bollywood as a film producer, the company leverages his dual industry connections to blend business acumen with brand visibility.
Bollywood Backs IPO
In a pre-IPO private placement round last December, Sri Lotus Developers raised ₹400 crore, attracting a star-studded roster of investors. Bollywood legend Amitabh Bachchan and Shah Rukh Khan’s family trust each picked up stakes worth ₹10 crore. Hrithik Roshan joined in with a ₹1 crore investment, while other industry luminaries like Ajay Devgn, Ektaa Kapoor, Rajkumar Rao, and Tiger Shroff also participated. The round was further bolstered by high-net-worth individuals and ace investor Ashish Kacholia, who acquired a ₹50 crore stake.
Pandit’s Dual Passions
Anand Pandit’s office in Mumbai’s upscale Juhu neighborhood is adorned with film posters and portraits of stars, reflecting his dual identity as both a film producer and a real estate developer. Pandit, who has produced films starring Bachchan, Devgn, and Emraan Hashmi, says his true passion has always been real estate, a dream sparked by Bachchan’s role as a builder in the classic film Trishul. “The film production business happened over the years, but my main interest and passion is in real estate,” Pandit shared in a recent interview.
The Trishul Inspiration
“I watched Amitabh Bachchan’s film Trishul when I was a youngster. In the film, he played the lead character who owned a construction company named Shanti Constructions. And that is what I wanted to become as an adult, a developer. The film production business happened over the years, but my main interest and passion is in real estate,” Anand, chairman and managing director of Sri Lotus Developers, said during the interaction, reminiscing the Yash Chopra-directed and Salim-Javed written film.
“I have sold offices and homes purely through personal relationships and word-of-mouth. We have a website now because of the new rules, and for providing information to investors. Even now, for my ongoing projects, we have not prepared sales brochures, but we show potential buyers detailed plans of the projects, which I go through and approve myself. The listing is more for recognition, and not just for funding projects,” Anand, an engineer by education, said.
Strong Financials
Sri Lotus Developers has completed three projects under its brand, residential developments Ayana and Ananya, and the office project Lotus Signature. The company is currently working on six more projects and has seven additional developments in the pipeline, all located in Mumbai. The focus remains on the premium segment, particularly in the Bandra-Andheri belt, home to many film industry personalities.
Financially, the company’s revenues nearly tripled in FY24, reaching over ₹467 crore, with profits soaring to ₹119.81 crore. The upcoming IPO proceeds, around ₹550 crore, will be primarily used to complete ongoing projects and fuel further business development.
Trusted by Bollywood
Sri Lotus Developers has become a trusted brand among Bollywood celebrities, many of whom have purchased offices and homes through the company. Stars like Ajay Devgn, Sara Ali Khan, and Kartik Aaryan have bought properties, often renting them out to film and television production houses. Despite the high-profile clientele, Pandit emphasizes that the company is not dependent on celebrity sales. Instead, it’s the strength of personal relationships and trust that has driven business. “The industry is cash-rich and trusts only a select few. We are among them. They know that Lotus is a brand ‘jo ghar ka hai’ (of one’s own home),” Pandit explained.
IPO for Growth
While the IPO will provide necessary funding for ongoing and future projects, Pandit sees the public listing as a step toward greater market recognition. “The listing is more for recognition, and not just for funding projects,” he said. With a strong track record, celebrity backing, and ambitious plans for Mumbai’s real estate market, Sri Lotus Developers is poised to make a splash on Dalal Street.
Conclusion
Sri Lotus Developers’ upcoming ₹792-crore IPO marks a major milestone for the Mumbai-based real estate firm, blending Bollywood glamour with business growth. Backed by film stars and industry veterans, the company leverages strong personal networks and a premium project portfolio in Mumbai’s high-demand zones. Founder Anand Pandit’s unique dual identity as a film producer and developer adds to the brand’s distinct appeal. With soaring revenues, trusted celebrity clientele, and strategic use of IPO funds, Sri Lotus Developers is not only aiming for financial expansion but also broader market recognition.
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