Sri Lotus Developers IPO: GMP Hints at 28% Gains for Star Investors Khan, Bachchan, and Kacholia

Rapid Summary

• Sri Lotus Developers IPO: The Initial public Offering (IPO) closed with strong demand across all investor categories, recording an overall subscription of 69.14 times.
• Gray Market Premium (GMP): Shares are quoting a 28% premium or Rs 42 in the grey market, indicating a likely listing price of Rs 192.
• Celebrity Involvement: Bollywood stars Shah Rukh Khan and Amitabh Bachchan,along with Hrithik Roshan’s family and investor Ashish Kacholia,invested during pre-IPO private placement at Rs 150/share. Expected profits for prominent investors:

– Shah Rukh Khan: Rs 2.83 crore on a holding of 6,75,000 shares.
– Amitabh Bachchan: Rs 2.8 crore on his purchase of 666,670 shares.- Hrithik Roshan & Rakesh Roshan: Each likely to earn Rs 29.40 lakh from their individual holdings of approximately 70,000 shares.
– Ashish Kacholia: Estimated gain of Rs ₹13.99 crore from his ownership of over three million shares.

• Fundraising Efforts: Sri Lotus Developers raised ₹399.20 crores through private placements before the IPO for $150/share; IPO aimed to raise ₹792 crores via book building issue process.

Additional Details:

• The company specializes in redevelopment projects in Mumbai’s luxury and ultra-luxury western suburbs segments and holds approximately ~0.`…