Bollywood Backed Lotus Developers Files DRHP For Rs 1000 Cr IPO

Anand Pandit’s Lotus Developers Ltd which has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) has attracted iconic Bollywood personalities including Amitabh Bachchan, Shah Rukh Khan, Ajay Devgan, Hrithik Roshan among others as investors to its Pre-IPO placement.

The IPO is likely to be a fresh issue of approximately Rs. 800-Rs. 1000 crores. Among the investors is an impressive list including Sara Ali Khan, Rakesh Roshan, Ektaa Kapoor, Jeetendra Kapoor, Tusshar Kapoor, Sajid Nadiadwala, Tiger Shroff, Manoj Bajpayee, Rajkumar Rao. Other well-known ACF investors includes Ashish Kacholia, Jagdish Master and DR Choksey.

Founded in 2003, by Anand Pandit, Lotus Developers has established a significant presence in Mumbai’s premium real estate segment by specializing in ultra –luxury residential and commercial development which also is the address of Bollywood stars and production houses.

The company operates through two primary models: redevelopment projects involving joint agreements with housing societies and office unit holders, and new projects through land acquisition. Over the years, Lotus Developers has expanded its footprint from Mumbai’s Western Suburbs to high-value micro-markets like Bandra, Nepean Sea Road, Prabhadevi, and Ghatkopar.