Noted builder and film producer-distributor Anand Pandit’s Lotus Developers Ltd. is gearing up for an IPO of approximately Rs. 800-1,000 crore around March-April next year. The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and has attracted Bollywood celebrities like Amitabh Bachchan, Shah Rukh Khan, Ajay Devgan, Hrithik Roshan and several others as investors in its pre-IPO placement.
Over the years, Lotus Developers has expanded its footprints from Bombay’s Western suburbs to high-value micro-markets like Bandra, Nepean Sea Road, Prabhadevi and Ghatkopar.