India, May 20 -- Shah Rukh Khan-backed Sri Lotus Developers and Realty Limited, has received approval from the Securities and Exchange Board of India (SEBI) for a Rs.792 crore initial public offering (IPO).

Sri Lotus Developers and Realty is a real estate firm backed by SRK's family trust, Amitabh Bachchan, Hrithik Roshan, and ace investor Ashish Kacholia, according to the draft red herring prospectus (DRHP).

The Mumbai-based developer is involved in redevelopment projects in the ultra-luxury and luxury segment in the western suburbs of Mumbai and had filed papers with SEBI in December 2024.

The public issue is an entirely fresh issue of shares, with a face value of Rs.1 per share worth Rs.792 crore. There is no offer for sale (OFS) co...