Upcoming IPO, May 20 -- Sri Lotus Developers and Realty Limited has received a final nod from the capital markets authority, the Securities and Exchange Board of India (SEBI), to raise Rs.792 crore through an initial public offering (IPO). The company had filed its IPO papers with SEBI on December 24, 2024.

The firm operates as a real estate developer involved in the construction of residential and commercial properties in Mumbai, Maharashtra, with a specialization in Redevelopment Projects within the Ultra Luxury and Luxury Segments in the western suburbs.

In December, Sri Lotus Developers generated around Rs.400 crore via a private placement of 26.61 million shares priced at Rs.150 each. Among the backers, Bollywood legend Amitabh Bac...