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IPO Suraj Estate Developers Ltd

  • Price Range

    ₹340 - ₹360

  • Min. Quantity

    41

  • Closes on

    20 December 2023

  • Min. investment

    ₹14,760/533 Shares

Suraj Estate Developers Ltd IPO Timeline

Suraj Estate Developers Limited was originally incorporated as Suraj Estate Developers Private Limited', at Mumbai dated September 10, 1986 issued by the RoC. Subsequently, Company converted into a Public Limited Company dated October 30, 2021 and the name was changed to Suraj Estate Developers Limited' vide fresh Certificate of Incorporation dated December 9, 2021. Founded by the Promoter, Rajan M. Thomas, the Company is engaged in the business of real estate development.

EventDate
Suraj Estate Developers Ltd IPO Opening Date18 December 2023
Suraj Estate Developers Ltd IPO Closing Date 20 December 2023
Basis of Allotment21 December 2023
Initiation of Refunds22 December 2023
Credit of Shares to Demat22 December 2023
Suraj Estate Developers Ltd IPO Listing Date26 December 2023

Suraj Estate Developers Ltd IPO Details

Suraj Estate Developers Ltd IPO Date18 December 2023 to 20 December 2023
Suraj Estate Developers Ltd IPO Face Value5 per share
Suraj Estate Developers Ltd IPO Price340 to ₹360 per share
Suraj Estate Developers Ltd IPO Lot Size41
Issue SizeShares of ₹5 (aggregating up to ₹400 Cr)
Fresh IssueShares of ₹5 (aggregating up to ₹400 Cr)
Offer for Sale-
Issue Type(Book Built Portion)
Listing At BSE, NSE
QIB Shares OfferedNot more than 23,52,940 of the Net Offer
Retail Shares OfferedNot less than 41,17,647 of the Net Offer
NII (HNI) Shares OfferedNot less than 17,64,706 of the Net Offer
Company PromotersRajan Meenathakonil Thomas

Suraj Estate Developers Ltd IPO Lot Size

The Suraj Estate Developers Ltd IPO lot size is 41 shares. A retail-individual investor can apply for up to 13 lots (533 shares or ₹1,91,880).

Application LotsSharesAmount
Minimum141₹14,760
Maximum13533₹1,91,880
  • Risks
  • Opportunities
  • The Company has established brand with a long standing presence in Value Luxury Segment and Luxury Segment in the residential real estate market of South Central Mumbai region;
  • The Company has diversified portfolio encompassing product offerings across various price points in value luxury and luxury segments;
  • The Company has expertise in tenant settlement in the redevelopment projects in residential sub-markets of Mahim, Matunga, Dadar, Prabhadevi, and Parel;
  • Its marketing and sales strategies
  • The Company has an experienced promoter and management team with its Chairperson and Managing Director who is also its Promoter, having over thirty six (36) years of experience in various aspects of real estate business.

Company Financials

Suraj Estate Developers Ltd Financial Information (Restated)

Period Ended Total AssetsTotal RevenueProfit After Tax
03-20241,174.86386.8571.38
03-2023763.79247.1337.96
03-2022563.72205.5914.88
Amount in ₹ Crore

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • Repayment/prepayment of the aggregate outstanding borrowings of the company and the company subsidiary, Accord Estates Pvt Ltd, Iconic Property Developers Pvt Ltd and Skyline Realty Pvt Ltd
  • Acquisition of land or land development rights
  • General corporate purposes

Suraj Estate Developers Ltd IPO Promoter Holding

Pre Issue Share Holding82.05%
Post Issue Share Holding61.5%

Suraj Estate Developers Ltd IPO Subscription Status (Bidding Detail)

The Suraj Estate Developers Ltd IPO is subscribed 15.65 times on 20 December 2023 05:00:00 PM. The public issue subscribed 9.3 times in the retail category, 24.31 times in the QIB category, and 18.9 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryQIBNIIRetailEmployeeTotal
Subscription (times)24.3118.99.3-15.65

Suraj Estate Developers Ltd IPO Prospectus

Suraj Estate Developers Ltd IPO Listing Date

Listing Date26 December 2023
BSE Script 544054
NSE SymbolSURAJEST
Listing In BSE, NSE
ISININE843S01025
IPO Price360
Face Value5

Company Contact Information

Suraj Estate Developers Ltd
301 3rd Floor Aman ChambersV S Marg Opp.Bengal Chemicals,Mumbai-400025
Phone: 91-22-4015 4746/+91-22 4015 4764
Email: suraj@surajestate.com
Website: www.surajestate.com

Suraj Estate Developers Ltd IPO Registrar

Phone:+91 22 49186200
Email: surajestate.ipo@linkintime.co.in
Website: www.linkintime.co.in

Suraj Estate Developers Ltd IPO Lead Manager(s)

  1. ITI Capital Ltd
  2. Anand Rathi Advisors Ltd

FAQ

What is the issue size of Suraj Estate Developers Ltd IPO?

Suraj Estate Developers Ltd IPO, which opens for subscription from to 20 December 2023 has an issue size of ₹400 crore. The issue type is book building issue.

I have pre-applied for Suraj Estate Developers Ltd IPO. When will my order get placed?

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for TBI Corn Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

What are the open and close dates for Suraj Estate Developers Ltd IPO?

Suraj Estate Developers Ltd IPO Opens for subscription from 18 December 2023 to 20 December 2023

What is the lot size and minimum order quantity of the Suraj Estate Developers Ltd IPO?

The lot size of Suraj Estate Developers Ltd is 41 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14,760 and ₹1,91,880 respectively.

What are the allotment dates for the Suraj Estate Developers Ltd IPO?

Allotment date for Suraj Estate Developers Ltd is 21 December 2023 and refund of application amount (in case allotment is not received) will begin from 22 December 2023. If your allotment goes through, then shares will be credited in your Demat account by 22 December 2023.

Who is the registrar of Suraj Estate Developers Ltd IPO?

The registrar for Suraj Estate Developers Ltd IPO is MUFG Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.

Where is the Suraj Estate Developers Ltd IPO getting listed?

The shares of Suraj Estate Developers Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)