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.
Event | Date |
---|---|
Suraj Estate Developers Ltd IPO Opening Date | 18 December 2023 |
Suraj Estate Developers Ltd IPO Closing Date | 20 December 2023 |
Basis of Allotment | 21 December 2023 |
Initiation of Refunds | 22 December 2023 |
Credit of Shares to Demat | 22 December 2023 |
Suraj Estate Developers Ltd IPO Listing Date | 26 December 2023 |
Suraj Estate Developers Ltd IPO Details
Suraj Estate Developers Ltd IPO Date | 18 December 2023 to 20 December 2023 |
Suraj Estate Developers Ltd IPO Face Value | ₹5 per share |
Suraj Estate Developers Ltd IPO Price | ₹340 to ₹360 per share |
Suraj Estate Developers Ltd IPO Lot Size | 41 |
Issue Size | Shares of ₹5 (aggregating up to ₹400 Cr) |
Fresh Issue | Shares of ₹5 (aggregating up to ₹400 Cr) |
Offer for Sale | - |
Issue Type | (Book Built Portion) |
Listing At | BSE, NSE |
QIB Shares Offered | Not more than 23,52,940 of the Net Offer |
Retail Shares Offered | Not less than 41,17,647 of the Net Offer |
NII (HNI) Shares Offered | Not less than 17,64,706 of the Net Offer |
Company Promoters | Rajan 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 | Lots | Shares | Amount |
---|---|---|---|
Minimum | 1 | 41 | ₹14,760 |
Maximum | 13 | 533 | ₹1,91,880 |
- Strengths
- 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 Assets | Total Revenue | Profit After Tax |
---|---|---|---|
03-2024 | 1,174.86 | 386.85 | 71.38 |
03-2023 | 763.79 | 247.13 | 37.96 |
03-2022 | 563.72 | 205.59 | 14.88 |
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 Holding | 82.05% |
Post Issue Share Holding | 61.5% |
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)
Category | QIB | NII | Retail | Employee | Total |
Subscription (times) | 24.31 | 18.9 | 9.3 | - | 15.65 |
Suraj Estate Developers Ltd IPO Prospectus
Suraj Estate Developers Ltd IPO Listing Date
Listing Date | 26 December 2023 |
BSE Script | 544054 |
NSE Symbol | SURAJEST |
Listing In | BSE, NSE |
ISIN | INE843S01025 |
IPO Price | ₹360 |
Face Value | ₹5 |
Company Contact Information
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
Suraj Estate Developers Ltd IPO Lead Manager(s)
- ITI Capital Ltd
- Anand Rathi Advisors Ltd
FAQ
What is the issue size of Suraj Estate Developers Ltd IPO?
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.