Suraj Estate Developers Ltd IPO
Price Range
₹340 - ₹360
-
Min. Quantity
41 Shares
Closes on
20 December 2023
-
Min. investment
₹14,760
Suraj Estate Developers Ltd IPO Timeline
| 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 |
|---|---|---|---|
| 03-2025 | 1,620.02 | 553.22 | 96.50 |
| 03-2024 | 1,174.86 | 386.85 | 71.38 |
| 03-2023 | 763.79 | 247.13 | 37.96 |
| 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
| BSE Script | |
| NSE Symbol | |
| Listing In | BSE, NSE |
| ISIN | INE843S01025 |
| IPO Price | ₹- |
| Face Value | ₹- |
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
How to Check the Allotment Status of Suraj Estate Developers Ltd IPO?
To check the IPO allotment status, follow these steps:
- Visit the official website of the IPO registrar.
- Navigate to the IPO Allotment Status page.
- Select “Suraj Estate Developers Ltd” from the list of available IPOs.
- Enter any one of these - PAN Number, Application Number, DP/Client ID.
- Click on Submit to view your allotment status.
About Suraj Estate Developers Ltd IPO
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 the status into a Public Limited dated October 30, 2021 and the name was changed to Suraj Estate Developers Limited' vide fresh Certificate of Incorporation w.e.f. December 9, 2021. Founded by the Promoter, Rajan M. Thomas, the Company is engaged in the business of real estate development.