Suraj Estate IPO GMP, Price, Date, Allotment

The Suraj Estate date has been confirmed from December 18 and ended on December 20. Read the post to learn about Suraj Estate IPO GMP.

Suraj Estate Developers IPO opens for subscription on December 18, 2023 and closes on December 20, 2023. The price band is set at ₹340 to ₹360 per share. The minimum lot size for an application is 41 Shares. The minimum amount of investment required by retail investors is ₹14,760. The minimum lot size investment for sNII is 14 lots (574 shares), amounting to ₹206,640, and for bNII, it is 68 lots (2,788 shares), amounting to ₹1,003,680.

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Key Details Of Suraj Estate IPO :

Suraj Estate IPO GMP

The Suraj Estate IPO GMP Today is ₹15.

Suraj Estate IPO Overview​

Suraj Estate Developers’ IPO is a book-built issue worth Rs 400.00 crore. The offering is wholly new, consisting of 1.11 crore shares. Suraj Estate Developers initial public offering (IPO) begins on December 18, 2023 and concludes on December 20, 2023. The Suraj Estate Developers IPO allotment will be completed on Thursday, December 21, 2023. Suraj Estate Developers’ first public offering (IPO) will be listed on the BSE and NSE on Tuesday, December 26, 2023.

Suraj Estate Developers’ initial public offering price range is 340 to 360 per share. An application requires a minimum lot size of 41 Shares. Retail investors must make a minimum investment of $14,760. The minimum lot size investment for sNII is 14 lots (574 shares), which amounts to 206,640, while the minimum lot size investment for bNII is 68 lots (2,788 shares), which amounts to 1,003,680.

As of September 30, 2023, the company and its subsidiaries employed 126 full-time employees. Suraj Estate has developed over 10 lakh square feet of land in Mumbai. Suraj Estate is available in the residential portfolio in the “Value Luxury” and “Luxury” segments in various price categories, with unit prices ranging from Rs. 10.00 million to Rs. 130.00 million. Suraj Estate has built and sold corporate offices for institutional clients such as Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar) in the commercial sector.

Suraj Estate IPO Details

IPO Date	December 18, 2023 to December 20, 2023
Listing Date	[.]
Face Value	₹5 per share
Price Band	₹340 to ₹360 per share
Lot Size	41 Shares
Total Issue Size	11,111,111 shares (aggregating up to ₹400.00 Cr)
Fresh Issue	11,111,111 shares (aggregating up to ₹400.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	33,250,000
Share holding post issue	44,361,111

Suraj Estate IPO Financial Performance

	FY 2021	FY 2020	FY 2019
Revenue	239.99	272.72	305.74
Expenses	234.95	237.76	264.68
Net income	6.28	26.50	32.06
Margin (%)	2.62	9.72	10.49

Suraj Estate IPO Dates and Listing Performance

IPO Open Date	Monday, December 18, 2023
IPO Close Date	Wednesday, December 20, 2023
Basis of Allotment	Thursday, December 21, 2023
Initiation of Refunds	Friday, December 22, 2023
Credit of Shares to Demat	Friday, December 22, 2023
Listing Date	Tuesday, December 26, 2023
Cut-off time for UPI mandate confirmation	5 PM on December 20, 2023

Company Profile​

Eleganza- II and ICICI Apartments, CCIL Bhavan( Phase- I up to 6th bottom) and Tranquil Bay- I, Elizabeth Apartment and Mon Desir,St. Anthony Apartments, Lumiere and Tranquil Bay- II, Brahmsidhhi CHS, Jacob Apartments, Suraj Eleganza- I and Gloriosa Apartments, and others are among the company’s systems.

IPO Strengths

• Experienced promoters and a competent management team.
• Well-established relationships with a loyal customer base.
• Access to markets worldwide, enabling global reach.

IPO Weakness

• Heavy reliance on customers based in the United States.
• Need to adhere to multiple laws and regulations in these countries to ensure compliance.
• Competition from other players in the market.

Suraj Estate IPO FAQs