Suraj Estate Developers IPO GMP Price, Date, Review Details – IPO Upcoming

Suraj Estate Developers, a real estate developer, has filed a draft red herring prospectus (DRHP) with SEBI in order to raise $500 million through an initial public offering. The funds will be raised by the issuance of new equity shares. The promoter and promoter group own around 94.89 percent of the corporation, with Rajan Meenathakonil Thomas, the promoter, owning 82.05 percent. Along with Centrum Capital and Anand Rathi Advisors, the book running leads managers to the problem.

Suraj Estate Developers has been in the real estate sector since 1986, developing both residential and commercial properties in the South Central Mumbai area. In terms of the number of units delivered in the Mumbai suburbs of Mahim, Matunga, Dadar, Prabhadevi, and Parel from 2016 to 2021, the company has a 15.25 percent market share. The firm’s residential portfolio is divided into “value luxury” and “luxury” categories, with prices ranging from Rs 1 crore to Rs 13 crore. As part of our commercial portfolio (Dadar), we

developed and sold built-to-suit corporate offices to our institutional clients, Saraswat Cooperative Bank Limited (Prabhadevi) and Clearing Corporation of India Limited. We intend to develop boutique office spaces on Tulsi Pipe Road in Mahim to fulfill the growing need in the business sector for smaller independent offices. The firm identifies buildings with present tenants that are either terminated or non-terminated and partners with the landlords of those properties through a development agreement or an outright purchase via a conveyance deed.

Furthermore, it provides free, high-quality housing to current renters and inhabitants of redevelopment projects. As a result, the majority of projects are completed on company-owned property or under development agreements with landowners. Sanjay Puri Architects and Vivek Bhole Architects Private Limited are just two of the well-known architects with whom the company works.

Why should you invest in Suraj Estate Developers Limited?

• Despite the country’s spiraling COVID-19 pressure, the Indian residential sector staged a notable return in Q3 2021, with absorption rising to 113% of the same period in 2020. In the first three quarters of 2021, the Mumbai Metropolitan Region (“MMR“), Pune, Bengaluru, Hyderabad, the National Capital Region (“NCR“), Chennai, and Kolkata (“Top Seven Indian Markets“) recorded absorption of approximately 0.15 million units, up 67% from the same period in 2020.
• New launches increased by 117% from 75,150 units in January to September of 2020 to roughly 162,950 units in the same period of 2021.
• The unsold inventory in India’s top 7 cities has stayed consistent on a quarterly basis (655,299 units), but has increased by 3% year on year since fresh supply has outperformed overall absorption numbers during the last 5 quarters ending September 2021.

Suraj Estate Developers IPO Financials

Suraj Estate Developers Limited IPO Objectives:

• Repayment or prepayment of the Company’s and its Subsidiaries total outstanding borrowings, Accord Estates Private Limited, Iconic Property Developers Private Limited, and Skyline Realty Private Limited
• Acquisition of land or land development rights
• General corporate purposes.
• Furthermore, they anticipate reaping the benefits of listing our equity shares on stock exchanges.

Know before investing

Suraj Estate Developers IPO FAQs: