The Suraj Estate date has been confirmed from December 18 and ended on December 20
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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Bidding Dates
December 18-20
Price Range
₹340 to ₹360 per share
Face Value
₹5 per share
GMP
₹15
Suraj Estate IPO GMP
The Suraj Estate IPO GMP is ₹15.
IPO Overview
Suraj Estate Developers IPO is a Rs 400.00 crore book-built issue. 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 is expected to 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 set at 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. In Mumbai, Suraj Estate has developed over 10 lakh square feet of land. 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 Developer 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
Suraj Estate Developers Limited is a real estate construction company that was founded in 1986. In the South Central Mumbai district, the business builds residential and commercial real estate. The company does not provide any in-house construction services and is entirely reliant on third-party contractors to complete its Projects. Suraj Estate Developers Limited has finished 42 properties in the South-Central Mumbai area. The company has thirteen (13) ongoing projects and sixteen (16) upcoming projects in addition to the completed projects. Suraj
Eleganza-II and ICICI Apartments, CCIL Bhavan (Phase-I up to 6th floor) 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 projects.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91 022 4918 6060 |
| Email ID | surajestate.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | SURAJ ESTATE DEVELOPERS LIMITED |
| Phone number | +91 22 2437 7877 |
| Email ID | suraj@surajestate.com |
| Website | surajestate.com |
IPO Strenghts
- 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.
