Suraj Estate Developers IPO Date, Price band, Lot size and Financial Information

Suraj Estate Developers IPO Overview

You are at right place to check all the details regarding Suraj Estate Developers IPO. The dates for Suraj Estate Developers IPO is announced. The IPO will open on December 18, 2023 and will close on December 20, 2023. The IPO price band is fixed at Rs [.] to Rs [.] Per Share. The company aims to to raise around ₹400 Crores via this IPO. You can find complete information about Suraj Estate Developers IPO in this post.

The lot size for the application is [.] shares and hence minimum amount that you would need for this IPO (by retail investors) is ₹[.]

suraj-estate-developers-ipo

About Suraj Estate Developers IPO:

Since 1986, Suraj Estate Developers has been a part of the real estate industry, developing properties in the South Central Mumbai area for both residential and commercial use. They are currently attempting to build residential real estate in the Bandra submarket. They have properties in the “value luxury” and “luxury” segments of the residential market, with unit prices ranging from ₹10.00 million to ₹130.00 million, and across a number of price points.

Within their commercial portfolio, they have built and sold custom corporate headquarters to our institutional clients, Clearing Corporation of India Limited (Dadar) and Saraswat Cooperative Bank Limited (Prabhadevi). They intend to venture into creating boutique office spaces on Tulsi Pipe Road, Mahim, in order to meet the growing need for smaller independent offices in the business sector.

Suraj Estate Developers launched 15 residential projects between 2016 and 2023 (Q1), of which 13 (~87%) are redevelopments of 178 existing projects. In compliance with Development Control and Promotion Regulation, 2034, rule 33(7), the company has redeveloped homes for over 1,011 renters at no cost as of March 31, 2023 (“DCP Regulations”). In the island city of Mumbai, there are 14,207 cessed properties as of the date of this draft red herring prospectus that have not yet undergone redevelopment.

The markets of Mahim, Dadar, Prabhadevi, and Parel are sub-markets of the South Central Mumbai micro-market, where Suraj Estate Developers Limited has established itself and is one of the market leaders. These areas contain a sizable residential portfolio. According to supply, they rank in the top 10 developers (in number of units). They hold the top spot with a 15.92% market share among the top 10 developers. In terms of absorption (number of units), they are also in the top ten developers; holding the top spot with a 16.99% market share.

Objects of the Issue

  • Repayment/Prepayment of the aggregate outstanding borrowings of the company and its subsidiaries, Accord Estates Private Limited and Iconic Property Developers Private Limited.
  • Acquisition of land or land development rights.
  • General corporate purposes.

    Suraj Estate Developers IPO Review (Apply or Not?)

    To Be Updated Soon

    Suraj Estate Developers IPO Brokrage House Reviews:

    • BP Equities (BP Wealth): To Be Updated
    • Swastika Investmart Ltd: To Be Updated
    • Ventura Securities Limited: To Be Updated

    Suraj Estate Developers IPO Date & Price Band Details

    IPO Open:December 18, 2023
    IPO Close:December 20, 2023
    IPO Size: 400 Crores
    Fresh Issue: ₹400 Crores
    Offer For Sale –
    Face Value:Rs5 Per Equity Share
    IPO Price Band:₹[.] to ₹[.] Per Share
    IPO Lot Size[.] Shares
    IPO Listing on:BSE & NSE
    Retail Quota:35%
    QIB Quota:50%
    NII Quota:15%
    Discount:N/A
    DRHP Draft Prospectus:Click Here
    RHP Draft Prospectus:Click Here

    Suraj Estate Developers IPO Market Lot

    The Suraj Estate Developers IPO minimum market lot is [.][ shares with ₹[.] application amount. The retail investors can apply up-to [.] lots with shares or ₹[.].

    CategoryLot SizeSharesRequired Amount
    Retail Minimum1₹1-
    Retail Maximum14₹-
    S-HNI Minimum14₹-
    B-HNI Minimum71₹-

    Suraj Estate Developers IPO Allotment & Listing Dates

    The Suraj Estate Developers IPO open date is December 18, 2023 and the close date is December 20, 2023. The Suraj Estate Developers IPO allotment will be finalized on December 21, 2023 and the IPO listing on December 26, 2023.

    Anchor Investors Allotment:December 17, 2023
    IPO Open Date:December 18, 2023
    IPO Close Date:December 20, 2023
    Basis of Allotment:December 21, 2023
    Refunds:December 22, 2023
    Credit to Demat Account:December 22, 2023
    IPO Listing Date:December 26, 2023

    Suraj Estate Developers Company Financial Report

    Suraj Estate Developers IPO Valuation

    Below is the financial details of Suraj Estate Developers for the year FY2023.

    Earning Per Share (EPS):₹10.10 per Equity Share
    P/E Ratio:
    Return on Net Worth (RoNW):58.18%
    Debt/Equity:₹22.49 per Equity Share

    Company Promoters:

    • Mr. Rajan Meenathakonil Thomas

    Competitor Companies:

    • Oberoi Realty Limited
    • Sunteck Realty Limited
    • Keystone Realtors Limited
    • Shriram Properties Limited
    • Mahindra Lifespace Developers Limited
    • D B Realty Limited
    • Hubtown Limited

    Suraj Estate Developers IPO Registrar

    Link Intime India Private Ltd
    Phone: +91-22-4918 6270
    Email: surajestate.ipo@linkintime.co.in
    Website: https://www.linkintime.co.in/

    Suraj Estate Developers IPO Lead Managers

    • Iti Capital Ltd
    • Anand Rathi Securities Limited

    Suraj Estate Developers IPO Allotment Status Check

    Allotment status of Suraj Estate Developers IPO can be checked on Linkintime website : Click here

    Company Address of Suraj Estate Developers :

    Suraj Estate Developers Limited
    301, 3rd Floor, Aman Chambers,
    Veer Savarkar Marg, Opp. Bengal Chemicals,
    Prabhadevi, Mumbai – 400025
    Phone: +91 22 2437 7877
    Email: suraj@surajestate.com

    Website: https://surajestate.com/

    Suraj Estate Developers IPO FAQs

    The IPO is to open on December 18, 2023 for QIB, NII, and Retail Investors and closes on December 20,2023

    The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

    Suraj Estate Developers IPO allotment date is December 21, 2023.

    Suraj Estate Developers IPO listing date is December 26, 2023. The IPO is to list on BSE and NSE.

    You can apply to this IPO through Zerodha by logging in to Console in Zerodha Website. Go to Portfolio and Click on IPO. You will see the IPO Name “Suraj Estate Developers ”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App like PhonePe or GooglePay etc to Approve the mandate. If you still dont have Demat account with Zerodha you can open it using this link,  Open Demat Account with Zerodha.

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