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 ₹[.]
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 ₹[.].
| Category | Lot Size | Shares | Required Amount |
| Retail Minimum | 1 | – | ₹1- |
| Retail Maximum | 14 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 71 | – | ₹- |
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
| Year | Revenue (Cr) | Expense (Cr) | PAT (Cr) |
| 2021 | ₹244 | ₹235 | ₹6.28 |
| 2022 | ₹238 | ₹238 | ₹26.50 |
| 2023 | ₹265 | ₹265 | ₹32.06 |
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
When Suraj Estate Developers IPO will open and close?
The IPO is to open on December 18, 2023 for QIB, NII, and Retail Investors and closes on December 20,2023
What is Suraj Estate Developers IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is the Suraj Estate Developers IPO Allotment Date?
Suraj Estate Developers IPO allotment date is December 21, 2023.
What is the Suraj Estate Developers IPO Listing Date?
Suraj Estate Developers IPO listing date is December 26, 2023. The IPO is to list on BSE and NSE.
How to Apply the Suraj Estate Developers IPO through Zerodha?
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.