
Suraj Estate Developers Limited
Mainboard₹14,760 / 41 Shares
Suraj Estate Developers Limited IPO Details
The Suraj Estate Developers Limited IPO price band is set between ₹340-360 per equity share, with a face value of ₹5 per share. The issue is managed by Link Intime India Private Ltd, and the equity shares are proposed to be listed on the Mainboard.
The IPO date for subscription opens on 18 Dec, 2023 and closes on 20 Dec, 2023. Investors can check the allotment status on 21 Dec, 2023, while the listing date is tentatively scheduled for 26 Dec, 2023.
The total issue size is 11,111,111 shares, aggregating up to ₹400.00 Cr. Stay tuned for the latest Suraj Estate Developers Limited IPO review and GMP updates.
Suraj Estate Developers Limited IPO Review, Rating & Analysis
Suraj Estate Developers Limited IPO Review
NO REVIEWSuraj Estate Developers Limited IPO Rating
Suraj Estate Developers Limited IPO Highlights
IPO Date
Dec 18, 2023 - Dec 20, 2023
Listing Date
26 Dec, 2023
Face Value
₹5 Per Equity Share
Price Band
₹340-360 per equity share
Lot Size
41 Shares
Fresh Issue
Shares
Offer for Sale
-
Listing At
BSE, NSE
Suraj Estate Developers Limited IPO Lot Size
The minimum market lot for Suraj Estate Developers Limited IPO is 41 shares with an application amount of ₹14,760. Retail investors can apply for up to 13 lots. The table below details the minimum and maximum investment limits for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 41 | ₹14,760 |
| Retail (Max) | 13 | 533 | ₹1,91,880 |
| S-HNI (Min) | 14 | 574 | ₹2,06,640 |
| S-HNI (Max) | 67 | 2747 | ₹9,88,920 |
| B-HNI (Min) | 68 | 2788 | ₹10,03,680 |
Suraj Estate Developers Limited IPO Timeline
Issue Price
₹340-360 per equity shareFace Value
₹5 Per Equity ShareListing at Group
BSE, NSERegistrar
Link Intime India Private LtdLead Manager
Iti Capital LtdAnand Rathi Securities LimitedIssue Size
11,111,111 shares(aggregating up to ₹400.00 Cr)Suraj Estate Developers Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 23 | 942.58 | 307.89 | 32.06 | - | - | - |
| 31 Mar 22 | 864.00 | 273.91 | 26.50 | - | - | - |
| 31 Mar 21 | 792.00 | 244.00 | 6.28 | - | - | - |
All values are in ₹ Cr.
Promoters & Share Holding
Promoter(s) Name
- Mr. Rajan Meenathakonil Thomas
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 100% | 74.95% |
About Company
Suraj Estate Developers Limited is a real estate construction company with a focus on best-in-class collaborations and client assurance.
The company has over 35 years of experience in developing real estate across the residential and commercial sectors in the South Central Mumbai region. Suraj has developed over 10 lakh square feet of land in Mumbai. In the residential portfolio, Suraj is present across the value luxury and luxury segments across multiple price points with unit values ranging from ₹10.00 million to ₹130.00 million. In the commercial portfolio, Suraj has constructed and sold built-to-suit corporate headquarters to institutional clientele namely, Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar). The company has built more than 40 projects across residential and commercial segments in Mumbai.
From 2016 to 2023 (Q1), the company has launched 15 residential projects out of which 13 projects (~87%) are redevelopment 178 projects. As of March 31, 2023, Suraj has redeveloped houses for more than 1,011 tenants free of cost under regulation 33(7) of the Development Control and Promotion Regulation, 2034 (DCP Regulations). As of May 31, 2023, the company has completed 42 projects with a developed area of more than 1,046,543.20 square feet in the South Central Mumbai region. In addition to the Completed Projects, it has 11 Ongoing Projects with a developable area of 1,714,962.03 square feet, and saleable RERA carpet area of 497,774 square feet, and 21 Upcoming Projects with an estimated carpet area of 843,192 square feet.
Suraj Estate Developers was awarded Best Developer of the Year - Residential at the CNN-News18 Real Estate & Business Excellence Awards in Mumbai, on February 2, 2020.
Suraj Estate Developers Limited IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 2,222,222 | 1,666,666 1,111,110 555,555 | 3,888,889 | 7,777,777 |
Day 1 -18-12-23 05:00 PM | 0.12 x | 0.28 0.28 x 0.29 x | 1.24 x | 0.72 x |
Day 2 -19-12-23 05:00 PM | 0.12 x | 2.06 2.58 x 1.79 x | 3.90 x | 2.42 x |
Day 3 -20-12-23 05:00 PM | 24.31 x | 18.90 34.70 x 11.01 x | 9.30 x | 15.65 x |
Frequently Asked Questions about Suraj Estate Developers Limited IPO
When will Suraj Estate Developers Limited IPO open for subscription?
The Suraj Estate Developers Limited IPO opens on 18 Dec, 2023 and closes on 20 Dec, 2023.
What is the investors portion for Suraj Estate Developers Limited IPO?
The investors' portion for QIB is 24.31 x, NII is 34.70 x, and Retail is 9.30 x.
How to apply for Suraj Estate Developers Limited IPO?
You can apply for Suraj Estate Developers Limited IPO via ASBA online through your bank account. You can also apply via UPI through stock brokers like Zerodha, Upstox, or Paytm Money.
What is the issue size of Suraj Estate Developers Limited IPO?
The issue size of Suraj Estate Developers Limited IPO is approx ₹11,111,111 shares(aggregating up to ₹400.00 Cr) crores.
What is the price band of Suraj Estate Developers Limited IPO?
The price band for Suraj Estate Developers Limited IPO is ₹340 to ₹360 per equity share.
What is the lot size of Suraj Estate Developers Limited IPO?
The minimum bid (lot size) for Suraj Estate Developers Limited IPO is N/A shares with an investment of approx ₹14,760 .
What is the allotment date of Suraj Estate Developers Limited IPO?
The allotment date for Suraj Estate Developers Limited IPO is 21 Dec, 2023.
What is the listing date of Suraj Estate Developers Limited IPO?
The listing date for Suraj Estate Developers Limited IPO is expected to be 26 Dec, 2023.
What is the GMP of Suraj Estate Developers Limited IPO?
The latest Grey Market Premium (GMP) for Suraj Estate Developers Limited IPO is being updated regularly on IPOROCK.
Parth D.
Founder & Lead Analyst
Parth D. is a software engineer and financial analyst who brings a quantitative edge to IPO tracking. With deep expertise in algorithmic trading and financial tool development, he builds the technology that powers IPORock's real-time data engines. He has been tracking the Indian market since 2018.
