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Suraj Estate Developers Ltd

Realty

Offer Period :

18th to 20th Dec 2023

Founded in 1986, Suraj Estate Developers Limited specializes in residential and commercial real estate construction in South Central Mumbai. With 42 completed projects, Read more... 13 ongoing, and 16 upcoming, the company employs 126 permanent staff. Its portfolio ranges from "Value Luxury" to "Luxury" segments.Read less

Suraj Estate Developers Ltd IPO Details

IPO Date 18th to 20th Dec 2023 Minimum Investment ₹14760 / 1 Lots
Listing Date 2023-12-26 Maximum Investment ₹191880 / 13 Lots
Face Value ₹5 per share Total Issue Size ₹400 Crores
Price ₹360 to ₹360 per share Fresh Issue ₹400 Crores
Lot Size 1 Lots (41 Shares) Offer For Sale ₹ 0
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹0 per share    
IPO Date 18th to 20th Dec 2023
Listing Date 2023-12-26
Face Value ₹5 per share
Price ₹360 to ₹360 per share
Lot Size 1 Lots (41 Shares)
Listing At BSE, NSE
Employee Discount ₹0 per share
Minimum Investment ₹14760 / 1 Lots
Maximum Investment ₹191880 / 13 Lots
Total Issue Size ₹400 Crores
Fresh Issue ₹400 Crores
Offer For Sale
Retail Discount ₹ 0

Timeline

Important dates for allocation and IPO listing.

18th Dec

IPO Starts

20th Dec

IPO Ends

21st Dec

Allotment Date

22nd Dec

Initiation of Refund

22nd Dec

Credit of Shares to Demat Account

26th Dec

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 82.05 61.5
Public Group 17.95 38.5

Suraj Estate Developers Ltd IPO Reservation

QIB Shares Offered 2222222(20%)
NII (HNI) Shares Offered 1666666(15%)
Retail Shares Offered 3888889(35%)
Anchor Investor Shares Offered 3333334(30%)
Total Shares Offered 11111111
Total Shares With Anchor Investor 11111111

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

Suraj Estate Developers Ltd IPO Registrar

Link Intime India Pvt Ltd
Phone Number +91 22 49186200
Email Id surajestate.ipo@linkintime.co.in
Our Website www.linkintime.co.in

Suraj Estate Developers Ltd IPO Lead Manager

1. ITI Capital Ltd

2. Anand Rathi Advisors Ltd

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Suraj Estate Developers Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed

Strength of Suraj Estate Developers Ltd

1. The Company has established brand with a long standing presence in Value Luxury Segment and Luxury Segment in the residential real estate market of South Central Mumbai region;

2. The Company has diversified portfolio encompassing product offerings across various price points in value luxury and luxury segments;

3. The Company has expertise in tenant settlement in the redevelopment projects in residential sub-markets of Mahim, Matunga, Dadar, Prabhadevi, and Parel;

4. Its marketing and sales strategies

5. The Company has an experienced promoter and management team with its Chairperson and Managing Director who is also its Promoter, having over thirty six (36) years of experience in various aspects of real estate business.

Risks Involved

1. Its business is dependent on the performance of, and the conditions affecting, the real estate sub markets in the South-Central Mumbai region. As of October 31, 2023, the company did not have any ongoing projects in any other areas apart from South Central Mumbai. Consequently, the company is exposed to risks from economic, regulatory and other changes as well as natural disasters in the South Central Mumbai region, which in turn may have an adverse effect on its business, results of operations, cash flows and financial condition.

2. Any uncertainty in its title to the company real estate assets could have a material adverse impact on its current and future revenue.

3. Its redevelopment projects require compliance of the provisions of Regulation 33(7) of the Development Control and Promotion Regulation, 2034. The compliance inter alia involves tenant settlement, approvals from MHADA & MCGM, construction of the tenant and saleable portion units.

4. Its Inability to complete the company Ongoing Projects and Upcoming Projects by their respective expected completion dates or at all could have a material adverse effect on its business, results of operations and financial condition.

5. As of October 31, 2023, the company has total 216 unsold units in its Ongoing Projects. If its not able to sell the company project inventories in a timely manner, then it may adversely affect its business, results of operations and financial condition.

6. As of October 31, 2023, the company had 16 Upcoming Projects which are in the preliminary stages of planning and require approvals and renewals of certain approvals from Brihan mumbai Municipal Corporation for its projects that are typically valid for one year from the date of approval. Any difficulties in fulfilling certain conditions precedent in respect of those projects, and any delay or failure to obtain required approvals or renewal of approvals may require it to reschedule its Ongoing Projects and Upcoming Projects which may have adverse effect on its operations. Further, the Company has to stop the construction activity in the event of withdrawal of such licenses/approval.

7. Its business is subject to seasonality and its may experience difficulties in expanding the company's business into additional geographical markets including MMR region which may contribute to fluctuations in its results of operations and financial condition.

8. The industry in which its operate is competitive and highly fragmented resulting in increased competition that may adversely affect its results.

9. Any negative cash flows in the future would adversely affect its cash flow requirements, which may adversely affect the company's ability to operate its business and implement its growth plans, thereby affecting its financial condition.

10. Its Statutory Auditors have included certain matters of emphasis in the company's Financial Statements.

Why should you invest in

-

Financials

Particulars For the financial year ending (in ₹ million)
  2024 2023 2022
Total Assets 1290.38 1004.28 864
Total Liabilities 1290.38 1004.28 864
Total Expenses 321.84 264.68 237.76
Total Revenue 
415.7 307.89 273.91
Profit After Tax 67.5 32.16 26.38
EBITDA 236.42 153.15 132.92
Adjusted EBITDA 0 0 0

Suraj Estate Developers Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2023-12-26 544054 SURAJEST
INE843S01025
₹360 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹360 ₹360
Open ₹343.8 ₹340
Low ₹323.95 ₹324.05
High ₹354.35 ₹354.45
Low ₹323.95 ₹324.05

Frequently Asked Questions

What is Suraj Estate Developers Ltd IPO?

Answer Field

Suraj Estate Developers Ltd IPO is a Mainboard IPO of 1,11,11,111 equity shares of a face value of ₹5 aggregating up to ₹400 Crores. The issue is priced at ₹360 to ₹360 per share. The minimum order quantity is 41 Shares. The IPO opens on December 18, 2023, and closes on December 20, 2023. Link Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Suraj Estate Developers Ltd IPO will open?

Answer Field

The Suraj Estate Developers Ltd IPO opens on December 18, 2023 and closes on December 20, 2023.

What is the lot size of Suraj Estate Developers Ltd?

Answer Field

Suraj Estate Developers Ltd lot size is 41 shares, and the minimum amount required is ₹14,760.

How to apply for Suraj Estate Developers Ltd IPO?

Answer Field

You can apply in Suraj Estate Developers Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Suraj Estate Developers Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Suraj Estate Developers Ltd IPO will be done on December 21, 2023, and the allotted shares will be credited to your demat account by December 22, 2023.

When is Suraj Estate Developers Ltd IPO listing date?

Answer Field

The Suraj Estate Developers Ltd listing date is December 26, 2023.

Who is the registrar of Suraj Estate Developers Ltd IPO?

Answer Field

The registrar of Suraj Estate Developers Ltd IPO is Link Intime India Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

ITI Capital Ltd,Anand Rathi Advisors Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Suraj Estate Developers Ltd IPO?

Answer Field

The fresh issue size is ₹400 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Suraj Estate Developers Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 41 shares and ₹14,760 amount.

How can I approve the UPI mandate request for Suraj Estate Developers Ltd IPO?

Answer Field

To apply for Suraj Estate Developers Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Suraj Estate Developers Ltd?

Answer Field

The price of each Suraj Estate Developers Ltd share will be ranging in between ₹360 to ₹360 per share.

What is the cut-off time for the UPI mandate for Suraj Estate Developers Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, December 20, 2023.

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