Suraj Estate Developers Limited IPO
- IPO Date18 Dec, 2023 to 20 Dec, 2023
- Listing Date26 Dec, 2023
- Face Value₹5 per share
- Issue Price₹340 to ₹360 per share
- Lot Size41 Shares
- Minimum Investment₹14,760
- Listing AtBSE, NSE
- Total Issue Size1,11,11,111 Shares
(aggregating up to ₹400.00 Cr) - Fresh Issue1,11,11,111 Shares
(aggregating up to ₹400.00 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue3,32,50,000
- Shareholding post issue4,43,61,111
IPO Dates
Closing Date
20 Dec, 2023
Initiation of Refunds
22 Dec, 2023
Listing Date
26 Dec, 2023
18 Dec, 2023
Opening Date
21 Dec, 2023
Basis of Allotment
22 Dec, 2023
Credit of Shares
Suraj Estate Developers Limited Lot Size
Investors can bid for a minimum of 41 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| S-HNI (Min) | 14 | 574 | ₹2,06,640 |
| S-HNI (Max) | 67 | 2747 | ₹9,88,920 |
| Retail (Min) | 1 | 41 | ₹14,760 |
| B-HNI (Min) | 68 | 2788 | ₹10,03,680 |
| Retail (Max) | 13 | 533 | ₹1,91,880 |
Suraj Estate Developers Limited Promoter Holding
Mr. Rajan Meenathakonil Thomas is the promoter of the company.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 100% | 74.95% |
Key Performance Indicator
Suraj Estate Developers IPO Market Cap is Rs 1597 Cr and P/E (x) is 35.64.
| KPI | Values |
|---|---|
| ROE | 58.18% |
| ROCE | 21.93% |
| RoNW | 58.18% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 35.64 | 10.1 |
| P/E (x) | 35.64 | 10.1 |
Suraj Estate Developers Limited COMPANY INFORMATION
Suraj Estate Developers IPO is a book built issue of Rs 400.00 crores. The issue is entirely a fresh issue of 1.11 crore shares. Suraj Estate Developers IPO opens for subscription on December 18, 2023 and closes on December 20, 2023. The allotment for the Suraj Estate Developers IPO is expected to be finalized on Thursday, December 21, 2023. Suraj Estate Developers IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, December 26, 2023. Suraj Estate Developers IPO 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. Iti Capital Ltd and Anand Rathi Securities Limited are the book running lead managers of the Suraj Estate Developers IPO, while Link Intime India Private Ltd is the registrar for the issue. Refer to Suraj Estate Developers IPO RHP for detailed information.
Incorporated in 1986, Suraj Estate Developers Limited is a real estate construction company. The company develops residential and commercial real estate in the South Central Mumbai region.
The company does not provide any in-house construction services and is 100% dependent on third-party contractors for the construction services of its Projects.
Suraj Estate Developers Limited has completed forty-two (42) projects in the South-Central Mumbai region.
In addition to the completed projects, the company has thirteen (13) ongoing projects and sixteen (16) upcoming projects.
The company's projects include 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.
As of September 30, 2023, the company, together with its subsidiaries, employed 126 permanent employees.
Suraj Estate has developed more than 10 lakh square feet of land in Mumbai. In the residential portfolio, Suraj Estate is present in the "Value Luxury' and "Luxury' segments in various price categories with unit values ranging from Rs. 10.00 million to Rs. 130.00 million.
In the commercial segment, Suraj Estate has built and sold corporate headquarters for institutional clients, namely Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India and Clearing Corporation of India Limited (Dadar).
FAQs About Suraj Estate Developers Limited Ipo
Suraj Estate Developers Limited IPO will open on 18 Dec, 2023 and close on 20 Dec, 2023. Investors must apply within this period to participate.
The Suraj Estate Developers Limited IPO price band is set between ₹340.00 and ₹360.00 per share. The minimum lot size is 41, requiring an investment of at least ₹14760.00.
The Suraj Estate Developers Limited IPO shares are expected to be listed on 26 Dec, 2023, subject to regulatory approvals and final allotment.
You can track your Suraj Estate Developers Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Suraj Estate Developers Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.