Suraj Estate Developers Limited is poised to launch its IPO, scheduled from December 18th to December 20th, 2023. Specializing in real estate construction, the offering encompasses a fresh issue of 11,111,111 shares valued at Rs. 400 crore. Share allotment is slated for December 21st, with the IPO anticipated to be listed on the stock exchanges by December 26th. The price band set for the IPO ranges from Rs. 340 to Rs. 360 per share, with a lot size fixed at 41 shares.
For this financial venture, ITI Capital Limited and Anand Rathi Advisors Limited stand as the appointed book-running lead managers, while Link Intime India Private Limited acts as the registrar.
Established in 1986, Suraj Estate Developers Limited specializes in real estate construction, focusing on residential and commercial properties primarily situated in South Central Mumbai. Its residential units span Mahim, Dadar, Prabhadevi, and Parel, primarily emphasizing redevelopment projects in this locale. The company targets value luxury, luxury, and commercial segments, offering units valued between Rs. 1 crore to Rs. 13 crore on average, and intends to expand into the Bandra sub-market shortly.
Since its inception, Suraj Estate Developers has completed 42 projects, encompassing a developed area exceeding 1,046,543.20 square feet in South-Central Mumbai. Presently, it manages 13 ongoing projects with an additional 16 projects in the pipeline.
Suraj Estate Developers Limited is gearing up for its IPO scheduled to be available for subscription from December 18th to December 20th, 2023. Allocation of shares is set for December 21st, 2023, with the IPO slated for listing on the stock exchanges on December 26th.
| IPO Open Date | 18th December 2023 (Monday) |
| IPO Close Date | 20th December 2023 (Wednesday) |
| Allotment Date | 21st December 2023 (Thursday) |
| Initiation of Refunds | 22nd December 2023 (Friday) |
| Credit to Demat Account | 22nd December 2023 (Friday) |
| Listing Date | 26th December 2023 (Tuesday) |
| Deadline for UPI mandate confirmation | 5 PM on 20th December 2023 (Wednesday) |
| IPO Date | 18th to 20th December 2023 |
| Listing Date | 26th December 2023 |
| Face Value | Rs. 5 per share |
| Price Band | Rs. 340 to Rs. 360 per share |
| Lot Size | 41 Shares |
| Total Issue Size | 11,111,111 shares (aggregating up to Rs. 400.00 Cr) |
| Fresh Issue | 11,111,111 shares (aggregating up to Rs. 400.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE and BSE |
| Share holding pre issue | 33,250,000 |
| Share holding post issue | 44,361,111 |
During the fiscal year ending on March 31, 2023, Suraj Estate Developers Limited demonstrated notable growth in its financial performance. The company experienced a commendable 12.41% upsurge in revenue and achieved a substantial 20.98% increase in its profit after tax (PAT) compared to the preceding fiscal year ending on March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 994.73 | 942.58 | 864.00 | 792.00 |
| Revenue | 102.81 | 307.89 | 273.91 | 244.00 |
| Profit After Tax | 14.53 | 32.06 | 26.50 | 6.28 |
| Net Worth | 86.11 | 71.39 | 39.16 | 29.15 |
| Reserves and Surplus | 70.29 | 55.48 | 23.32 | 22.94 |
| Total Borrowing | 598.50 | 593.09 | 638.16 | 600.48 |
| Amount in Rs. Crore | ||||
What is Suraj Estate Developers IPO?
The Suraj Estate Developers IPO marks a main-board offering comprising 11,111,111 equity shares at a face value of Rs. 5, collectively amounting to Rs. 400.00 Crores. With a price range set between Rs. 340 to Rs. 360 per share, the minimum order quantity stands at 41 shares. Investors can subscribe to this IPO between December 18th and December 20th, 2023, encompassing the subscription period.
When Suraj Estate Developers IPO will open for apply?
The Suraj Estate Developers IPO is scheduled to open for application on December 18, 2023.
What are the minimum lot size and investment needed for participating in the Suraj Estate Developers IPO?
The Suraj Estate Developers IPO mandates a minimum lot size of 41 shares, necessitating an investment totaling Rs. 13,940.
When is Suraj Estate Developers IPO allotment date?
The allotment date for the Suraj Estate Developers IPO is expected to be finalized on Thursday, December 21, 2023.
What is the Suraj Estate Developers IPO listing date?
The Suraj Estate Developers IPO is anticipated to be listed on the NSE and BSE platform with a tentative listing date set for Tuesday, December 26, 2023.
What is the price band of Suraj Estate Developers IPO?
The price band for the Suraj Estate Developers IPO is set between Rs. 340 to Rs. 360 per share.
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