Suraj Estate Developers IPO Overview: Suraj Estate Developers is gearing up for its IPO, set to grace the market on December 18, with the closing date on December 20. The IPO aims to mobilize approximately ₹400 crores, featuring a fresh issue of ₹400 crores and an offer for sale of up to ₹[.] crores at ₹5 per share. The allocation includes 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net Worth Individuals (HNI).
In the real estate domain since 1986, Suraj Estate Developers has left an indelible mark in the residential and commercial sectors of South Central Mumbai. Venturing into the Bandra submarket, their residential portfolio spans the “value luxury” and “luxury” segments, catering to diverse price points ranging from ₹10.00 million to ₹130.00 million.
In the commercial realm, they have successfully constructed and sold built-to-suit corporate headquarters to esteemed clients such as Saraswat Cooperative Bank Limited (Prabhadevi) and Clearing Corporation of India Limited (Dadar). Anticipating the demand for smaller independent offices, the company plans to explore boutique office spaces on Tulsi Pipe Road, Mahim.
From 2016 to 2023 (Q1), Suraj Estate Developers has launched 15 residential projects, with a substantial majority (87%) being redevelopment initiatives. Notably, they have provided cost-free redevelopment for more than 1,011 tenants under regulation 33(7) of the Development Control and Promotion Regulation, 2034 (“DCP Regulations”). As of March 31, 2023, there are 14,207 cessed properties in the island city of Mumbai awaiting redevelopment.
With a significant residential presence in Mahim, Dadar, Prabhadevi, and Parel, sub-markets of South Central Mumbai, Suraj Estate Developers holds a prominent position in the market. They stand among the top ten developers, ranking first with a 15.92% market share in supply (number of units) and absorption (number of units) with a leading 16.99% market share.
Investors are closely eyeing this IPO, considering Suraj Estate Developers’ strong foothold and leadership position in key markets.
Purpose of the Offering:
- Settling or paying off the total outstanding loans of the company and its subsidiaries, namely Accord Estates Private Limited and Iconic Property Developers Private Limited.
- Procuring land or rights for land development.
- Catering to general corporate needs.
Suraj Estate Developers IPO Review (Apply or Not)
- May Apply
Brokerage Firm IPO Review
- Swastika Investmart: Apply
Suraj Estate Developers IPO: Information on Date and Price Band.
| IPO Open: | 18-December-2023 |
| IPO Close: | 20-December-2023 |
| IPO Size: | Approx ₹400 Crores |
| Fresh Issue: | Approx ₹400 Crores |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹340 to ₹360 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
The market lot for Suraj Estate Developers IPO:
For the Suraj Estate Developers IPO, the smallest investment unit consists of 41 shares, requiring an application amount of ₹14,760. If you’re a retail investor, you have the flexibility to apply for up to 13 lots, totaling 533 shares or an amount of ₹191,880.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 41 | ₹14,760 |
| Retail Maximum | 13 | 533 | ₹191,880 |
| S-HNI Minimum | 14 | 574 | ₹206,640 |
| B-HNI Minimum | 68 | 2,788 | ₹1,003,680 |
Suraj Estate Developers IPO: Allotment and Listing Dates.
The Suraj Estate Developers IPO is scheduled to commence on December 18, and the subscription window will come to a close on December 20. The allotment of IPO shares is expected to be concluded by December 21, paving the way for the official listing on December 26.
| Anchor Investors Allotment: | 15-December-2023 |
| IPO Open Date: | 18-December-2023 |
| IPO Close Date: | 20-December-2023 |
| Basis of Allotment: | 21-December-2023 |
| Refunds: | 22-December-2023 |
| Credit to Demat Account: | 22-December-2023 |
| IPO Listing Date: | 26-December-2023 |
You may monitor the subscription status and allotment status of the IPO on their respective pages.
Applying for Suraj Estate Developers IPO
Keen on participating in the Suraj Estate Developers IPO? Here are two convenient ways to apply. Firstly, you can opt for ASBA through your bank account. Simply log in to your online banking, navigate to the Invest section, and select Suraj Estate Developers IPO for your application. Alternatively, you can choose the traditional route by downloading IPO forms from NSE and BSE. Click on BSE Forms & NSE Forms, download the blank IPO forms, fill them out, and submit either directly to your bank or through your broker. It’s hassle-free!
Suraj Estate Developers Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹244 | ₹235 | ₹6.28 |
| 2022 | ₹238 | ₹238 | ₹26.50 |
| 2023 | ₹265 | ₹265 | ₹32.06 |
Suraj Estate Developers IPO Valuation – FY2023
Check Suraj Estate Developers IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹10.10 per Equity Share |
| Industry Price/Earning P/E Ratio: | 557.22 (Average) |
| Return on Net Worth (RoNW): | 58.18% |
| Net Asset Value (NAV): | ₹22.49 per Equity Share |
Peer Group
- Oberoi Realty Limited
- Sunteck Realty Limited
- Keystone Realtors Limited
- Shriram Properties Limited
- Mahindra Lifespace Developers Limited
- D B Realty Limited
- Hubtown Limited
Company Promoters
- Mr. Rajan Meenathakonil Thomas
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 Allotment Status Check
Check Suraj Estate Developers IPO allotment status on Linkintime website allotment URL. Click Here
Suraj Estate Developers IPO Lead Managers aka Merchant Bankers
- Iti Capital Ltd
- Anand Rathi Securities Limited
Company Address
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 is the Suraj Estate Developers IPO opening and closing date?
The IPO is set to open on December 18 and will close on December 20.
When will the Suraj Estate Developers IPO allotment be finalized?
The allotment process is expected to be completed by December 21.
On which date is the Suraj Estate Developers IPO scheduled to be listed?
The IPO is set to be listed on December 26.
What is the minimum market lot for the Suraj Estate Developers IPO?
The minimum market lot is 41 shares, with an application amount of ₹14,760.
How many lots can retail investors apply for in the Suraj Estate Developers IPO?
Retail investors have the option to apply for up to 13 lots, totaling 533 shares or ₹191,880.
