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Posted on  December 13, 2023 under  by Meghna Mundhra

Suraj Estate Developers IPO Details - Complete Overview of Suraj Estate Developers Limited IPO

Suraj Estate Developers IPO Price: ₹340 - ₹360
IPO Date Range:
Dec 18, 2023 - Dec 20, 2023

Foundation & Business Essence:

Established in 1986, Suraj Estate Developers Limited stands as a stalwart in the realm of real estate construction. Specializing in crafting both residential and commercial properties, the company focuses its expertise on the vibrant landscape of South Central Mumbai.

Project Portfolio:

The company doesn't handle construction in-house; they rely entirely on third-party contractors for their projects. Suraj Estate Developers Limited has successfully finished forty-two (42) projects in South-Central Mumbai. Currently, they're juggling thirteen (13) ongoing projects while gearing up for sixteen (16) upcoming ones.

Their portfolio includes a range of projects like Suraj Eleganza-II, ICICI Apartments, CCIL Bhavan, Tranquil Bay-I, Elizabeth Apartment, St. Anthony Apartments, Lumiere, Tranquil Bay-II, Suraj Eleganza-I, Gloriosa Apartments, and more.

Network and Presence

By September 30, 2023, the company and its subsidiaries had a total of 126 permanent employees. Suraj Estate has developed over 10 lakh square feet of land in Mumbai. Their residential projects span the "Value Luxury" and "Luxury" categories, featuring units valued between Rs. 10.00 million and Rs. 130.00 million.

In the commercial sector, Suraj Estate has constructed and sold corporate headquarters to institutional clients like Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar).

Bidding Starts In

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Suraj Estate Developers IPO Specifics:

IPO DateDecember 18, 2023 to December 20, 2023
Listing DateTuesday, December 26, 2023
Face Value₹5 per share
Price Band₹340 to ₹360 per share
Lot Size41 shares
Total Issue Size11,111,111 shares
(aggregating up to ₹400.00 Cr)
Fresh Issue11,111,111 shares
(aggregating up to ₹400.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue33,250,000
Share holding post issue44,361,111

Suraj Estate Developers IPO Lot Size

Investors have the option to bid for a minimum of 41 shares, and they can bid in multiples of that number. The table below illustrates the minimum and maximum investments allowed for retail investors and HNIs in both shares and amounts.

ApplicationLotsSharesAmount
Retail (Min)141₹14,760
Retail (Max)13533₹191,880
S-HNI (Min)14574₹206,640
S-HNI (Max)672,747₹988,920
B-HNI (Min)682,788₹1,003,680

Suraj Estate Developers IPO Reservation

QIB Shares OfferedNot more than 50% of the Net Issue
Retail Shares OfferedNot less than 35% of the Net Issue
NII (HNI) Shares OfferedNot less than 15% of the Net Issue

Suraj Estate Developers IPO Timetable (Important Dates)

IPO Open DateMonday, December 18, 2023
IPO Close DateWednesday, December 20, 2023
Basis of AllotmentThursday, December 21, 2023
Initiation of RefundsFriday, December 22, 2023
Credit of Shares to DematFriday, December 22, 2023
Listing DateTuesday, December 26, 2023
Cut-off time for UPI mandate confirmation5 PM on December 20, 2023

Don't Miss Out!

Whether you're a seasoned investor or just starting out, Lakshmishree ensures you don't miss out on premier IPO opportunities. Dive into the future of investing with Lakshmishree.

Suraj Estate Developers Limited IPO Financial Information

Suraj Estate Developers Limited experienced a 12.41% rise in revenue and a 20.98% increase in profit after tax (PAT) from the financial year ending March 31, 2022, to March 31, 2023.

Period Ended31 Mar 202131 Mar 202231 Mar 202330 June 2023
Assets792864942.58994.73
Revenue244273.91307.89102.81
Profit After Tax6.2826.5032.0614.53
Net Worth29.1539.1671.3986.11
Reserves & Surplus22.9423.3255.4870.29
Total Borrowings600.48638.16593.09598.50
Amount in ₹ Crore

Key Performance Indicator - Suraj Estate Developers IPO

KPIValues
P/E (x)37.33
Post P/E (x)49.91
Market Cap (₹ Cr.)1597
ROE58.18%
ROCE21.93%
Debt/ Equity8.31
EPS (Rs)10.1
RoNW58.18%

Objects of the Issue:

The company plans to use the funds raised from the issue for the following purposes:

  • Repayment or prepayment of outstanding borrowings across the company and its subsidiaries, including Accord Estates Private Limited and Iconic Property Developers Private Limited.
  • Acquisition of land or land development rights.
  • General corporate purposes.

Prospectus Links:

Prospectus: Official documents that provide detailed information about the IPO and the company. Suraj Estate Developers IPO DRHP and Suraj Estate Developers IPO RHP.

Frequently Asked Questions

What is an IPO?

An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.

Why do companies go public with an IPO?

Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.

What is the price range for the "Suraj Estate Developers Limited" IPO?

The price range for the"Suraj Estate Developers Limited" IPO is ₹340 to ₹360 per share.

When will the "Suraj Estate Developers Limited" IPO be listed on the stock exchange?

The "Suraj Estate Developers Limited" IPO is expected to be listed on Tuesday, 26 December 2023.

How to apply for an IPO with Lakshmishree?

To apply for an IPO with Lakshmishree:
Go to www.lakshmishree.com/ipo
Select the desired IPO and fill in the required details.
Confirm your application and make the payment.
Once applied, you can track the status of your application on the platform or get in your registered Email ID.

How can I check the subscription status of an IPO on Lakshmishree?

Log in to your Lakshmishree account and navigate to the 'IPO' section. Here, you can view live updates on the subscription status of ongoing IPOs.

Written by Meghna Mundhra

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