Suraj Estate Developers IPO: Check IPO Date, Price, Details | Espresso

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Suraj Estate Developers Ltd IPO opens on December 18. Check IPO Details Issue Date Price

December 15, 2023
Suraj Estate Developers Ltd IPO opens on December 18. Check IPO Details Issue Date Price

Suraj Estate Developers Limited is coming out with a fresh public issue to raise Rs 400 crores from the market.

Below are the details of the Suraj Estate Developers Limited IPO:

  • Issue opens – December 18 (Monday)
  • Issue closes – December 20 (Wednesday)
  • Issue size – Rs 400 crores
  • Price band – Rs 340 to 360 per equity share
  • Bid lot – 41 shares and in multiples thereof

And here are some details of the company and further details on the Suraj Estate Developers Limited IPO.

Company details:

  • Suraj Estate Developers Limited have been involved in the real estate business since 1986 and develop real estate across the residential and commercial sectors in South Central Mumbai region. They have a residential portfolio located in the markets of Mahim, Dadar, Prabhadevi and Parel, which are sub-markets of the South-Central Mumbai micro market where they have established their presence. They are focused primarily on value luxury, luxury segments and commercial segment. They are now venturing into residential real estate development in Bandra sub-market.
  • They have completed 4 projects in preceding three Financial Years. The completion timelines for each of the projects varies according to scope of work, project size, construction and approval complexities, conditions related to the project site and external factors which are beyond control of the Company. The Company has completed 42 projects in the last 37 years of its existence delivering on an average 3 to 4 projects in 3 years.
  • In their residential portfolio, they are present across the “value luxury” and “luxury” segments across multiple price points with unit values ranging from ?10.00 million to ?130.00 million. In their commercial portfolio, they have constructed and sold built-to-suit corporate headquarters to their institutional clientele namely, Saraswat Cooperative Bank Limited (Prabhadevi) and Clearing Corporation of India Limited (Dadar). To cater to the increasing need for smaller independent offices in the commercial segment, they plan to foray into developing boutique office spaces on Tulsi Pipe Road, Mahim.
  • They have a longstanding presence of over thirty-six (36) years in the real estate market in Mumbai. Their customer centric business model focuses on addressing customer requirements in various locations, ticket sizes and configurations. Their ability to deliver differentiated product offerings through their deep understanding of the real estate market coupled with design and execution capabilities, strong brand presence and extensive marketing initiatives has helped them to successfully grow their business.

Issue Size: Rs. 400 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 200.00 crores
  • NIB – 15% of the offer – Rs 60.00 crores
  • RET – 35% of the offer – Rs 140.00 crores

Listing: BSE and NSE

Registrar: Link Intime India Private Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

  • Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Wednesday, December 20, 2023     

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