The initial public offering (IPO) of Suraj Estate Developers will open for subscription on December 18 and close on December 20, is a fresh issue of Rs. 400 Crores from the primary market. An investor can apply for the issue for a minimum of 41 shares and in multiples after that.
About Suraj Estate Developers Company
Suraj Estate Developers is engaged in the business of real estate across the residential and commercial sectors in the Mumbai region.
The company has completed 42 projects with a development area of more than 1,046,543.20 square feet in the south-central Mumbai region.
The company has 11 ongoing projects and 21 upcoming projects.
Suraj Estate Developers IPO Object
The objects of which the net proceeds from the issue shall be utilized are as follows:
- Repayment/prepayment of existing borrowing availed by the company from SCBs
- Acquisition of land or land development rights
- General Corporate Purposes
Suraj Estate Developer’s Strength
- Established brand with a long-standing presence in the value luxury segment
- Diversified portfolio
- Strong expertise in tenant settlement in redevelopment projects
- Marketing and sales strategies
- Experience promoters directors with extensive domain knowledge
Suraj Estate Developers IPO Review & Rating
| Issue Size | Rs. 400 Crore |
| Issue Price | Rs. 340-360 per share |
| Minimum Lot Size | 41 Shares |
| Total Profit (March 2023) | Rs. 32.06 Crore |
| P/E (x) | 35.64% |
| ROCE | 21.93% |
| Listing on | NSE and BSE |
| IPO Deliver Rating | Four |
Suraj Estate Developers IPO Dates, Price Band & Details
Suraj Estate Developers IPO will open on December 18, 2023, and close on December 20, 2023. The IPO list on December 26, 2023.
| Type of issue | Book Built Issue IPO |
| Issue Size | Rs. 400 Crore |
| Price Brand | Rs. 340-360 |
| Face Value | Rs. 5/- per share |
| IPO Open Date | December 18, 2023 |
| IPO Close Date | December 20, 2023 |
| IPO Allotment Date | December 21, 2023 |
| Refund Date | December 22, 2023 |
| Share Credit Date | December 22, 2023 |
| Listing Date | December 26, 2023 |
Suraj Estate Developers IPO Offer
Suraj Estate Developers IPO’s total issue size is 11,111,111 shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount |
| Fresh Issue | 11,111,111 | 400 Crore |
| Offer for Sale (OFS) | – | – |
Suraj Estate Developers Financials Review (million)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Total Revenue | 3057.44 | 2727.18 | 2399.87 |
| Net Worth | 713.92 | 391.63 | 291.47 |
| Profit | 320.64 | 265.04 | 62.77 |
| Borrowings | 5930.93 | 6381.57 | 6004.78 |
Suraj Estate Developers IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 10.10 | 8.35 | 1.98 |
| RoNW (%) | 58.18 | 77.22 | 23.62 |
| NAV (Rs.) | 22.49 | 12.33 | 45.90 |
Suraj Estate Developers IPO Peer Comparison (Top 2)
There are listed companies in India that are comparable in all aspects of business.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| Oberai Realty | 52.38 | 16.83 | 335.81 |
| Suntex Realty | 0.10 | 0.62 | 198.45 |
Suraj Estate Developers Company Promoters
As per the DRHP and RHP, the company has one promoter.
| Serial No. | Name |
| 01. | Rajan Meenathakonil Thomas |
Suraj Estate Developers Pre-offer and Post-Offer Promoters Shareholding
| Promoter and promoter group Shareholding | Percentage (%) |
| Pre-Issue | 100 |
| Post- Issue | 74.95 |
Suraj Estate Developers IPO Reservation
Suraj Estate Developers IPO total reservation shares are distributed between the below-mentioned categories.
| Category | No. of Shares |
| QIB Share Offered | Not less than 50% of the issue size |
| RII Share Offered | Not more than 35% of the issue size |
| NII Share Offered | Not more than 15% of the issue size |
Suraj Estate Developers IPO – Market Lot Size
An investor can apply for a minimum of 41 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail (Min.) | 1 | 41 | 14,760 |
| Retail (Max.) | 13 | 533 | 1,91,880 |
| HNI (Min.) | 14 | 574 | 2,06,640 |
| HNI (Max.) | 67 | 2,747 | 9,88,920 |
Suraj Estate Developers IPO – Prospectus
An investor can download/view the Suraj Estate Developers prospectus copy, which was filed by the company to SEBI, details are as follows.
| Suraj Estate Developers IPO Prospectus | Download/View Links |
| Draft Red Herring Prospectus (DRHP) | Click here |
| Red Herring Prospectus (RHP) | Click here |
Suraj Estate Developers IPO Registrar
Link Intime India Private Limited
Tel No.: +91-2249186200
E-Mail: surajestate.ipo@linkintime.co.in
Website: www.linkintime.co.in
Suraj Estate Developers IPO lead manager
#1. ITI Capital Limited
#2. Anand Rathi Advisors Limited
Suraj Estate Developers IPO Application (How to Apply for an IPO)
There are primary four options for applying for a Suraj Estate Developers IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Suraj Estate Developers Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked till the allotment date, and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Suraj Estate Developers Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
Suraj Estate Developers Company Details
Suraj Estate Developers Limited
Registered Office: 301, 3rd Floor, Aman Chambers, Veer Savarkar Marg, Opp. Bengal Chemicals, Prabhadevi, Mumbai – 400025
Tel. No: +91-2224377877
Email: suraj@surajestate.com
Website: www.surajestate.com
Investor Grievances/Compliance Officer: Shivil Kapoor
Suraj Estate Developers Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | Accord Estates Private Limited |
| 02. | Skyline Realty Private Limited |
Suraj Estate Developers Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | Rajan Meenathakonil Thomas |
| 02. | Rahul Rajan Jesu Thomas |
Suraj Estate Developers IPO – Frequently Asked Questions (FAQs)
| #1. What is Suraj Estate Developers IPO?
Suraj Estate Developers brings its IPO of Rs. 400 Crores, on December 18, 2023, with a price band of Rs. 340-360 per share. |
| #2. What is the Suraj Estate Developers IPO Open date?
Suraj Estate Developers IPO’s opening date is December 18, 2023. |
| #3. What is the Suraj Estate Developers IPO Close Date?
Suraj Estate Developers IPO’s closing date is December 20, 2023. |
| #4. What is the Suraj Estate Developers IPO Listing date?
Suraj Estate Developers’s IPO listing date is December 26, 2023. |
| #5. What is the Suraj Estate Developers IPO Minimum investment amount?
Suraj Estate Developers IPO’s minimum investment amount is Rs. 14,760. |
| #6. What is the Suraj Estate Developers IPO offer issue Size?
Suraj Estate Developers offers an issue size of Rs. 400 Crores. |
| #7. What is the Suraj Estate Developers IPO Price Band?
Suraj Estate Developers’s IPO price band is Rs. 340-360 per share. |
| #8. Is Suraj Estate Developers IPO mainboard IPO or SME IPO?
Suraj Estate Developers IPO is a Mainboard IPO. |
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