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Suraj Estate Developers IPO is a book build issue of ₹400.00 crores. The issue is entirely a fresh issue of 1.11 crore shares of ₹400.00 crore.
Suraj Estate Developers IPO bidding started from Dec 18, 2023 and ended on Dec 20, 2023. The allotment for Suraj Estate Developers IPO was finalized on Dec 21, 2023. The shares got listed on BSE, NSE on Dec 26, 2023.
Suraj Estate Developers IPO price band is set at ₹360.00 per share . The lot size for an application is 41. The minimum amount of investment required by an retail is ₹13,940 (41 shares). The lot size investment for sNII is 14 lots (574 shares), amounting to ₹2,06,640, and for bNII, it is 68 lots (2,788 shares), amounting to ₹10,03,680.
ITI Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Suraj Estate Developers IPO RHP for detailed Information.
| IPO Date | December 18, 2023 to December 20, 2023 |
| Listing Date | December 26, 2023 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹340 to ₹360 per share |
| Issue Price Final | ₹360 per share |
| Lot Size | 41 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,11,11,111 shares (aggregating up to ₹400.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 4,43,61,111 shares |
Suraj Estate Developers IPO offers total 1,11,11,111 shares. Out of which 55,55,555 (50.00%) allocated to QIB, 22,22,222 (20.00%) allocated to QIB, 16,66,667 (15.00%) allocated to NII, 38,88,889 (35.00%) allocated to RII and 33,33,333 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 55,55,555 (50.00%) | NA |
| − Anchor Investor Shares Offered | 33,33,333 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 22,22,222 (20.00%) | NA |
| NII (HNI) Shares Offered | 16,66,667 (15.00%) | NA |
| − bNII > ₹10L | 11,11,111 (10.00%) | 1,935 |
| − sNII < ₹10L | 5,55,556 (5.00%) | 967 |
| Retail Shares Offered | 38,88,889 (35.00%) | 94,850 |
| Total Shares Offered | 1,11,11,111 (100.00%) |
Suraj Estate Developers IPO raises ₹120.00 crore from anchor investors. Suraj Estate Developers IPO Anchor bid date is December 15, 2023. Suraj Estate Developers IPO Anchor Investors list
| Bid Date | December 15, 2023 |
| Shares Offered | 33,33,333 |
| Anchor Portion Size (In Cr.) | 120.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 20, 2024 |
Suraj Estate Developers IPO opens on December 18, 2023, and closes on December 20, 2023.
| IPO Open Date | Mon, Dec 18, 2023 |
| IPO Close Date | Wed, Dec 20, 2023 |
| Tentative Allotment | Thu, Dec 21, 2023 |
| Initiation of Refunds | Fri, Dec 22, 2023 |
| Credit of Shares to Demat | Fri, Dec 22, 2023 |
| Tentative Listing Date | Tue, Dec 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Dec 20, 2023 |
Investors can bid for a minimum of 41 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 41 | ₹14,760 |
| Retail (Max) | 13 | 533 | ₹1,91,880 |
| S-HNI (Min) | 14 | 574 | ₹2,06,640 |
| S-HNI (Max) | 67 | 2,747 | ₹9,88,920 |
| B-HNI (Min) | 68 | 2,788 | ₹10,03,680 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1986, Suraj Estate Developers Limited is a real estate construction company. The company develops residential and commercial real estate in the South Central Mumbai region.
The company does not provide any in-house construction services and is 100% dependent on third-party contractors for the construction services of its Projects.
Suraj Estate Developers Limited has completed forty-two (42) projects in the South-Central Mumbai region.
In addition to the completed projects, the company has thirteen (13) ongoing projects and sixteen (16) upcoming projects.
The company's projects include Suraj Eleganza-II and ICICI Apartments, CCIL Bhavan (Phase-I up to 6th floor) and Tranquil Bay-I, Elizabeth Apartment and Mon Desir, St. Anthony Apartments, Lumiere and Tranquil Bay-II, Brahmsidhhi CHS, Jacob Apartments, Suraj Eleganza-I and Gloriosa Apartments and others.
As of September 30, 2023, the company, together with its subsidiaries, employed 126 permanent employees.
Suraj Estate has developed more than 10 lakh square feet of land in Mumbai. In the residential portfolio, Suraj Estate is present in the "Value Luxury' and "Luxury' segments in various price categories with unit values ranging from Rs. 10.00 million to Rs. 130.00 million.
In the commercial segment, Suraj Estate has built and sold corporate headquarters for institutional clients, namely Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India and Clearing Corporation of India Limited (Dadar).
Suraj Estate Developers Limited's revenue increased by 12.41% and profit after tax (PAT) rose by 20.98% between the financial year ending with March 31, 2023 and 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 |
| Total Income | 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 ₹ Crore | ||||
The market capitalization of Suraj Estate Developers IPO is ₹1597.00 Cr.
| KPI | Values |
|---|---|
| ROE | 58.18% |
| ROCE | 21.93% |
| Debt/Equity | 8.31 |
| RoNW | 58.18% |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] SEDL specialized in regulation 33(7) of DCPR. It has earned name and fame with prestigious projects like ICICI Apartments, NEAT House, Saraswat Bank Bhavan, CCIL Bhavan, etc. and has also created a niche place in redevelopment of chawl, societies and private properties. It has posted steady growth for the reported periods and the management is confident of repeating the same with the work on hand and the land parcel bank. Based on FY24 annualized earnings, the issue appears fully priced. Investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | December 26, 2023 |
| BSE Script Code | 544054 |
| NSE Symbol | SURAJEST |
| ISIN | INE843S01025 |
| Final Issue Price | ₹360 per share |
| BSE Listing Group | B |
Suraj Estate Developers Ltd.
301, 3rd Floor, Aman Chambers,
Veer Savarkar Marg, Opp. Bengal Chemicals,
Prabhadevi,
Mumbai, Maharashtra, 400025
Phone: +91 22 2437 7877
Email: suraj@surajestate.com
Website: https://surajestate.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: surajestate.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Suraj Estate Developers IPO is a main-board IPO of 1,11,11,111 equity shares of the face value of ₹5 aggregating up to ₹400.00 Crores. The issue is priced at ₹360 per share. The minimum order quantity is 41.
The IPO opens on December 18, 2023, and closes on December 20, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Suraj Estate Developers IPO using UPI as a payment gateway. Zerodha customers can apply in Suraj Estate Developers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Suraj Estate Developers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Suraj Estate Developers IPO opens on December 18, 2023 and closes on December 20, 2023.
Suraj Estate Developers IPO lot size is 41, and the minimum amount required for application is ₹14,760.
You can apply in Suraj Estate Developers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Suraj Estate Developers IPO will be done on Thursday, December 21, 2023, and the allotted shares will be credited to your demat account by Friday, December 22, 2023. Check the Suraj Estate Developers IPO allotment status.
The Suraj Estate Developers IPO listing date is on Tuesday, December 26, 2023.
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