Suraj Estate Developers IPO : Price, Detail, GMP, Opening Date, Financial Report and More

Established in 1986, Suraj Estate Developers Limited stands as a prominent real estate construction company, specializing in both residential and commercial developments within the South Central Mumbai region.

Unlike providing in-house construction services, the company relies entirely on third-party contractors for its project construction. With a robust track record, Suraj Estate Developers Limited has successfully completed forty-two projects in South-Central Mumbai, with thirteen ongoing projects and sixteen upcoming ventures.

Some noteworthy projects by the company include Suraj Eleganza-II, ICICI Apartments, CCIL Bhavan, Tranquil Bay-I, Elizabeth Apartment, Mon Desir, St. Anthony Apartments, Lumiere, Tranquil Bay-II, Brahmsidhhi CHS, Jacob Apartments, Suraj Eleganza-I, Gloriosa Apartments, and others.

As of September 30, 2023, the company, along with its subsidiaries, maintains a workforce of 126 permanent employees. Suraj Estate has significantly contributed to Mumbai’s landscape, developing over 10 lakh square feet of land. In the residential sector, the company caters to both the “Value Luxury” and “Luxury” segments, with unit values ranging from Rs. 10.00 million to Rs. 130.00 million.

In the commercial domain, Suraj Estate has successfully constructed and sold corporate headquarters for esteemed institutional clients such as Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar).

Key Points Regarding Suraj Estate Developers IPO

IPO Date18 December, 2023 to 20 December, 2023
Price BandRs 340 to Rs 360 per share
Face ValueRs 5 per share
Lot Size41 Shares
Total Issue Size11,111,111 shares (aggregating up to ₹400.00 Cr)
Listing Date26 December, 2023 as per the schedule
Listing AtBSE, NSE

Suraj Estate Developers IPO Overview

  • Book built issue of Rs 400.00 crores.
  • Entirely a fresh issue of 1.11 crore shares.

Subscription Details:

  • Opens for subscription on December 18, 2023, and closes on December 20, 2023.
  • Allotment expected on Thursday, December 21, 2023

Listing Information:

  • Tentative listing date is set for Tuesday, December 26, 2023, on BSE and NSE.

IPO Price Band:

  • Price band: ₹340 to ₹360 per share.

Lot Size and Investment:

  • Minimum lot size for an application: 41 shares.
  • Retail investors require a minimum investment of ₹14,760.

Investment Requirements for Qualified Investors:

  • sNII (Non-Institutional Investors): 14 lots (574 shares), totalling ₹206,640.
  • bNII (Non-Institutional Investors): 68 lots (2,788 shares), totalling ₹1,003,680.

Suraj Estate Developers Financials

Here’s a quick look at Suraj Estate Developers financial breakdown in terms of money (in  crores ).

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax14.5332.0626.506.28
Net Worth86.1171.3939.1629.15
Reserves and Surplus70.2955.4823.3222.94
Total Borrowing598.50593.09638.16600.48

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: [email protected]

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Who is the owner of Suraj Estate developer company?

Thomas Rajan, a founder of Suraj Estate developer began in the year 1986.

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