Suraj Estate Developers (MAINBOARD)
Dec 18, 2023 - Dec 20, 2023
| Price | ₹340 - ₹360 |
| Premium | ₹15 |
|---|---|
| Lot size | 41 |
| Allotment | Dec 22, 2023 |
| Listing | Dec 26, 2023 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 41 | 14760 | 94851 |
| sHNI | 14 | 574 | 206640 | 968 |
| bHNI | 68 | 2788 | 1003680 | 1936 |
Last Updated as on 20-Dec-2023 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 2222221 | 57201396 | 25.74 |
| HNIs | 1666667 | 33360757 | 20.02 |
| HNIs (10+L) | 1111112 | 20410005 | 18.37 |
| HNIs (2-10L) | 555555 | 12950752 | 23.31 |
| Retail | 3888889 | 38283504 | 9.84 |
| Total | 7777777 | 128845657 | 16.57 |
| Total Application : 922,943 | |||
| QIB Cost (7 Days) per share | |||||
|---|---|---|---|---|---|
| @7% ₹12.44 | @8% ₹14.22 | @9% ₹15.99 | @10% ₹17.77 | @11% ₹19.55 | @12% ₹21.33 |
Incorporated in 1986, Suraj Estate Developers Limited is a real estate construction company with a focus on best-in-class collaborations and client assurance.
The company has over 35 years of experience in developing real estate across the residential and commercial sectors in the South Central Mumbai region. Suraj has developed over 10 lakh square feet of land in Mumbai. In the residential portfolio, Suraj is 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 the commercial portfolio, Suraj has constructed and sold built-to-suit corporate headquarters to institutional clientele namely, Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar). The company has built more than 40 projects across residential and commercial segments in Mumbai.
From 2016 to 2023 (Q1), the company has launched 15 residential projects out of which 13 projects (~87%) are redevelopment 178 projects. As of March 31, 2023, Suraj has redeveloped houses for more than 1,011 tenants free of cost under regulation 33(7) of the Development Control and Promotion Regulation, 2034 (DCP Regulations). As of May 31, 2023, the company has completed 42 projects with a developed area of more than 1,046,543.20 square feet in the South Central Mumbai region. In addition to the Completed Projects, it has 11 Ongoing Projects with a developable area of 1,714,962.03 square feet, and saleable RERA carpet area of 497,774 square feet, and 21 Upcoming Projects with an estimated carpet area of 843,192 square feet.
Suraj Estate Developers was awarded Best Developer of the Year - Residential at the CNN-News18 Real Estate & Business Excellence Awards in Mumbai, on February 2, 2020.
Suraj Estate Developers IPO Details
| Issue Size | [11111111] shares (aggregating up to ₹400.00 Cr) |
| Fresh Issue | [11111111] shares (aggregating up to ₹400.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 33,250,000 |
Suraj Estate Developers IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Company Financials
Suraj Estate Developers Limited Financial Information (Restated Consolidated)
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 | 30 Jun 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 994.73 | 942.58 | 864.00 | 792.00 |
| Revenue | 102.81 | 307.89 | 273.91 | 244.00 |
| Profit | 14.53 | 32.06 | 26.50 | 6.28 |
| Net Worth | 86.11 | 71.39 | 39.16 | 29.15 |
| Reserves | 70.29 | 55.48 | 23.32 | 22.94 |
| Borrowing | 598.50 | 593.09 | 638.16 | 600.48 |
| Amount in ₹ Crore | ||||
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: surajestate.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html