Suraj Estate Developers IPO Date, Review, Price, Allotment Details

Suraj Estate Developers IPO Details: Suraj Estate Developers IPO date is fixed, the IPO is to hit the market on December 18 and will close on December 20. Suraj Estate Developers IPO to raise around ₹400 crores via IPO that comprises fresh issue of ₹400 crores and offer for sale up to ₹[.] crores of ₹5 each. The retail quota is 35%, QIB is 50%, and HNI is 15%.
Suraj Estate Developers IPO

Table of Contents

Suraj Estate Developers has been involved in the real estate business since 1986 and develops real estate across the residential and commercial sectors in the South Central Mumbai region. They are now venturing into residential real estate development in the Bandra submarket. 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 our 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.

From 2016 to 2023 (Q1), Suraj Estate Developers launched 15 residential projects out of which 13 projects (~87%) are redevelopment 178 projects. As of March 31, 2023, the company 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 the date of this Draft Red Herring Prospectus, there are 14,207 number of cessed properties in the island city of Mumbai that are yet to be redeveloped.

Suraj Estate Developers Limited has a major 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 and are one of the market leaders in these locations. They are among the top ten developers as per supply (in number of units). Out of the top ten developers, they rank first with a 15.92% market share. They are also among the top ten developers as per absorption (in number of units) where they rank first with a 16.99% market share.


Objects of the Issue

  • Repayment/Prepayment of the aggregate outstanding borrowings of the company and its subsidiaries, Accord Estates Private Limited and Iconic Property Developers Private Limited.
  • Acquisition of land or land development rights.
  • General corporate purposes.

Suraj Estate Developers IPO Review (Apply or Not)

  • May Apply

Brokerage Firm IPO Review

  • Swastika Investmart: Apply

Suraj Estate Developers IPO Date & Price Band Details

IPO Open:December 18, 2023
IPO Close:December 20, 2023
IPO Size:Approx ₹400 Crores
Fresh Issue:Approx ₹400 Crores
Face Value:₹5 Per Equity Share
IPO Price Band:₹340 to ₹360 Per Share
IPO Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
NII Quota:15%
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

Suraj Estate Developers IPO Market Lot

The Suraj Estate Developers IPO minimum market lot is 41 shares with ₹14,760 application amount. The retail investors can apply up-to 13 lots with 533 shares or ₹191,880 amount.

ApplicationLot SizeSharesAmount
Retail Minimum141₹14,760
Retail Maximum13533₹191,880
S-HNI Minimum14574₹206,640
B-HNI Minimum682,788₹1,003,680

Suraj Estate Developers IPO Allotment & Listing Dates

The Suraj Estate Developers IPO date is December 18 and the close date is December 20. The Suraj Estate Developers IPO allotment will be finalized on December 21 and the IPO listing on December 26.

Anchor Investors Allotment:December 15, 2023
IPO Open Date:December 18, 2023
IPO Close Date:December 20, 2023
Basis of Allotment:December 21, 2023
Refunds:December 22, 2023
Credit to Demat Account:December 22, 2023
IPO Listing Date:December 26, 2023

You can check IPO subscription status and IPO allotment status on their respective pages.

Suraj Estate Developers IPO Form

How to apply for the Suraj Estate Developers IPO? You can apply for Suraj Estate Developers IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Suraj Estate Developers IPO in the Invest section. The other option is you can apply for Suraj Estate Developers IPO via IPO forms downloaded via NSE and BSE. Check out the Suraj Estate Developers forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.


Suraj Estate Developers Company Financial Report

  ₹ in Crores
YearRevenueExpensePAT
2021₹244₹235₹6.28
2022₹238₹238₹26.50
2023₹265₹265₹32.06

Suraj Estate Developers IPO Valuation – FY2023

Check Suraj Estate Developers IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Earning Per Share (EPS):₹10.10 per Equity Share
Industry Price/Earning P/E Ratio:557.22 (Average)
Return on Net Worth (RoNW):58.18%
Net Asset Value (NAV):₹22.49 per Equity Share

Peer Group

  • Oberoi Realty Limited
  • Sunteck Realty Limited
  • Keystone Realtors Limited
  • Shriram Properties Limited
  • Mahindra Lifespace Developers Limited
  • D B Realty Limited
  • Hubtown Limited

Company Promoters

  • Mr. Rajan Meenathakonil Thomas

Suraj Estate Developers IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://www.linkintime.co.in/

Suraj Estate Developers IPO Allotment Status Check

Check Suraj Estate Developers IPO allotment status on Linkintime website allotment URL. Click Here

Suraj Estate Developers IPO Lead Managers aka Merchant Bankers

  • Iti Capital Ltd
  • Anand Rathi Securities Limited

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]
Website: https://surajestate.com/

Suraj Estate Developers IPO FAQs

What is Suraj Estate Developers IPO?

Suraj Estate Developers IPO is a main-board IPO. They are going to raise ₹400 Crores via IPO. The issue is priced at ₹340 to ₹360 pr equity share. The IPO is to be listed on BSE & NSE.

When Suraj Estate Developers IPO will open?

The IPO is to open on December 18, 2023 for QIB, NII, and Retail Investors.

What is Suraj Estate Developers IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

How to Apply the Suraj Estate Developers IPO?

You can apply for Suraj Estate Developers IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

How to Apply the Suraj Estate Developers IPO through Zerodha?

Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Suraj Estate Developers”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

How to Apply the Suraj Estate Developers IPO through Upstox?

Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Suraj Estate Developers”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.

How to Apply the Suraj Estate Developers IPO through Paytm Money?

Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “Suraj Estate Developers”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.

What is Suraj Estate Developers IPO Size?

Suraj Estate Developers IPO size is ₹400 crores.

What is Suraj Estate Developers IPO Price Band?

Suraj Estate Developers IPO Price Band is ₹340 to ₹360.

What is the Suraj Estate Developers IPO Allotment Date?

Suraj Estate Developers IPO allotment date is December 21, 2023.

What is the Suraj Estate Developers IPO Listing Date?

Suraj Estate Developers IPO listing date is December 26, 2023. The IPO is to list on BSE and NSE.

Note: The Suraj Estate Developers IPO price band and date are officially announced. The IPO grey market premium (Suraj Estate Developers IPO Premium) will be added to the IPO grey market page as it will start).

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