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

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)

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Suraj Estate Developers IPO Date & Price Band Details

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.

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.

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

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.

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