Suraj Estate Developers IPO Details ( Suraj Estate Developers Limited IPO Review )
(18 Dec 2023 – 20 Dec 2023)
Suraj Estate Developers Limited started in 1986 and is a company that builds houses. They focus on making good partnerships and making sure customers are happy.
They have been doing this for over 35 years in the South Central Mumbai area. In Mumbai, they have built more than 10 lakh square feet of land. They make houses for people in different price ranges, from ₹10.00 million to ₹130.00 million.
They also build offices and have made special ones for companies like Saraswat Cooperative Bank Limited, National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited.
In total, they have made more than 40 projects with houses and offices in Mumbai. From 2016 to 2023, they started 15 new housing projects, and 13 of them were rebuilding old ones for 178 families. By March 31, 2023, they had rebuilt houses for more than 1,011 families for free.
As of May 31, 2023, they finished 42 projects, covering more than 1,046,543.20 square feet in the South Central Mumbai region. They are still working on 11 more projects, which will cover 1,714,962.03 square feet, and they have 21 more projects planned with an estimated area of 843,192 square feet.
Suraj Estate Developers was given the Best Developer of the Year – Residential award at the CNN-News18 Real Estate & Business Excellence Awards in Mumbai on February 2, 2020.
Suraj Estate Developers Limited IPO Competitive Strength
- Established brand with a long standing presence in Value Luxury Segment and Luxury Segment in the residential real estate market of South Central Mumbai region
- Diversified portfolio encompassing product offerings across various price points in value luxury and luxury segments
- Strong expertise in tenant settlement in the redevelopment projects
- Marketing and sales strategies
- Experienced promoters and management team
Suraj Estate Developers IPO Financials Performance ( Results )
Suraj Estate Developers Limited Financial Information (Restated Consolidated)
All Amount in ₹ Lakhs
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | NAV (₹) | Reserves | Borrowing |
| 31-Mar-21 | 792.00 | 244.00 | 6.28 | 1.98 | 29.15 | 45.90 | 22.94 | 600.48 |
| 31-Mar-22 | 864.00 | 273.91 | 26.50 | 8.35 | 39.16 | 12.33 | 23.32 | 638.16 |
| 31-Mar-23 | 942.58 | 307.89 | 32.06 | 10.10 | 71.39 | 22.49 | 55.48 | 593.09 |
| 30-Jun-23 | 994.73 | 102.81 | 14.53 | 4.58 | 86.11 | 27.12 | 70.29 | 598.50 |
Objective of Suraj Estate Developers IPO 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 Basic Details
| IPO Date | Dec 18, 2023 to Dec 20, 2023 |
| Listing Date | Tuesday, December 26, 2023 |
| Face Value | ₹5 per share |
| Price | ₹340 to ₹360 per share |
| Lot Size | 41 Shares |
| Issue Size | 11,111,111 shares of ₹5 (aggregating up to ₹400.00 Cr) |
| Fresh Issue | 11,111,111 shares of ₹5 (aggregating up to ₹400.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Share holding pre issue | 33,250,000 |
| Share holding post issue | 44,361,111 |
| Company Promoters | Mr. Rajan Meenathakonil Thomas |
Suraj Estate Developers IPO Reservation
| QIB Shares Offered | 50% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
Suraj Estate IPO Timetable
Suraj Estate IPO will open on December 18, 2023 and close on December 20, 2023. You can join Suraj Estate IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 18 December 2023 (Monday) |
| Closing Date | 20 December 2023 (Wednesday) |
| Basis of Allotment | 21 December 2023 (Thursday) |
| Initiation of Refunds | 22 December 2023 (Friday) |
| Credit of Shares to Demat | 22 December 2023 (Friday) |
| Listing Date | 26 December 2023 (Tuesday) |
| Deadline for UPI mandate confirmation | 5 PM on 20 December 2023 |
Suraj Estate IPO Lot Size
For retail investors in Suraj Estate IPO, 41 shares will come in 1 lot or the minimum investment will be ₹14,760. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹191,880.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 41 | ₹14,760 |
| Retail (Max) | 13 | 533 | ₹191,880 |
| S-HNI (Min) | 14 | 574 | ₹206,640 |
| S-HNI (Max) | 67 | 2,747 | ₹988,920 |
| B-HNI (Min) | 68 | 2,788 | ₹1,003,680 |
Suraj Estate Developers IPO Promoter Holding
The company’s promoters include Mr. Rajan Meenathakonil Thomas.
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 74.95% |
Suraj Estate Developers Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 1597 |
| Earning Per Share (EPS) | ₹10.10 per Equity Share |
| Net Asset Value (NAV) | ₹22.49 per Equity Share |
| P/E Ratio (P/E) (x) | 35.64 |
| Post P/E Ratio (P/E) (x) | 49.81 |
| Return on Net Worth (RoNW) (%) | 58.18 |
| Return on equity (ROE) (%) | 58.18 |
| Return on Capital Employed (ROCE) (%) | 21.93 |
| Debt/Equity Ratio | 8.31 |
Suraj Estate Developers Ltd Peer Comparison
| Company Name | Consolidated/ Standalone | Face Value | CPM (₹) | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) |
| Suraj Estate Developers Limited | Consolidated | 5.00 | 360.00 | 10.10 | 49.81 | 58.18 | 22.49 |
| Peer Group | |||||||
| Oberoi Realty Limited | Consolidated | 10.00 | 1342.40 | 52.38 | 25.63 | 16.83 | 335.81 |
| Sunteck Realty Limited | Consolidated | 1.00 | 453.60 | 0.10 | 4536.00 | 0.62 | 198.45 |
| Keystone Realtors Limited | Consolidated | 10.00 | 543.25 | 7.67 | 70.83 | 6.29 | 146.59 |
| Shriram Properties Limited | Consolidated | 10.00 | 106.38 | 3.88 | 27.42 | 5.63 | 70.58 |
| Mahindra Lifespace Developers Limited | Consolidated | 10.00 | 510.85 | 6.56 | 77.87 | 5.64 | 116.75 |
| D B Realty Limited | Consolidated | 10.00 | 211.95 | -2.94 | -72.09 | -5.93 | 60.69 |
| Hubtown Limited | Consolidated | 10.00 | 67.24 | 4.16 | 16.16 | 2.03 | 171.03 |
Suraj Estate Developers IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| Today | ₹25 | – | – |
| 20 December 2023 | ₹66 | – | – |
| 19 December 2023 | ₹64 | – | – |
| 18 December 2023 | ₹62 | – | – |
| 17 December 2023 | ₹62 | – | – |
| 16 December 2023 | ₹62 | – | – |
| 15 December 2023 | ₹60 | – | – |
Suraj Estate Developers IPO Detail Video:
Suraj Estate Developers IPO Subscription Status (Bidding Detail)
The Suraj Estate Developers IPO on December 20, 2023 at 7:30:00 PM was subscribed 16.57 times, with the retail category being subscribed 9.85 times, the NII (Non-Institutional Investor) category being subscribed 20.02 times, QIB (Qualified-Institutional Buyers) category being subscribed 25.74 times.
| Category | Subscription |
| QIB | 25.74x |
| NII | 20.02x |
| Retail | 9.85x |
| Total | 16.57x |
Suraj Estate Developers IPO Prospectus
| Suraj Estate Developers IPO DRHP | Download |
| Suraj Estate Developers IPO RHP | Download |
| Suraj Estate Developers IPO Anchor Investors Details PDF | Download |
Suraj Estate Developers IPO Rating
| Our Rating | 3.0/5.0 |
Suraj Estate Developers Company Contact Information
Suraj Estate Developers Limited
Registered and Corporate Office: 301, 3rd Floor, Aman Chambers, Veer Savarkar Marg, Opp. Bengal Chemicals, Prabhadevi, Mumbai 400025, Maharashtra, India.
Tel: +91 22 2437 7877
Website: www.surajestate.com
Contact Person: Shivil Kapoor, Company Secretary and Compliance Officer
E-mail: suraj@surajestate.com
Corporate Identity Number: U99999MH1986PLC040873
Our Promoter: Rajan Meenathakonil Thomas
Suraj Estate Developers IPO Registrar
Link Intime India Private Limited
Registered Office: C-101, 1st Floor, 247 Park, Lal Bhadur Shastri Marg
Vikhroli (West), Mumbai 400 083, Maharashtra, India
Telephone: +91 810 811 4949
Email: surajestate.ipo@linkintime.co.in
Investor grievance e-mail: surajestate.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI registration number: INR000004058
Suraj Estate Developers IPO Lead Manager
ITI Capital Limited
Registered Office: ITI House, 36, Dr. R K Shirodkar Road,
Parel, Mumbai 400 012, Maharashtra, India
Telephone: +91 22 6911 3300/ 6911 3371
E-mail: ipo.suraj@iticapital.in
Website: www.iticapital.in
Investor Grievance e-mail: investorgrievance@iticapital.in
Contact Person: Pallavi Shinde
SEBI Registration Number: INM000010924
Anand Rathi Advisors Limited
Registered Office: 11th Floor, Times Tower, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel, Mumbai, 400013
Maharashtra, India
Telephone: +91 22 4047 7120
E-mail: sedl.ipo@rathi.com
Website: www.anandrathiib.com
Investor Grievance e-mail: grievance.ecm@rathi.com
Contact Person: Pari Vaya/ Arpan Tandon
SEBI Registration Number: INM000010478
Suraj Estate Developers IPO FAQs
What is the lot size of Suraj Estate Developers IPO?
The total size of Suraj Estate Developers IPO is ₹400 crores and this is a complete fresh Issue.
When will Suraj Estate Developers IPO start?
Suraj Estate Developers IPO will open from 18 December 2023 and IPO will close on 20 December 2023.
What is the open date of Suraj Estate Developers IPO?
Suraj Estate Developers IPO will open date from 18 December 2023.
What is the last date ( close date ) of Suraj Estate Developers IPO?
Suraj Estate Developers IPO will close from 20 December 2023.
What is the price band of Suraj Estate Developers IPO?
Suraj Estate Developers IPO price band is ₹340 to ₹360. ( Upper Price Band: ₹360, Lower Price Band: ₹340 )
What is the minimum amount required to apply for Suraj Estate Developers IPO?
The minimum investment for retailers to apply for Suraj Estate Developers IPO is ₹14,760 and the maximum investment is ₹191,880.
What is going on gray market premium of Suraj Estate Developers IPO?
View gray market premium of Suraj Estate Developers IPO by Clicking Here
How much is the GMP of Suraj Estate Developers IPO?
Watch Suraj Estate Developers IPO GMP Today: Click Here
What is the allotment date of Suraj Estate Developers IPO?
The allotment date of Suraj Estate Developers IPO is 21 December 2023.
How to check allotment status in Suraj Estate Developers IPO?
To check the allotment status of Suraj Estate Developers IPO, first of all go to the registrar website by clicking here, select your bad Suraj Estate Developers IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Suraj Estate Developers IPO?
The listing date of Suraj Estate Developers IPO is 26 December 2023.
How much will be the listing gain in Suraj Estate Developers IPO?
View listing gain of Suraj Estate Developers IPO by Clicking Here
How much time Suraj Estate Developers IPO is subscribed?
Total 16.57 times subscribed in Suraj Estate Developers IPO out of which 9.85 times subscription was done in retail quota, 20.02 times subscription in NII quota and 25.74 times subscription in QIB quota.
How to apply for Suraj Estate Developers IPO from Upstox?
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