Suraj Estate Developers IPO Subscription Status (Live Data)

The Suraj Estate Developers IPO started on December 18, 2023, and ended on December 20, 2023. Shares were allocated on December 21, 2023, and refund processes began on December 22, 2023. On December 22, 2023, the shares were credited to investors demat accounts. Suraj Estate Developers was officially listed on the stock exchange on December 26, 2023.

During the IPO, Suraj Estate Developers offered shares at a price range of ₹340 to ₹360 per share, and the lot size was 41 shares. The total issue size was ₹400 crores, with ₹400 crores from new shares. The IPO was listed on both the NSE and BSE.

Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.

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Suraj Estate Developers IPO Subscription Status

The Suraj Estate Developers IPO on December 20, 2023 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, the QIB (Qualified-Institutional Buyers) category being subscribed 25.74 times.

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About Suraj Estate Developers Limited

Established in 1986, Suraj Estate Developers Limited is a company that builds homes and offices, putting a strong emphasis on quality collaborations and ensuring client satisfaction.

With more than 35 years of experience, the company has been actively involved in real estate development in the South Central Mumbai region. Suraj has successfully developed over 10 lakh square feet of land in Mumbai. In the residential sector, Suraj offers homes in both the “value luxury” and “luxury” segments, catering to various budgets with prices ranging from ₹10.00 million to ₹130.00 million. On the commercial front, Suraj has completed and sold custom-built corporate headquarters to prestigious clients such as Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar). Overall, the company has executed more than 40 projects, encompassing both residential and commercial developments in Mumbai.

From 2016 to the first quarter of 2023, Suraj has introduced 15 residential projects, with 87% of them involving the redevelopment of 178 projects. By March 31, 2023, the company had provided free housing to over 1,011 tenants under the guidelines of Regulation 33(7) of the Development Control and Promotion Regulation, 2034 (DCP Regulations). As of May 31, 2023, Suraj has successfully completed 42 projects, covering a developed area exceeding 1,046,543.20 square feet in South Central Mumbai. In addition to these completed projects, there are 11 ongoing projects, boasting a developable area of 1,714,962.03 square feet and a saleable RERA carpet area of 497,774 square feet. Furthermore, there are 21 upcoming projects with an estimated carpet area of 843,192 square feet.

Suraj Estate Developers received the prestigious title of “Best Developer of the Year – Residential” at the CNN-News18 Real Estate & Business Excellence Awards in Mumbai on February 2, 2020.

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