Suraj Estate Developers Limited IPO is set to launch on 18 December, 2023. The company initiated its business operations in 1986. The company is involved in the business of real estate construction. The projects undertaken by the company include residential and commercial real estate in South Central Mumbai. The work of the company is totally carried out by outsourcing of the construction projects. It has 42 projects ongoing in the South Central Mumbai area. Alongside them it has 13 ongoing projects and 16 upcoming projects as well. It has 126 employees working for the company. The company has developed 10 lakh square feet of land in Mumbai.
Suraj Estate Developers Limited IPO DETAILS
Suraj Estate Developers Limited IPO is set to launch on 18 December, 2023. The subscription timeline extends till 20 December, 2023. The size for the IPO is 400 Crore Rs. Shares issued through fresh issue mode are worth Rs 400 Crore. No shares are issued through offer for sale mode. The lot size is 41 shares and the price is 340 Rs to 360 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 5 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Suraj Estate Developers Limited IPO
| IPO OPENING DATE | 18 December, 2023 |
| CLOSING DATE FOR IPO | 20 December, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 5 Rs. per share |
| IPO price band | 340 Rs. to 360 Rs. per share |
| LOT SIZE | 41 shares |
| MINIMUM ORDER QUANTITY | 41 shares |
| ISSUE SIZE | 400 Crore Rs. |
| OFFER FOR SALE | No shares are used through offer for sale mode |
| FRESH ISSUE | 400 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 26 December, 2023 |
Suraj Estate Developers Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 18 December, 2023 |
| CLOSING DATE FOR IPO | 20 December, 2023 |
| IPO ALLOTMENT DATE | 21 December, 2023 |
| REFUNDS | 22 December, 2023 |
| DEMAT A/C CREDITED ON | 22 December, 2023 |
| IPO LISTING DATE | 26 December, 2023 |
Suraj Estate Developers Limited IPO begins for subscription from 18 December, 2023. The IPO subscription would continue till 20 December, 2023. The allotment status for the shareholders who applied would come on 21 December, 2023. The refunds for the ones who did not get allotment would be initiated on 22 December, 2023. The DEMAT accounts of shareholders would be credited on 22 December, 2023. The listing of the company would be completed on 26 December, 2023.
Suraj Estate Developers Limited IPO : Lead Managers
The lead managers are :
- Anand Rathi Securities Limited
- ITI Capital Limited
The minimum lot size for the company is decided at 41 shares. This holding accounts to 14760 Rs.. The maximum lot size is decided at 533 shares. This amounts to 191880 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 41 shares | 14760 Rs. |
| Maximum | 533 shares | 191880 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- From the IPO money the company plans to repay all its borrowings.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 792 | 864 | 942 |
| Revenue | 244 | 273 | 308 |
| PAT | 6 | 26 | 32 |
Suraj Estate Developers Limited had an asset base of 792 Crore Rs in 2021 which increased to 864 Crore Rs in 2022 and 942 Crore Rs in 2023. The revenue of the firm was 244 Crore Rs in 2021 which increased to 273 Crore Rs in 2022 and 308 Crore Rs in 2023. The profit of the firm was 6 Crore Rs in 2021, 26 Crore Rs in 2022 and 32 Crore Rs in 2023.
PROS
- The projects undertaken by the company include residential and commercial real estate in South Central Mumbai.
- It has 42 projects ongoing in the South Central Mumbai area. Alongside them it has 13 ongoing projects and 16 upcoming projects as well.
- It has 126 employees working for the company.
- The company has developed 10 lakh square feet of land in Mumbai.
CONS
- The company works in a highly competitive segment.
- The work of the company is totally carried out by outsourcing of the construction projects.
Suraj Estate Developers Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Suraj Estate Developers Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
