Last updated on December 27, 2023
Suraj Estate IPO Description – Suraj Estate Developers stands out as a prominent real estate construction firm, emphasizing top-notch partnerships and customer satisfaction. With a rich history spanning more than three decades, the company has extensive expertise in the creation of real estate properties within the residential and commercial domains of South Central Mumbai. Suraj has successfully developed more than one million square feet of land in Mumbai.
Within its residential portfolio, Suraj Estate is present in both the ‘value luxury’ and ‘luxury’ segments, catering to various price points with unit values ranging from INR 10.00 million to INR 130.00 million. In the commercial domain, Suraj Estate has successfully developed and sold tailor-made corporate headquarters to institutional clients, including Saraswat Cooperative Bank Limited (located in Prabhadevi) and Clearing Corporation of India Limited (based in Dadar). The company has completed over 40 projects encompassing both residential and commercial sectors in Mumbai.
From 2016 to Q1 2023, Suraj Estate initiated the launch of 15 residential projects, with approximately 87% (13 projects) falling under the category of redevelopment. As of 31 March 2023, the company has successfully provided free-of-cost housing for over 1,011 tenants, adhering to the regulations outlined in Section 33(7) of the Development Control and Promotion Regulation, 2034 (DCP Regulations).
As of 31 May 2023, Suraj has completed 42 projects, covering a developed area exceeding 1,046,543.20 square feet in the South Central Mumbai region. In addition to these completed projects, the company currently has 13 ongoing projects, with a developable area totaling 20,34,434.40 square feet and a saleable RERA carpet area of 609,928 square feet. Furthermore, there are 16 upcoming projects with an estimated carpet area of 744,149 square feet.
Promoters of Suraj Estate Developers – Rajan Meenathakonil Thomas
Suraj Estate IPO Details
| Suraj Estate IPO Dates | 18 – 20 December 2023 |
| Suraj Estate IPO Price | INR 340 – 360 per share |
| Fresh issue | 11,111,111 shares (INR 377.78 – 400 crore) |
| Offer For Sale | NIL |
| Total IPO size | 11,111,111 shares (INR 377.78 – 400 crore) |
| Minimum bid (lot size) | 41 shares (INR 14,760) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
Suraj Estate Developer’s Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 |
| Revenue | 239.99 | 272.72 | 305.74 | 102.41 |
| Expenses | 234.95 | 237.76 | 264.68 | 83.44 |
| Net income | 6.28 | 26.50 | 32.06 | 14.53 |
| Margin (%) | 2.62 | 9.72 | 10.49 | 14.19 |
Suraj Estate Developers Offer News
- Suraj Estate RHP
- Suraj Estate DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Subscription Status
Suraj Estate Developers Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.98 | 8.35 | 10.10 |
| PE ratio | – | – | 33.66 – 35.64 |
| RONW (%) | 23.62 | 77.22 | 58.18 |
| NAV | 45.90 | 12.33 | 22.49 |
| ROCE (%) | 14.51 | 19.42 | 21.93 |
| EBITDA (%) | 36.10 | 48.30 | 49.39 |
| Debt/Equity | 20.60 | 16.29 | 8.31 |
Suraj Estate IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 23 December 2023 | 25 | – | 1,000 |
| 22 December 2023 | 28 | – | 1,000 |
| 21 December 2023 | 35 | – | – |
| 20 December 2023 | 65 | – | 2,300 |
| 19 December 2023 | 65 | – | 2,300 |
| 18 December 2023 | 65 | – | 2,300 |
| 16 December 2023 | 55 | – | 1,900 |
| 15 December 2023 | 60 | – | 2,100 |
| 14 December 2023 | 50 | – | 1,500 |
Suraj Estate IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 23,52,940 | 17,64,706 | 41,17,647 | 82,35,293 |
| 20 Dec 2023 | 24.31 | 18.88 | 9.18 | 15.58 |
| 19 Dec 2023 | 0.12 | 2.06 | 3.90 | 2.42 |
| 18 Dec 2023 | 0.12 | 0.28 | 1.24 | 0.72 |
Suraj Estate IPO Allotment Status
Suraj Estate IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Suraj Estate IPO Dates & Listing Performance
| Suraj Estate IPO Opening Date | 18 December 2023 |
| Suraj Estate IPO Closing Date | 20 December 2023 |
| Finalization of Basis of Allotment | 21 December 2023 |
| Initiation of refunds | 22 December 2023 |
| Transfer of shares to demat accounts | 22 December 2023 |
| Suraj Estate IPO Listing Date | 26 December 2023 |
| Opening Price on NSE | INR 340 per share (down 5.56%) |
| Closing Price on NSE | INR 334.5 per share (down 7.08%) |
Suraj Estate IPO Reviews – Subscribe or Avoid?
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Suraj Estate Developers Offer Lead Manager
ANAND RATHI ADVISORS LIMITED
11th Floor, Times Tower, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel, Mumbai, 400013 Maharashtra
Phone: +91 22 4047 7120
Email:Â [email protected]
Website:Â www.anandrathiib.com
Suraj Estate Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 022 4918 6060
Email:Â [email protected]
Website:Â www.linkintime.co.in
Suraj Estate Contact Details
SURAJ ESTATE DEVELOPERS LIMITED
301, 3rd Floor, Aman Chambers, Veer Savarkar Marg,
Opp. Bengal Chemicals, Prabhadevi, Mumbai 400025, Maharashtra
Phone:Â +91 22 2437 7877
Email:Â [email protected]
Website: www.surajestate.com
Suraj Estate Developers IPO FAQs
How many shares in the Suraj Estate IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply in Suraj Estate Public Offer?
The best way to apply in Suraj Estate public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Suraj Estate IPO GMP today?
Suraj Estate IPO GMP today is INR 25 per share.
What is Suraj Estate kostak rate today?
Suraj Estate kostak rate today is INR NA per application.
What is Suraj Estate Subject to the Sauda rate today?
Suraj Estate Subject to Sauda rate today is INR 1,000 per application.
