What you must know about Suraj Estate IPO?
by 5paisa Research Team
08 Dec 2023
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 26-Dec-23
- IPO Price Range ₹340
- Listing Price ₹343.8
- Listing Change -4.5 %
- Last Traded Price ₹594.95
- Current Change 65.3 %
Suraj Estate IPO Details
- Open Date 18-Dec-23
- Close Date 20-Dec-23
- Lot Size 41
- IPO Size ₹ 400 Cr
- IPO Price Range ₹ 340 to ₹ 360
- Min Investment ₹ 13940
- Listing Exchange BSE, NSE
- Basis of Allotment 21-Dec-23
- Refunds 22-Dec-23
- Credit to Demat Account 22-Dec-23
- Listing Date 26-Dec-23
Suraj Estate Developers IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 18-Dec-23 | 0.13 | 0.30 | 1.37 | 0.78 |
| 19-Dec-23 | 0.13 | 2.18 | 4.17 | 2.59 |
| 20-Dec-23 | 25.74 | 20.02 | 9.84 | 16.57 |
Suraj Estate IPO Synopsis
Suraj Estate Developers Limited IPO is all set to open from 18th December to 20th December 2023. The company is in the business of real estate construction. The IPO includes a fresh issue of 11,111,111 shares worth ₹400 cr. The share allotment date is 21st December, and the IPO will be listed on 26th December on the stock exchanges. The price band is ₹340 to ₹360 per share and the lot size is 41 shares.
ITI Capital Limited and Anand Rathi Advisors Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objective of Suraj Estate Developers IPO:
● To acquire land or land development rights.
● To repay/prepay the borrowings obtained by the company and its two subsidiaries Accord Estates Private Limited and Iconic Property Developers Private Limited.
● General corporate purpose.
Suraj Estate Developers IPO Video:
About Suraj Estate Developers
Established in 1986, Suraj Estate Developers Limited is in the business of real estate construction for residential and commercial properties in the South Central Mumbai region. The company’s residential units are located in Mahim, Dadar, Prabhadevi and Parel. In this region, redevelopment projects are the core offering.
Value luxury, luxury, and commercial segments are the main focus areas of Suraj Estate with the average ticket size ranging between unit values ranging from ₹1 cr to ₹13 cr. The company is also planning to enter the Bandra sub-market in the coming years.
Since its inception, Suraj Estate Developers has finished 42 projects with a developed area of more than 1,046,543.20 square in South-Central Mumbai. There are 13 ongoing projects at present and 16 new projects in the pipeline.
Peer Comparison
● Oberoi Realty Limited
● Sunteck Realty Limited
● Keystone Realtors Limited
● Shriram Properties Limited
● Mahindra Lifespace Developers Limited
● D B Realty Limited
● Hubtown Limited
For More Information:
Suraj Estate Developers IPO GMP
Webstory on Suraj Estate Developers IPO
Know About Suraj Estate Developers IPO
Suraj Estate Developers Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue | 305.74 | 272.71 | 239.98 |
| EBITDA | 151.00 | 131.73 | 86.62 |
| PAT | 32.06 | 26.50 | 6.27 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 942.58 | 863.99 | 792.00 |
| Share Capital | 15.87 | 15.87 | 6.35 |
| Total Borrowings | 871.06 | 824.61 | 762.63 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 188.52 | 69.75 | -14.93 |
| Net cash from / (used in) investing activities | -27.12 | -21.06 | -12.26 |
| Net cash flow from / (used in) financing activities | -155.72 | -44.68 | 26.95 |
| Net increase (decrease) in cash and cash equivalents | 5.68 | 4.01 | -0.24 |
Suraj Estate IPO Key Points
-
Strengths
1. The company is an 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.
2. Diversified portfolio including product offerings across various price points in value luxury and luxury segments.
3. The company also has strong expertise in tenant settlement in redevelopment projects.
4. It has an experienced marketing and sales team.
5. Experienced promoters and management team.
-
Risks
1. The business is dependent on the real estate market in the South-Central Mumbai region.
2. A higher number of unsold units in its ongoing projects.
3. The business is subject to seasonality.
4. Operates in a competitive and highly fragmented industry.
5. Negative cash flow.
6. Higher working capital requirements.
7. Its redevelopment projects have long gestation periods and any delays and cost overruns can impact the business.
Suraj Estate
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Suraj Estate IPO FAQs
What is the minimum lot size and investment required for the Suraj Estate Developer IPO?
The minimum lot size of Suraj Estate Developer IPO is 41 shares and the investment required is ₹13,940.
What is the price band of Suraj Estate Developer IPO?
The price band of Suraj Estate Developer IPO is ₹340 to ₹360 per share.
When does the Suraj Estate Developer IPO opens and closes?
The Suraj Estate Developers IPO is open from 18th December to 20th December 2023.
What is the size of Suraj Estate Developer IPO?
The size of Suraj Estate Developer IPO is around ₹400 cr.
What is the allotment date of the Suraj Estate Developers IPO?
The share allotment date of Suraj Estate Developer IPO is 21st of December 2023.
What is the Suraj Estate Developers IPO listing date?
The Suraj Estate Developers IPO will be listed on 26th of December 2023.
Who are the book runners for the Suraj Estate Developers IPO?
ITI Capital Limited and Anand Rathi Advisors Limited are the book-running lead managers for Suraj Estate Developers IPO.
What is the objective of Suraj Estate Developers IPO?
The proceeds will be used by the company for:
● To acquire land or land development rights.
● To repay/prepay the borrowings obtained by the company and its two subsidiaries Accord Estates Private Limited and Iconic Property Developers Private Limited.
● General corporate purpose.
How to apply for the Suraj Estate Developers IPO?
To apply for Suraj Estate Developers IPO, follow the steps given below
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots & the price at which you wish to apply for the Suraj Estate Developers IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
● You will receive a mandate notification to block funds in your UPI app.
Contact Details of Suraj Estate Developers IPO
Contact Information
Suraj Estate Developers Limited
301, 3rd Floor, Aman Chambers,
Veer Savarkar Marg, Opp. Bengal Chemicals,
Prabhadevi, Mumbai - 400025
Phone: +91 22 2437 7877
Email: suraj@surajestate.com
Website: https://surajestate.com/
Suraj Estate Developers IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: surajestate.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Suraj Estate Developers IPO Lead Manager
Anand Rathi Securities Limited
LTI Capital Ltd
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