Suraj Estate Developers IPO Details
Issue Date
18 Dec - 20 Dec'23
Price Range
₹340 - ₹360
Lot Size
41
IPO Size
₹400.00 Cr
Suraj Estate Developers IPO Listing Details
Listing On
26 Dec'23
Issue Price
₹360
Listed Price
₹ 340
Retail Gain/Listing Gain
▼-5.56%
Schedule of Suraj Estate Developers IPO
Start date
18/12/2023
End date
20/12/2023
Allotment of bids
Refund Initiation
Listing on exchange
26/12/2023
Company Background
Suraj Estate Developers Limited has been involved in the real estate business since 1986 and develops real estate across the residential and commercial sectors in the South Central Mumbai region.
The company is focused primarily on value luxury, luxury segments and commercial segments, and is now venturing into residential real estate development in the Bandra sub-market.
Let's take a look at the competitive strengths and risk factors for Suraj Estate Developers Limited:
Competitive Strengths
Established brand with a long-standing presence
The company’s deep knowledge of the market, regulatory environment and long-standing presence in value luxury and the luxury segment has helped them identify opportunities in this market. It has also resulted in the company gaining a better understanding of emerging trends, and customer preferences, as well as earning significant brand recall. Further, the successful delivery of 42 completed projects has helped the company establish customer trust over the last 36 years. The brand’s reputation enables it to sell throughout the construction phase of its projects.
Diversified portfolio encompassing product offerings across various price points
The company has a diversified portfolio of residential developments, spread across price points, unit sizes and micro markets in South Central Mumbai, catering to a wide spectrum of economic and demographic segments, from value luxury to luxury residences. Their ability to cater to the needs of customers across income brackets through a range of differentiated product offerings has enabled them to successfully grow the business.
Marketing and sales strategies
The experienced marketing and sales team tracks market trends which enables them to position projects appropriately in terms of location and price points, and creates a cohesive marketing strategy designed to secure and build brand value and awareness. Some of these strategies include exclusive code names for each project, large public launches with a book-building approach, and the implementation of the concept of self-sustained communities.
Risk Factors
- The business is dependent on the performance of, and the conditions affecting, the real estate sub-markets in the South-Central Mumbai region.
- Inability to complete their ongoing projects and upcoming projects by their respective expected completion dates, or at all, could have a material adverse effect on the business.
- As of October 31, 2023, the company has a total of 216 unsold units in their ongoing projects. If it is not able to sell on time, then it may adversely affect the business.
Key Strategies
- Enhance their leading market position in the South Central Mumbai region by leveraging upcoming projects.
- Continue to focus on redevelopment projects through an asset-light model.
- Continue to expand land reserves in the South Central Mumbai region and opportunistically build a position in other sub-markets within the MMR region.
Suraj Estate Developers Key Financials
Here are the key financials for Suraj Estate Developers Limited:
How to apply for IPO through ASBA
Kotak Neo
•00m 59 s
How To Apply for Suraj Estate Developers Ltd IPO?
Here are the steps to apply for Suraj Estate Developers Ltd IPO:
Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Suraj Estate Developers IPO FAQs
The Suraj Estate Developers IPO opens for subscription from 18-12-2023 to 20-12-2023, with a total issue size of ₹400.00 Cr. The IPO price band is ₹340 to ₹360 per share with a lot size of 41. The company aims to list the shares on BSE & NSE on 26-12-2023.
The Suraj Estate Developers IPO will open for subscription on 18-12-2023 and will close on 20-12-2023 for investors.
The minimum lot size for the Suraj Estate Developers IPO is 41 equity shares, requiring a minimum investment of ₹14760 for retail investors applying in the IPO.
The price band of the Suraj Estate Developers IPO has been fixed at ₹340 to ₹360 per equity share.
You can apply for the Suraj Estate Developers IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Suraj Estate Developers IPO allotment will take place on [-].
You can check the Suraj Estate Developers IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Suraj Estate Developers shares will list on the stock exchanges on 26-12-2023.
You can find detailed information about the Suraj Estate Developers IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
The Suraj Estate Developers Limited IPO has an issue size of Rs. 400 crores. The IPO opens for subscription on 18th December 2023 and closes on 20th December 2023.
Link Intime India Private Limited is the registrar for this IPO.
You may read more about Suraj Estate Developers Limited and its IPO from the company’s red herring prospectus (RHP) here:
Suraj Estate Developers Ltd IPO will be allotted on 21st December 2023.
Suraj Estate Developers Ltd will list on 26th December 2023.
400 Crore is the issue size of Suraj Estate Developers Ltd IPO.
The minimum lot size is 41 shares and the investment required is ₹14,760.
The price band of Suraj Estate Developers Ltd IPO is ₹340 to ₹360.
ITI Capital Limited and Anand Rathi Advisors Limited are the book runners for Suraj Estate Developers Ltd IPO.
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