About Suraj Estate Developers LimitedIncorporated in 1986, Suraj Estate Developers is one of Mumbai’s leading real estate developers. The company develops real estate across the residential and commercial sectors in Mumbai’s south-central region. It focuses on the value luxury, luxury and commercial segments in the Mahim, Matunga, Dadar, Prabhadevi and Parel areas of south-central Mumbai. Its expertise lies in the redevelopment of tenanted properties. It does so by identifying cessed/ non cessed properties with existing tenants and entering into a development agreement or an outright purchase with the landlords of such properties. Since inception, the company has completed 42 projects, with a developed area of over one million square feet. Besides this, the company has 13 ongoing projects and 16 upcoming projects. Most of the company’s projects are executed on land owned by the company or through development agreements with landowners. Besides the south-central region, the company has also ventured into the residential real estate market of Bandra and Santacruz region. As of 31 October 2023, it has land reserves of 10,359.77 square metres at Bandra (West) and Santacruz (East), which the company intends to develop. In the commercial segment, the company has constructed and sold corporate offices to institutional clientele such as Saraswat Co-operative Bank Limited (Prabhadevi) and Clearing Corporation of India Limited (Dadar). It is also planning to develop a 16-storey commercial building situated in Tulsi Pipe Road, Mahim. Between FY21 and FY23, it saw a CAGR rise of over 8% in its revenue from operations and 72% in its profit. Moreover, rising Indian household income and increasing urbanisation will be key driving factors behind the Indian real estate sector. As per reports, over 100 million households are estimated to be added to the upper mid-income and lower mid-income brackets combined by 2030. All of this could be beneficial for the company. And now, Suraj Estate Developers Limited is coming out with its initial public offer (IPO). The entire IPO will be a fresh issue and the money raised will be utilised for the repayment or prepayment of borrowings, acquisition of land and general corporate purposes. Its shares will be listed on the NSE and the BSE. Here are key details about the Suraj Estate Developers Limited IPO:
Financial snapshot
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Here’s a quick look at Suraj Estate Developers Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)Strengths and opportunities
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Suraj Estate Developers Limited IPO details|Suraj Estate Developers Limited IPO dateAccording to the offer document filed by the company with the SEBI, the Suraj Estate Developers IPO’s opening date – in other words, the Suraj Estate Developers IPO launch date – will be 18th December 2023. The Suraj Estate Developers IPO closing date is 20th December 2023. After this, investors will be updated about the allotment status on 21st December 2023. Investors, who have been allotted shares, can expect them to be credited to their demat account on 22nd December 2023. The Suraj Estate Developers IPO listing date is 26th December 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. |Suraj Estate Developers Limited IPO Price BandThe entire IPO is a fresh issue. The Suraj Estate Developers IPO price band has been set between ₹340 to ₹360 per share. Interested investors can choose a price within this band to apply for the IPO. The Suraj Estate Developers IPO listing price will be determined on 26th December 2023. The listing price is the price at which a company’s shares debut on the stock exchanges. |Suraj Estate Developers Limited IPO Lot size The Suraj Estate Developers IPO details have been declared. The Suraj Estate Developers IPO lot size is set at 41 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Suraj Estate Developers IPO issue size is approx ₹400 crore. |
How to pre-apply for the Suraj Estate Developers Limited IPO?You can pre-apply for the Suraj Estate Developers Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO:
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How to apply for the Suraj Estate Developers Limited IPO?If you are interested in this investment opportunity but unsure how to apply for the Suraj Estate Developers Limited IPO, here we are listing out the steps for you. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Suraj Estate Developers Limited IPO on Upstox:
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How to check the Suraj Estate Developers LimitedIPO allotment status?When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. Here’s a step-by-step guide on how to check the Suraj Estate Developers Limited IPO allotment status:
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Open a demat account with Upstox to apply for the Suraj Estate Developers Limited IPOTo apply for the Suraj Estate Developers Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app. Here is a step-by-step guide on how to open a demat account with Upstox:
This is all it takes to open a demat account with Upstox. Easy and quick, right?
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Upstox – trading app to apply for the Suraj Estate Developers Limited IPOApplying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India. You can apply for the Suraj Estate Developers Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero. In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy. |
Pre-applying for the Suraj Estate Developers IPO means applying for this public issue before it goes live. Click here to pre-apply for the Suraj Estate Developers IPO on Upstox.
You can pre-apply for the Suraj Estate Developers IPO from 15 December 2023. Once the IPO goes live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.
You can apply on Upstox’s website and app, once the Suraj Estate Developers IPO opens for the subscription.
The Suraj Estate Developers IPO launch date is 18th December 2023. The Suraj Estate Developers IPO will be open for subscription till 20th December 2023.
The Suraj Estate Developers lot size is 41 shares and the minimum investment required is ₹.14760
The Suraj Estate Developers IPO price band is ₹340 to ₹360 per share.
The size of the Suraj Estate Developers IPO is approx. ₹400 crore.
You can place up to three bids for an application.
No, the bids have to be placed in one go. If you want to add an additional bid, then you would have to delete your application and re-apply.
If shares are allotted, then they will be credited to your demat account on 22nd December 2023.
Suraj Estate Developers shares will be on NSE and BSE
Suraj Estate Developers shares’ listing date is 26th December 2023.