Suraj Estate Developers Limited-Logo

Suraj Estate Developers Limited

SURAJEST

340-360

per share
Bidding Dates
18-20 Dec
Min. Investment
₹13,940.00
Lot Size
41 shares
Issue Size
₹400 Cr
IPO Timeline
Bidding starts
18 Dec ‘23
Bidding ends
20 Dec ‘23
Allotment finalisation*
21 Dec ‘23
Refund initiation*
22 Dec ‘23
Demat transfer
22 Dec ‘23
Listing
26 Dec ‘23
* Refund is a 7-10 days process. If you don’t get refund then please contact your bank.

About  Suraj Estate Developers Limited

Incorporated 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:

Company Name Suraj Estate Developers Limited Limited   Company Type Private
Company Established On 1986   Suraj Estate Developers Limited IPO Opening Date 18th December 2023

Suraj Estate Developers Limited IPO Closing Date 20th December 2023

  Suraj Estate Developers Limited IPO Allotment Status 21st December 2023
Credit of Shares to the Demat Account 22nd December 2023

  Suraj Estate Developers Limited IPO Listing Date 26th December 2023

Suraj Estate Developers Limited IPO Face Value ₹5 per share   Suraj Estate Developers Limited IPO Lot Size 41 shares

Suraj Estate Developers Limited IPO Issue Size  Approx ₹400 crore   Suraj Estate Developers Limited IPO to be Listed on BSE, NSE
Suraj Estate Developers Limited IPO Price band  ₹ ₹340 to ₹360 per share      

Financial snapshot

Particulars FY21 FY22 FY23
Revenue 239 crore 272 crore 305 crore
Net Profit 6.2 crore 26.5 crore 32crore

 

 

Here’s a quick look at Suraj Estate Developers Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)

Strengths and opportunities

  1. Established brand with a long-standing presence of 36 years in the residential real estate market.
  2. The portfolio consists of multiple price points in the “value luxury” and “luxury” segments ranging from ₹1 crore to ₹13 crore.
  3. Strong expertise in tenant settlement in redevelopment projects as 41 of the total 42 completed projects were redevelopment projects. 
  4. An experienced marketing and sales team that tracks market trends, which allows it to position its projects appropriately in terms of location, price points, and marketing strategy.
  5. Maintained an EBITDA margin of 36%, 48% and 49% in FY21, FY22 and FY23 respectively.

Risks and threats

  1. Concentrated entirely in the south-central Mumbai region. 
  2. Requires compliance with the provisions of Regulation 33(7) of the Development Control and Promotion Regulation, 2034 and subject to extensive government regulations.
  3. As of 31 October 2023, the company has a total of 216 unsold units across its ongoing projects.
  4. Operates in a fragmented industry and faces competition from Macrotech Developers, Oberoi Realty, D B Realty and Hubtown Developers. Also, the business is subject to seasonality. 
  5. Has experienced negative cash flows from investing activities in the last three consecutive years. 
  6. Operates a capital-intensive business and has total financial indebtedness of ₹568 crore as of 30 September 2023. 

 

Suraj Estate Developers Limited IPO details

|Suraj Estate Developers Limited IPO date

According 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 Band

The 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: 

  1. Login to your Upstox account, using your six-digit PIN
  2. After successfully logging in, click on ‘Discover’
  3. On the Discover tab, you will find the ‘Invest in IPO’ section
  4. Under the Invest in IPO section, look for the ‘Suraj Estate Developers Limited IPO’ tab and click on it
  5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
  6. Confirm and click on ‘Pre-Apply’
  7. Accept the mandate on your UPI app

 

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: 

  1. Login to your Upstox account, using your six-digit PIN
  2. After successfully logging in, click on ‘Discover’
  3. On the Discover tab, you will find the ‘Invest in IPO’ section
  4. Under the Invest in IPO section, look for the ‘Suraj Estate Developers Limited IPO’ tab and click on it
  5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
  6. Confirm and click on ‘Apply’
  7. Accept the mandate on your UPI app

 

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:

  1. Login to your Upstox account, using your six-digit PIN
  2. After successfully logging in, click on ‘Discover’
  3. On the Discover page, you will find the ‘Invest in IPO’ section
  4. Under the Invest in IPO section, you will find the ‘View all’ option
  5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
  6. In the ‘IPO’ tab, click on ‘My applications’ 
  7. In ‘My applications’, under the History section, your Suraj Estate Developers Limited IPO allotment status will be mentioned

 

Check Allotment Status

 

Open a demat account with Upstox to apply for the Suraj Estate Developers Limited IPO

To 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:

  1. Click here to visit the demat account opening page on the Upstox website. 
  2. Enter your phone number and other essential details to begin opening a demat account.
  3. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed. 
  4. Complete the e-verification using the OTP sent to your registered mobile number. 

This is all it takes to open a demat account with Upstox. Easy and quick, right? 

 

Open Demat Account

 

Upstox – trading app to apply for the Suraj Estate Developers Limited IPO

Applying 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.

 

IPO analysis

Registrar information
Name
Link Intime India Private Ltd
Phone number
+91-22-4918 6270
Email ID
surajestate.ipo@linkintime.co.in

FAQs

How can you pre-apply for the Suraj Estate Developers IPO?

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.

When does pre-apply for the Suraj Estate Developers IPO open and how can you pay for it?

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.

How to apply for Suraj Estate Developers IPO? Or How to invest in the Suraj Estate Developers IPO?

You can apply on Upstox’s website and app, once the Suraj Estate Developers IPO opens for the subscription. 

When does the Suraj Estate Developers IPO open and close 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.

What’s the lot size and minimum investment needed for the Suraj Estate Developers IPO?

The Suraj Estate Developers lot size is 41 shares and the minimum investment required is ₹.14760

What is the price band for the Suraj Estate Developers IPO?

The Suraj Estate Developers IPO price band is ₹340 to ₹360 per share.

What’s the size of the Suraj Estate Developers IPO?

The size of the Suraj Estate Developers IPO is approx. ₹400 crore.

How many bids can I place for the Suraj Estate Developers IPO?

You can place up to three bids for an application. 

Can these bids be placed at different times during the IPO subscription period?

 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.

When will Suraj Estate Developers shares be credited to your demat account?

  If shares are allotted, then they will be credited to your demat account on 22nd December 2023.

Which exchanges will Suraj Estate Developers shares list on?

Suraj Estate Developers shares will be on NSE and BSE

When will Suraj Estate Developers shares list on the exchanges?

 Suraj Estate Developers shares’ listing date is 26th December 2023.

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