Suraj Estate Developers Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 5,555,555 (50%) | — | ₹20,000 Cr |
| NII (HNI) | — | 1,666,667 (15%) | — | ₹6,000 Cr |
| Retail | — | 3,888,889 (35%) | — | ₹14,000 Cr |
| Σ Total | — | 11,111,111 (100%) | — | ₹400,000 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 41 | ₹14,760 |
| Retail (Max) | 13 | 533 | ₹191,880 |
| S-HNI (Min) | 14 | 574 | ₹206,640 |
| B-HNI (Min) | 67 | 2,747 | ₹988,920 |
Financial Statements Amount in Crore
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Revenue | 103 | 308 | 274 |
| Profit After Tax | 15 | 32 | 27 |
| Net Worth | 86 | 71 | 39 |
| Total Assets | 995 | 943 | 864 |
| Reserves & Surplus | 70 | 55 | 23 |
| Total Borrowing | 599 | 593 | 638 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Repayment/Prepayment of the aggregate outstanding borrowings of the company and its subsidiaries, Accord Estates Private Limited and Iconic Property Developers Private Limited. –
- Acquisition of land or land development rights. –
- General corporate purposes. –
Company Overview
Incorporated in 1986, Suraj Estate Developers Limited is a real estate construction company. The company develops residential and commercial real estate in the South Central Mumbai region.
The company does not provide any in-house construction services and is 100% dependent on third-party contractors for the construction services of its Projects.
Suraj Estate Developers Limited has completed forty-two (42) projects in the South-Central Mumbai region.
In addition to the completed projects, the company has thirteen (13) ongoing projects and sixteen (16) upcoming projects.
The company's projects include Suraj Eleganza-II and ICICI Apartments, CCIL Bhavan (Phase-I up to 6th floor) and Tranquil Bay-I, Elizabeth Apartment and Mon Desir, St. Anthony Apartments, Lumiere and Tranquil Bay-II, Brahmsidhhi CHS, Jacob Apartments, Suraj Eleganza-I and Gloriosa Apartments and others.
As of September 30, 2023, the company, together with its subsidiaries, employed 126 permanent employees.
Suraj Estate has developed more than 10 lakh square feet of land in Mumbai. In the residential portfolio, Suraj Estate is present in the "Value Luxury' and "Luxury' segments in various price categories with unit values ranging from Rs. 10.00 million to Rs. 130.00 million.
In the commercial segment, Suraj Estate has built and sold corporate headquarters for institutional clients, namely Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India and Clearing Corporation of India Limited (Dadar).