₹ 14760 / 41 shares

IPO Details

RHP/DRHP

Issue Date

18 Dec - 20 Dec'23

Investment/lot

₹ 14760

Price Range

340 - 360

Lot Size

41

IPO Size

₹ 400.00 Cr

IPO Listing Details

Listing On

26 Dec'23

Issue Price

360

Listed Price

₹ 340

Retail Gain/Listing Gain

-5.56%

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

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:

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.
  • 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.
  • 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.

Here are the key financials for Suraj Estate Developers Limited:

Particulars (in Rs. million)

Particulars (in Rs. million)

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How to apply for IPO through ASBA

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Kotak Securities

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Here are the steps to apply for Suraj Estate Developers Ltd IPO:

Step 1: Log in to your Kotak Securities 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 Ltd IPO FAQs

Suraj Estate Developers Ltd will list on 2023-12-26.

400.00 is the issue size of Suraj Estate Developers Ltd IPO.

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

The price band of Suraj Estate Developers Ltd IPO is ₹340 to ₹360.

You can read more about Suraj Estate Developers Ltd and its IPO from the company’s red herring prospectus (RHP) here.

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.

ITI Capital Limited and Anand Rathi Advisors Limited are the book runners for Suraj Estate Developers Ltd IPO.

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