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Suraj Estate Developers IPO

Suraj Estate Developers IPO

Realty firm Suraj Estate Developers is to raise Rs. 500 crores through fresh issuance of equity shares.Centrum Capital and Anand Rathi Advisors are th...

  • Status: Closed
  • RHP:
  • ₹ 13,940 / 41 shares

    Minimum Investment

IPO Details

  • Open Date

    18 Dec 2023

  • Close Date

    20 Dec 2023

  • IPO Price Range

    ₹ 340 to ₹ 360

  • IPO Size

    ₹ 400 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    26 Dec 2023

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IPO Timeline

Suraj Estate Developers IPO Subscription Status

Last Updated: 22 December 2023 10:45 AM by rahul_raskar

Suraj Estate Developers Limited IPO is all set to open from 18th December to 20th December 2023. The company is in the business of real estate construction. The IPO includes a fresh issue of 11,111,111 shares worth ₹400 cr. The share allotment date is 21st December, and the IPO will be listed on 26th December on the stock exchanges. The price band is ₹340 to ₹360 per share and the lot size is 41 shares.    

ITI Capital Limited and Anand Rathi Advisors Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar. 

Objective of Suraj Estate Developers IPO:

●    To acquire land or land development rights.
●    To repay/prepay the borrowings obtained by the company and its two subsidiaries Accord Estates Private Limited and Iconic Property Developers Private Limited. 
●    General corporate purpose.   

Suraj Estate Developers IPO Video:

 

Established in 1986, Suraj Estate Developers Limited is in the business of real estate construction for residential and commercial properties in the South Central Mumbai region. The company’s residential units are located in Mahim, Dadar, Prabhadevi and Parel. In this region, redevelopment projects are the core offering. 

Value luxury, luxury, and commercial segments are the main focus areas of Suraj Estate with the average ticket size ranging between unit values ranging from ₹1 cr to ₹13 cr. The company is also planning to enter the Bandra sub-market in the coming years. 

Since its inception, Suraj Estate Developers has finished 42 projects with a developed area of more than 1,046,543.20 square in South-Central Mumbai. There are 13 ongoing projects at present and 16 new projects in the pipeline. 

Peer Comparison
●    Oberoi Realty Limited
●    Sunteck Realty Limited
●    Keystone Realtors Limited
●    Shriram Properties Limited 
●    Mahindra Lifespace Developers Limited
●    D B Realty Limited
●    Hubtown Limited

 

For More Information:
Suraj Estate Developers IPO GMP
Webstory on Suraj Estate Developers IPO
Know About Suraj Estate Developers IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 305.74 272.71 239.98
EBITDA 151.00 131.73 86.62
PAT 32.06 26.50 6.27
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 942.58 863.99 792.00
Share Capital 15.87 15.87 6.35
Total Borrowings 871.06 824.61 762.63
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 188.52 69.75 -14.93
Net cash from / (used in) investing activities -27.12 -21.06 -12.26
Net cash flow from / (used in) financing activities -155.72 -44.68 26.95
Net increase (decrease) in cash and cash equivalents 5.68 4.01 -0.24

 


Strengths

1.    The company is an established brand with a long-standing presence in Value Luxury Segment and Luxury Segment in the residential real estate market of South Central Mumbai region.
2.    Diversified portfolio including product offerings across various price points in value luxury and luxury segments.
3.    The company also has strong expertise in tenant settlement in redevelopment projects.
4.    It has an experienced marketing and sales team.
5.    Experienced promoters and management team.
 

Risks

1.    The business is dependent on the real estate market in the South-Central Mumbai region. 
2.    A higher number of unsold units in its ongoing projects. 
3.    The business is subject to seasonality.
4.    Operates in a competitive and highly fragmented industry.
5.    Negative cash flow. 
6.    Higher working capital requirements. 
7.    Its redevelopment projects have long gestation periods and any delays and cost overruns can impact the business. 
 

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FAQs

The minimum lot size of Suraj Estate Developer IPO is 41 shares and the investment required is ₹13,940.

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

The Suraj Estate Developers IPO is open from 18th December to 20th December 2023.

The size of Suraj Estate Developer IPO is around ₹400 cr. 

The share allotment date of Suraj Estate Developer IPO is 21st of December 2023.

The Suraj Estate Developers IPO will be listed on 26th of December 2023.

ITI Capital Limited and Anand Rathi Advisors Limited are the book-running lead managers for Suraj Estate Developers IPO.

The proceeds will be used by the company for:

●    To acquire land or land development rights.
●    To repay/prepay the borrowings obtained by the company and its two subsidiaries Accord Estates Private Limited and Iconic Property Developers Private Limited. 
●    General corporate purpose.  
 

To apply for Suraj Estate Developers IPO, follow the steps given below
●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots & the price at which you wish to apply for the Suraj Estate Developers IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.