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| IPO Listing At | BSE, NSE |
| IPO Issue Type | Book Build Issue |
| Issue Size | ₹400.00 Cr |
| Fresh Issue | ₹400.00 Cr |
| Face Value | ₹5 Per Equity Share |
| Price Band | ₹340.00-360.00 per share |
| Discount | Retail: 0.00 |
| BSE Code | 544054 |
| NSE Code | SURAJEST |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Managers | Anand Rathi Advisors Ltd. |
| Allotment Status | |
| DRHP | |
| RHP | |
| Final Prospectus | |
| Anchor List |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 41 shares and in multiples thereof
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).
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/Prepayment of the aggregate outstanding borrowings of the Company and the Subsidiaries, Accord Estates Private Limited, Iconic Property Developers Private Limited and Skyline Realty Private Limited | 285.00 |
| 2 | Acquisition of land or land development rights | 35.00 |
| 3 | General corporate purposes | 44.73 |
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 994.73 | 942.58 | 864.00 | 792.00 |
| Total Income | 102.81 | 307.89 | 273.91 | 244.00 |
| Profit After Tax | 14.53 | 32.06 | 26.50 | 6.28 |
| NET Worth | 86.11 | 71.39 | 39.16 | 29.15 |
| Reserves and Surplus | 70.29 | 55.48 | 23.32 | 22.94 |
| Total Borrowing | 598.50 | 593.09 | 638.16 | 600.48 |
| Amount in ₹ Crore | ||||
| KPI | |
|---|---|
| ROE | 58.18% |
| ROCE | 21.93% |
| Debt / Equity | 8.31% |
| RoNW | 58.18% |
| PAT Margin | 10.49% |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 10.10 | |
| P/E (x) | 35.64 | 49.81 |
| Promoter Holding | 100% | 74.95% |
| Market Cap | ₹1597.00 Cr. | |
