Suraj Estate IPO

Suraj Estate Limited

₹13,940 /41 sharesMinimum Investment

Suraj Estate IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹360.00₹340.00-₹20.00 (5.56%)

Suraj Estate IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
18 Dec ‘23 - 20 Dec ‘23₹13,94041₹340 - ₹360
Issue SizeIPO Doc
400.00Cr
RHP PDF

Subscription rate

Qualified Institutional Buyers24.31x
Non-Institutional Investor18.9x
Retail Individual Investor9.29x
Total15.64x

About the company

Suraj Estate has been actively engaged in the real estate industry since 1986, developing properties in both the residential and commercial sectors within the South Central Mumbai region. Since its incorporation, Suraj Estate has completed 42 projects. Their primary focus lies on value luxury, luxury segments, and the commercial sector, with a recent expansion into residential real estate development in the Bandra sub-market. The company operates primarily in the South-Central region of Mumbai, encompassing Mahim, Matunga, Dadar, Prabhadevi, and Parel. Their expertise lies in the redevelopment of tenanted properties under Regulation 33 (7) of the Development Control and Promotion Regulations (DCPR) in the Mumbai region. Their offerings include the construction and development of 1 BHK and compact 2 BHK flats for buyers in premium locations, upscale 2 BHK, 3 BHK, and 4 BHK flats for ultra-high net worth and high net worth individuals in the South Central Mumbai region, and the construction and development of commercial offices on a built-to-suit model for select clientele and boutique offices.;
Founded in
1986
Managing director
Mr. Rajan Meenathakonil Thomas
Parent organisation
Suraj Estate Limited

Strength and risks

Strengths
Risks
Suraj Estate, a 37-year-old real estate company, has completed 42 projects, catering to both value luxury and luxury segments. The company has a significant presence in South Central Mumbai.
Suraj Estate has also ventured into the commercial sector, selling built-to-suit corporate headquarters to institutional clients and developing boutique office spaces on Tulsi Pipe Road, Mahim, to meet the demand for smaller independent offices.
Suraj Estate has completed around 3 to 4 projects on average every 3 years.
Suraj Estate caters to both the 'value luxury' and 'luxury' segments in the residential sector, with unit values ranging from Rs. 10 million to Rs. 130 million.
Suraj Estate has identified land reserves in Bandra (West) and Santacruz (East) for future development, with a total area of 10,359.77 square meters. The company plans to utilize the entire FSI potential, subject to marketability and regulatory clearances.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular340 - 360₹2 Lakh
High Networth Individual340 - 360₹2 - 5 Lakh
For Suraj Estate IPO, eligible investors can apply as Regular.
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