Suraj Estate Developers IPO Allotment Status, SME IPO GMP Today, Check Online

Suraj-Estate-Developers-IPO-Review

Suraj Estate Developers IPO Allotment Status : Mumbai-based Suraj Estate Developers is set to launch its initial public offering (IPO) on December 18, aiming to raise Rs 400 crore. This announcement follows closely on the heels of Doms Industries, marking the second IPO opening this month.

The anchor book for Suraj Estate Developers’ IPO is scheduled to open on December 15, with the offering period closing on December 20. if you want daily updates of Stock market News or IPO GMP Today Details the Follow us on Whatsapp Channel

Suraj Estate Developers IPO Dates

IPO Open DateMonday, December 18, 2023
IPO Close DateWednesday, December 20, 2023
Basis of AllotmentThursday, December 21, 2023
Initiation of RefundsFriday, December 22, 2023
Credit of Shares to DematFriday, December 22, 2023
Listing DateTuesday, December 26, 2023

Suraj Estate Developers IPO Company Fundamentals

Period Ended31 Mar 202131 Mar 202231 Mar 202330 Jun 2023
Assets792.00864.00942.58994.73
Revenue244.00273.91307.89102.81
Profit After Tax6.2826.532.0614.53
Net Worth29.1539.1671.3986.11
Reserves and Surplus22.9423.3255.4870.29
Total Borrowing600.48638.16593.09598.50

The public offering consists solely of a fresh issue of shares valued at Rs 400 crore, with no offer-for-sale component. The company’s primary objective is to utilize the net proceeds for strategic purposes.

The allocation plan for the funds includes repaying debts totaling Rs 285 crore, with an additional Rs 35 crore earmarked for the acquisition of land or land development rights in the Mumbai Metropolitan Region. The remaining funds from the fresh issue will be allocated for general corporate purposes.

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As of September 2023, Suraj Estate Developers reported a total outstanding consolidated borrowing of Rs 568.83 crore. The company has outlined plans to utilize the entire allocation for land acquisition or development rights during the fiscal years 2024 and 2025.

Suraj Estate Developers provided insight into its strategic focus, stating, “We are evaluating land and land development opportunities in the Bandra (west) region to cater to the demand in the residential luxury segment, offering 2, 3, and 4 BHK apartments.”

The company further added, “In the Dadar (west) and Mahim (west) micro markets of South Central Mumbai, we are evaluating land and land development opportunities to cater to the demand in the residential value luxury segment, offering 1 and 2 BHK apartments.

Established in 1986, Suraj Estate Developers boasts a successful track record, having completed 42 projects encompassing a developed area of over 1.05 million square feet in the South-Central Mumbai region.

How to Check Suraj Estate Developers IPO Allotment Status

Step 1 : FindSuraj Estate Developers IPO Registrar, for Suraj Estate Developers IPO Registrar is Kfintech
Step 2 : Go to Kfintech Website (https://linkintime.co.in/mipo/ipoallotment.html)
Step 3 : Select Suraj Estate Developers IPO
Step 4 : then Select Pan No (It is Best Fast Result) and enter Pan Card Number
Step 5 : Enter Captcha then Submit

Suraj Estate Developers IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: surajestate.ipo@linkintime.co.in
Websitehttps://linkintime.co.in/mipo/ipoallotment.html

Currently, the company manages 13 ongoing projects, with a developable area of 2.03 million square feet and a saleable carpet area of 0.6 million square feet. Additionally, there are 16 upcoming projects in the pipeline, with an estimated carpet area of 0.7 million square feet.

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