Suraj Estate Developer IPO Details 2023, Company Overview, Important Dates

Suraj Estate Developer is set to launch its Initial Public Offering (IPO) in 2023, providing investors with an opportunity to own a stake in the company. The IPO details are as follows:

Company Overview

Suraj Estate Developer is a renowned real estate development company with a strong presence in the market. The company has a successful track record of delivering high-quality residential and commercial projects.

Suraj Estate Developers is a leading developer in South Central Mumbai, with residential properties in Mahim, Dadar, Prabhadevi, and Parel.

The company builds luxury properties in its residential portfolio, with values varying from Rs 10 million to Rs 130 million. As for the commercial segment, it has constructed corporate headquarters for companies such as Saraswat Co-operative Bank Limited, NSE, Union Bank, and Clearing Corporation of India (Dadar).

THE ISSUE:

The company is offering 77,77,777 fresh equity shares.

IPO Issue Size – ₹400.00 Cr

Minimum Investment – ₹14760

QIB – 29% (22,22,222 Shares)

NII (HNI) – 21% (16,66,666 Shares)

Retail – 50% (38,88,889 Shares)

Important Dates

Investors and prospective buyers should keep an eye out for the following important dates related to the Suraj Estate Developer IPO:

PURPOSE FOR THE IPO:

The funds raised from the Issue, which is the gross proceeds of the Issue after deducting the issue expenses (Net Proceeds), will be used for the following purposes:

• To repay or prepay the outstanding loans of their Company and Subsidiaries, i.e., Accord Estates Private Limited and Iconic Property Developers Private Limited.
• To acquire land or land development rights.
• For general corporate purposes.

Financial Information

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