Suraj Estate IPO: GMP, subscription status, date, review, other details. Apply or not?
- Suraj Estate Developers IPO GMP: Shares of the real estate company are available at a premium of ₹70 in grey market today, say market observers
Suraj Estate IPO: The initial public offering (IPO) of Suraj Estate Developers Limited has opened today and it will remain open till 20th December 2023 i.e. till Wednesday this week. This means, Suraj Estate IPO date of subscription will remain open from Monday to Wednesday this week. The realty company has fixed Suraj Estate IPO price band at ₹340 to ₹360 per equity share. It aims to raise ₹400 crore from its initial offer via issuance of fresh shares.
Meanwhile, shares of Suraj Estate Developers Limited are availagble for trade in grey market. According to stock market observers, shares of Suraj Estate Developers Limited are available at a premium of ₹70 in grey market today.
Suraj Estate IPO subscription status
By 2:06 PM on day one of bidding, the public issue has been subscribed 0.36 times whereas its retail portion has been sub scribed 0.66 times. The NII portion of the public offer has been subscribed 0.13 times.
Important Suraj Estate Developers IPO details
Here we list out important details of of Suraj Estate IPO:
1] Suraj Estate IPO GMP: Shares of the company are available at a premium of ₹70 in grey market today, which is ₹14 higher from its weekened GMP of ₹56, say market observers.
2] Suraj Estate IPO price: The real estate company has fixed Suraj Estate IPO price band at ₹340 to ₹360 per equity share.
3] Suraj Estate Developers IPO date: The public issue has opened today and it will remain open till 20th December 2023.
4] Suraj Estate IPO size: The company aims to raise ₹400 crore from this public issue via issuance of fresh shares.
5] Suraj Estate IPO lot size: A bidder will be able to apply in lots and one lot of the IPO will comprise 41 company shares.
6] Suraj Estate IPO allotment date: In the wake of T+3 listing rule, most likely date for share allocation is 21st December 2023.
7] Suraj Estate IPO registrar: Link Intime India Private Limited has been appointed as official registrar of the public offer.
8] Suraj Estate IPO listing: The public issue is proposed for listing on BSE and NSE.
9] Suraj Estate IPO listing date: The likely date for share listing is 26th December 2023.
Suraj Estate IPO: Apply or not?
10] Suraj Estate IPO review: Giving 'subscribe' tag to the mainboard IPO, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "Financials of the company are in sound position and the real estate company is sitting on assets that can be used to counter any financial crisis, which is not visible on its balance sheet. As primary market is over crowded, one must apply for this IPO. But, my suggestion is to hold the stock for medium to long term as it is expected to maintain uptrend even after positive listing."
Kejriwal said that company has compared itself with seven competitors and out of these seven peers, it is available at cheaper rate than five out of the seven peers.
Advising investors to apply for long term, Prathamesh Masdekar, Research Analyst at StoxBox said, "The recently launched IPO, Suraj Estate Developers, is among the prominent residential real estate developers, focused primarily on constructing and developing residential and commercial projects in and around the South-Central Mumbai market. Since most of the land parcels in the South-Central Mumbai market are re-development projects, the company’s core competence lies in tenant settlement, which is a key element for unlocking value on such land parcels," adding, "The company also has a track record of sustained consolidated revenue from operation, growing at a CAGR of 12.9% during the FY21-23 period. Their strong presence in the South-Central Mumbai region has generated significant brand recall in sub-markets and substantial sales referrals from existing customers. We, therefore, advise investors to subscribe to the issue from a long-term perspective."
Swastika Investmart has also give 'subscribe' tag to this public issue whereas Axis Capital has not rated Suraj Estate IPO.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.dcription sta10:27 AM on day o
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