Suraj Estate Developers IPO: An Overview and Corporate Insight
Founded in 1986, Suraj Estate Developers Limited is a prominent real estate construction company in South Central Mumbai. With a portfolio of 42 completed properties and 13 ongoing projects, the company relies on third-party contractors for its residential and commercial real estate endeavors.
Grey Market Premium Analysis and IPO Timelines – Suraj Estate Developers IPO
The Grey Market Price (GMP) for Suraj Estate Developers IPO has been a subject of interest, starting at ₹55 per share and holding steady at ₹55 on the second day. Market conditions and subscription levels influence GMP, offering insights into investor sentiment. Explore the GMP trends in our interactive table:
| Date | GMP |
|---|---|
| 18-Dec-2023 | ₹70 |
| 17-Dec-2023 | ₹70 |
| 16-Dec-2023 | ₹66 |
In the lead-up to the Suraj Estate Developers Ltd IPO, the Grey Market Price (GMP) has taken center stage, trading 4-5 days prior to the IPO and persisting until the listing date. GMP serves as a vital indicator, influenced by market conditions and the subscription extent, offering a glimpse into the stock’s post-listing trajectory.
Two crucial factors sway the GMP narrative – market conditions, particularly liquidity, and the IPO’s subscription levels, reflective of investor interest. GMP, while not an official price, serves as a reliable informal benchmark, offering insights into demand and supply dynamics.
A snapshot of the recent GMP trend for Suraj Estate Developers IPO reveals an opening at ₹55 per share, maintaining this level even on the second day for which data is available. With the IPO price announcement fresh, the actual GMP may take time to align with the stock’s underlying value. Monitoring subscription numbers post the IPO opening on December 18, 2023, becomes pivotal, considering historical data showing oversubscribed stocks often witness positive GMP shifts.
Considering the upper price band of ₹360, the GMP indicator on December 14, 2023, hints at a likely listing price around ₹415 per share. Dynamic and subject to change, tracking subscription updates becomes crucial to navigating the GMP course.
The GMP of ₹55 on the upper end of the IPO price indicates a listing premium of a healthy 15.28% for Suraj Estate Developers Ltd. These approximations emphasize the need for a safety margin. Close observation of the GMP trend offers valuable insights into the listing status, urging investors to focus on the time series trend rather than absolute GMP numbers. Stay tuned for real-time updates as the IPO journey unfolds.
Pricing Details and Lot Size – Suraj Estate Developers IPO
The IPO, featuring a price band of ₹340 to ₹360 per share, comprises a fresh issue of 1,11,11,111 shares, totaling ₹400.00 crores at the upper price band. With no Offer for Sale (OFS) component, the fresh issue doubles as the overall IPO size.
Book-Running Lead Managers and Registrar
Ensuring a smooth IPO process, Suraj Estate Developers has enlisted Book-Running Lead Managers, including [Insert Names], and Kfin Technologies Limited as the registrar.
Offer for Sale and IPO Size Breakdown
The funds from the fresh issue will primarily serve to repay/prepay the company’s and its subsidiaries’ borrowings. A portion will support land acquisition and development rights, with the rest allocated to general corporate purposes.
IPO Structure and Reservation Criteria
With no OFS component, the IPO’s net offer is structured to cater to various investor categories, with 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for Retail Investors.
IPO Timelines at a Glance – Suraj Estate Developers IPO
| Event | Date |
|---|---|
| IPO Open Date | Monday, December 18, 2023 |
| IPO Close Date | Wednesday, December 20, 2023 |
| Basis of Allotment | Thursday, December 21, 2023 |
| Refund Initiation | Friday, December 22, 2023 |
| Shares Credited to Demat | Friday, December 22, 2023 |
| Listing Date | Tuesday, December 26, 2023 |
| UPI Mandate Confirmation Cut-off | 5 PM on December 20, 2023 |
Utilization of Fresh Issuance and Technological Advancements
The IPO’s fresh issue aims to fortify Suraj Estate Developers’ financial structure, reflecting growth aspirations and commitment to technological advancements. The innovative credit score card developed in collaboration with Equifax showcases the company’s dedication to enhancing underwriting capabilities.
Conclusion:
As Suraj Estate Developers gears up for its IPO listing on December 26th, understanding GMP trends, pricing details, and the company’s growth strategies becomes paramount. Stay tuned for updates and make informed investment decisions in this exciting real estate venture.
