IPO : Suraj Estate Developers Limited
| SYMBOL | SURAJEST |
| ISSUE TYPE | Book Built Issue IPO |
| ISSUE OPENS ON | Monday, December 18, 2023 |
| ISSUE CLOSES ON | Wednesday, December 20, 2023 |
| ISSUE PRICE | ₹340 to ₹360 per share |
| ISSUE SIZE | Up to Rs.400.00 Crores |
| FACE VALUE | Rs.5 per share |
Suraj Estate Developers IPO is a book built issue of Rs 400.00 crores. The issue is entirely a fresh issue of 1.11 crore shares.
Suraj Estate Developers IPO is open for subscription on December 18, 2023 and close today December 20, 2023. The allotment for the Suraj Estate Developers IPO is expected to be finalized on Thursday, December 21, 2023. Suraj Estate Developers IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, December 26, 2023.
| MINIMUM BID | 41 shares |
| MINIMUM AMOUNT | Rs.14,760 |
| MAXIMUM BID | 533 shares |
| MAXIMUM AMOUNT | Rs.191,880 |
| PROMOTER HOLDING | 74.95% (Post-issue) |
| LISTING DATE | Tuesday, December 26, 2023 |
| LISTING AT | BSE, NSE |
Suraj Estate Developers IPO price band is set at ₹340 to ₹360 per share. The minimum lot size for an application is 41 Shares. The minimum amount of investment required by retail investors is ₹14,760. The minimum lot size investment for sNII is 14 lots (574 shares), amounting to ₹206,640, and for bNII, it is 68 lots (2,788 shares), amounting to ₹1,003,680.
Objects of the Issue (Suraj Estate Developers IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment/Prepayment of the aggregate outstanding borrowings of the company and its subsidiaries, Accord Estates Private Limited and Iconic Property Developers Private Limited.
- Acquisition of land or land development rights.
- General corporate purposes.
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