Suraj Estate Developers Limited
Suraj Estate is a Mumbai-based real estate developer with a strong presence in the South-Central Mumbai region, including areas like Mahim, Dadar, Prabhadevi, Parel, and Matunga. Established in 1986, the company focuses on residential and commercial developments, primarily in the value luxury and luxury segments. Suraj Estate specializes in the redevelopment of tenanted properties under DCPR Regulation 33(7), with core expertise in tenant settlement—a key factor in unlocking redevelopment potential. The company collaborates with landlords through development agreements or outright purchases and relies entirely on third-party contractors for construction execution.
Price Band₹340 - ₹360 |
Dates18 Dec - 20 Dec |
GMP₹-20 (-5.56%) |
Subscriptions15.65 times |
Issue Size₹400.00 Crs |
Suraj Estate IPO Objects
- Repayment/Prepayment of the aggregate outstanding borrowings of our Company and our Subsidiaries
- Acquisition of land or land development rights
Suraj Estate IPO Details
Price Band₹340 - ₹360 |
Listing AtNSE & BSE |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹400.00 Cr (1.11 Cr Shares) |
Offer For Sale₹0.00 (0.00 Shares) |
Total Issue₹400.00 Cr (1.11 Cr Shares) |
Face Value₹5 per equity share |
Suraj Estate IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
1
41
14,760
Maximum
13
533
1,91,880
|
|||
| Small HNI |
Minimum
14
574
2,06,640
Maximum
67
2,747
9,88,920
|
|||
| Big HNI |
Minimum
68
2,788
10,03,680
|
|||
Suraj Estate IPO Subscription
Updated as on 20-Dec-2023 19:00:00
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 24.31 | 23,52,940 | 5,72,01,396 |
| NII | 18.90 | 17,64,706 | 3,33,60,757 |
| bNII (bids above ₹10L) | 17.35 | 11,76,471 | 2,04,10,005 |
| sNII (bids between ₹2L to ₹10L) | 22.02 | 5,88,235 | 1,29,50,752 |
| Retail | 9.30 | 41,17,647 | 3,82,86,784 |
| Total | 15.65 | 82,35,293 | 12,88,48,937 |
Subscription data excludes the Anchor Investor portion.
Suraj Estate IPO GMP
The estimated Grey Market Premium of Suraj Estate IPO is ₹-20 per share (-5.56%)
- GMPs are available for IPOs with listing dates from May 1, 2025, onwards.
- The GMP prices displayed here reflect news related to grey market trends. We do not trade or deal in the grey market, including subject-to-rates, nor do we recommend participating in grey market trading.
Category Allocation
| Particulars | Allocation |
|---|---|
| QIBs | Not more than 50% of Net Offer |
| Big HNIs (NII) | Not less than 10% of Net Offer |
| Small HNIs (NII) | Not less than 5% of Net Offer |
| Retail | Not less than 35% of Net Offer |
Suraj Estate IPO Financials
| Particulars | Jun-23 | Mar-23 | Mar-22 | Mar-21 |
|---|---|---|---|---|
| Revenue from Operations | 102.41 | 305.74 | 272.72 | 239.99 |
| Profit after Tax | 14.53 | 32.06 | 26.50 | 6.28 |
| Net Worth | 86.11 | 71.39 | 39.16 | 29.15 |
| Total Borrowing | 598.50 | 593.09 | 638.16 | 600.48 |
| Total Assets | 994.73 | 942.58 | 864.00 | 792.00 |
| NAV per share (in ₹) | 27.12 | 22.49 | 12.33 | 45.90 |
| EPS - Basic (in ₹) | 4.58 | 10.10 | 8.35 | 1.98 |
- The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | Values |
|---|---|
| EBITDA | 49.39% |
| PAT | 10.49% |
| ROE | 58.18% |
| ROCE | 21.93% |
| RONW | 58.18% |
| PE Ratio | 35.64 |
| PB Ratio | 16.01 |
| Mkt Cap (in Crs.) | 1,597.00 |
- All information pertains to FY 2022-23.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Suraj Estate IPO Peer Comparision
| Particulars | Suraj Estate | Oberoi Realty | Suntech Realty | Keystone Realtors | Shriram Properties | Mahindra Lifespaces | DB Realty | Hubtown |
|---|---|---|---|---|---|---|---|---|
| Revenue from Ops (in Crs.) | 305.74 | 4,192.58 | 362.44 | 685.66 | 674.40 | 606.61 | 698.24 | 319.09 |
| PAT (In Crs.) | 151.00 | 1,904.55 | 1.41 | 79.50 | 68.25 | 102.83 | -90.01 | 26.28 |
| EPS - Basic | 10.10 | 52.38 | 0.10 | 7.67 | 3.88 | 6.56 | -2.94 | 4.16 |
| NAV per share | 22.49 | 335.81 | 198.45 | 146.59 | 70.58 | 116.75 | 60.69 | 171.03 |
| RONW | 58.18% | 16.83% | 0.62% | 6.29% | 5.63% | 5.64% | -5.93% | 2.03% |
| EBITDA | 49.39% | 55.62% | 19.64% | 15.91% | 6.85% | 12.50% | -16.43% | 23.28% |
| PAT Margin | 10.49% | 45.43% | 0.39% | 11.59% | 10.12% | 16.95% | -12.89% | 8.24% |
| Price to earning (PE) | 35.64 | 25.63 | 4,536.00 | 70.83 | 27.42 | 77.87 | -72.09 | 16.16 |
- All information pertains to FY 2022-23.
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of November 17, 2023 for Peers
Suraj Estate IPO Peer Comparision
| Particulars | Suraj Estate |
|---|---|
| Revenue from Ops (in Crs.) | 305.74 |
| PAT (In Crs.) | 151.00 |
| EPS - Basic | 10.10 |
| NAV per share | 22.49 |
| RONW | 58.18% |
| EBITDA | 49.39% |
| PAT Margin | 10.49% |
| Price to earning (PE) | 35.64 |
| Oberoi Realty | Suntech Realty | Keystone Realtors | Shriram Properties | Mahindra Lifespaces | DB Realty | Hubtown |
|---|---|---|---|---|---|---|
| 4,192.58 | 362.44 | 685.66 | 674.40 | 606.61 | 698.24 | 319.09 |
| 1,904.55 | 1.41 | 79.50 | 68.25 | 102.83 | -90.01 | 26.28 |
| 52.38 | 0.10 | 7.67 | 3.88 | 6.56 | -2.94 | 4.16 |
| 335.81 | 198.45 | 146.59 | 70.58 | 116.75 | 60.69 | 171.03 |
| 16.83% | 0.62% | 6.29% | 5.63% | 5.64% | -5.93% | 2.03% |
| 55.62% | 19.64% | 15.91% | 6.85% | 12.50% | -16.43% | 23.28% |
| 45.43% | 0.39% | 11.59% | 10.12% | 16.95% | -12.89% | 8.24% |
| 25.63 | 4,536.00 | 70.83 | 27.42 | 77.87 | -72.09 | 16.16 |
- All information pertains to FY 2022-23.
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of November 17, 2023 for Peers
Promoter Details
| Name | Shareholding |
|---|---|
| Rajan Thomas | 82.05% |
| Sujatha R. Thomas | 11.66% |
| Rahul Thomas | 1.18% |
| Others | 5.11% |
Management Details
| Name | Designation |
|---|---|
| Rajan Thomas | Chairperson & MD |
| Rahul Thomas | Whole time Director |
| Shreepal Shah | CFO |
Company Details
Name: Suraj Estate Developers Limited
Address: 301, 3rd Floor, Aman Chambers, Veer Savarkar Marg, Opp.
Bengal Chemicals, Prabhadevi, Mumbai 400025, Maharashtra,
India
Number: +91 22 4015 4746
Email: suraj@surajestate.com
Website: www.surajestate.com
Book Running Lead Managers (BRLMs)
ITI Capital
Visit Website
Anand Rathi Securities
Visit WebsiteRTAs
Link Intime
Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Suraj Estate IPO is a Mainboard IPO having an issue size of Rs. ₹400.00 Crs. Suraj Estate IPO is priced at ₹340 - ₹360 per share. The issue opens on 18 Dec 23 and closes on 20 Dec 23.
Suraj Estate IPO opens on 18 Dec 23 and closes on 20 Dec 23.
The estimated Grey Market Premium of Suraj Estate IPO is ₹-20 per share (-5.56%).
The minimum lot size of Suraj Estate IPO is 41 shares & the minimum application amount is Rs. 14760.
The allotment date of Suraj Estate IPO is 21 Dec 23.
The listing date of Suraj Estate IPO is 26 Dec 23.
Suraj Estate IPO is subscribed 15.65 times.
Suraj Estate IPO is priced at ₹340 - ₹360 per share.
Click the allotment link on Suraj Estate IPO page of IPO360.
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Suraj Estate IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
We are a one-stop destination for all your IPO needs. Get reliable, accurate, and timely information for all the IPOs in India!