Mumbai-based realtor Suraj Estate Developers Limited has fixed the price band at Rs 340 to Rs 360 per Equity Share for its maiden initial public offer. The Initial Public Offering of the Company will open on Monday, December 18, 2023, for subscription and close on Wednesday, December 20, 2023. Investors can bid for a minimum of 41 Equity Shares and in multiples of 41 Equity Shares thereafter. The Public Issue of face value of Rs 5 per Equity Share is entirely a fresh issuance of Equity Shares worth Rs 4000 million with no Offer for Sale (OFS) component.
Suraj Estate Developers focuses primarily on value luxury, luxury segments and commercial segment in South Central Mumbai region and now venturing into residential real estate development in Bandra sub-market. With a longstanding presence of over thirty-six years in the real estate market, it has completed 42 projects with a developed area of more than 1,046,543.20 square feet in the South-Central Mumbai region. In addition to the Completed Projects, it has 13 Ongoing Projects with a developable area of 20,34,434.40 square feet and saleable carpet area 6,09,928 square feet and 16 Upcoming Projects with an estimated carpet area of 7,44,149 square feet. ITI Capital Limited, and Anand Rathi Advisors Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
