Suraj Estate IPO Launch Today: GMP, Date, Review, Other Details Apply or not?

Meanwhile, the shares of Suraj Estate Developers Limited can be bought in the gray market. According to stock market observations, the shares of Suraj Estate Developers Limited are available in the amount of ₹70 on the gray market today.

Here we list the important details of Suraj Estate IPO:

1]Suraj Estate ipo gmp: The company’s shares are available at a special price ₹70 in the gray market today, which is ₹14 higher than its weekly GMP ₹56, said the market observer.

2] IPO price of Suraj Estate: The real estate company has fixed the Suraj IPO price band at ₹340 to ₹360 per share.

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3] IPO date developer Suraj Estate: The public issue opened today and it will remain open until December 20, 2023.

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4]IPO size of Suraj Estate: The company aims to raise ₹400 crore from this public issue through fresh share issue.

5] Suraj Estate IPO size lots: Bidders will be able to submit multiple requests and one IPO will include 41 shares of the company.

6]Suraj Estate IPO Allotment Date: According to T+3 listing rules, the probable date for allotment of shares is December 21, 2023.

7]Suraj Estate IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of the public offering.

8]Suraj Estate IPO List: A public issue is proposed for listing on BSE and NSE.

9]Suraj Estate IPO Date: The expected date of listing is December 26, 2023.

Suraj Estate IPO: Apply or not?

10]Suraj Estate IPO Review: Giving a ‘book’ tag to the mainboard IPO, Arun Kejriwal, founder of Kejriwal Research and Investment Services said, “The company’s finances are in a good position and the real estate company is sitting on assets that can be used to deal with the financial crisis, which cannot be seen in its balance sheet. As the main market is crowded, one must apply for this IPO. But my advice is to hold the stock for the medium to long term as it is expected to maintain an upward trend even with positive listings.”

Kejriwal said that the company has compared itself with seven competitors and out of these seven competitors, it is available at a cheaper rate than five of the seven.

Advising investors to apply for the long term, Prathamesh Masdekar, a research analyst at StoxBox said, “The recently launched IPO, Suraj Estate Developers, is among the well-known residential real estate developers, focusing on the construction and development of residential and commercial projects in and around the Mumbai South-Central market, because most of the land in the Mumbai South-Central market is a redevelopment project, the company’s core competence is in the settlement of tenants, which is a key factor for unlocking the value of the land,” adding, “The company also has a track record of sustainable gross income from operations, grew at a CAGR of 12.9% during the period FY21-23. Their strong presence in South-Central Mumbai has created significant brand recall in the sub-market and significantly. Citing sales from existing customers, we, therefore, advise investors to book the issue from a long-term perspective.”

Swastika Investmart has also given a ‘book’ tag to this public issue while Axis Capital has not rated Suraj Estate IPO.