Suraj Estate IPO listing date today. GMP, experts see a positive launch of shares

Suraj Estate IPO: The listing date for the initial public offering (IPO) of Suraj Estate Developers Limited has been fixed on December 26, 2023. According to information available on the BSE website, the share price of Suraj Estate will be displayed on BSE and NSE during Tuesday’s trading in the special open session. Suraj Estate’s IPO listing will take place in the ‘B’ portfolio.

“The trading members of the exchange are informed that with effect from Tuesday, December 26, 2023, the shares of Suraj Estate Developers Limited will be listed and admitted to trading in the stock market in the list of ‘B’ Group of Securities,” said. BSE notification.

Meanwhile, the IPO Suraj Estate gained strength in the gray market before the listing date. According to stock market watchers, the Suraj Estate share price is at a premium ₹22 in the gray market today.

According to stock market experts, the Suraj Estate IPO received a decent response from investors and it remained in the gray market after the close of subscription. They said that Suraj Estate’s IPO listing price may happen at a premium ₹15 to ₹20, which means real estate stocks may be listed in ₹375 to ₹380 baht per share. They said real estate developer Suraj has strong fundamentals and it is likely to deliver strong returns in the medium to long term. Experts went on to say that the stock may be at a premium of about 6 percent on the listing date.

Talking about the IPO listing price of Suraj Estate, Arun Kejriwal, founder of Kejriwal Research and Investment Services said, “The public issue may not be reflected in the great premium but the company is in the business of redevelopment and they are mainly in south-central Mumbai, which is full of middle-class residential houses. In this area, the supply of land is limited but the redevelopment work has great potential. Also, the company has enough assets to meet the financial challenges. Of ₹15 to ₹20 but is expected to provide strong returns in the medium to long term.”

Expecting a positive launch of Suraj Estate shares, Prathamesh Masdekar, research analyst at StoxBox said, “With Suraj Estate Developers Ltd. IPO coming to the bourses on September 26, 2023, we expect a suitable listing for the issue. We expect the IPO to open at Rs 360 per share at 6% from land in the South-Central Mumbai market mainly as a redevelopment project, capacity The core of the company is in settling tenants which are the key. Elements for unlocking value in these land parcels.”

Prathamesh Masdekar said the company also has a track record of sustainable consolidated revenue from operations, growing at a CAGR of 12.9% over FY21-23. Their strong presence in the South-Central Mumbai region has led to significant brand recall in the sub-market and significant referral sales from existing customers.

As mentioned above, Suraj Estate IPO gray market premium (GMP) today is ₹22, which means that the gray market expects the IPO listing price of Suraj Estate at the price of ₹382.