Suraj Estate Developers Limited Launches IPO Key Details and Updates

Suraj Estate Developers Limited Launches IPO Key Details and Updates Suraj Estate Developers Limited, a prominent real estate company, initiated its initial public offering (IPO) on Monday, with the subscription period extending until Wednesday, December 20, 2023.

IPO Price Band and Fundraising Goal

The IPO’s price band has been established at Rs 340 to Rs 360 per equity share. The company’s ambitious target is to secure Rs 400 crore from this inaugural offering.

Grey Market Insights for Suraj Estate Ltd IPO

Shares of Suraj Estate Developers Limited are actively traded in the grey market. On Monday, the shares were priced at a premium of Rs 70, marking a Rs 14 increase from the weekend Grey Market Premium (GMP) of Rs 56.

Lot Size and Application Details

Prospective investors can apply for shares in lots, with each lot consisting of 41 company shares. As per the T+3 listing rule, the anticipated date for share allocation is December 21, 2023.

Bidding Period for Suraj Estate IPO

The bidding window for the Suraj Estate Developers Limited IPO opened on Monday, December 18, and is set to conclude on Wednesday, December 20. Bidding activities are scheduled to occur between 10 am and 5 pm.

Subscription Status as of Monday Morning

As of 10:27 am on Monday, the public issue had garnered a subscription rate of 0.05 times, with the retail portion seeing a subscription of 0.10 times. The non-institutional investor (NII) portion had a subscription rate of 0.01 times.

Registrar and Listing Plans

Link Intime India Private Limited has been appointed as the official registrar for the public offer. The company intends to list on both BSE and NSE, with the anticipated date for share listing set for December 26, 2023.

Investors and stakeholders are closely monitoring the developments surrounding Suraj Estate Developers Limited’s IPO as it progresses through its subscription period.