Suraj Estate Developers IPO: Should investors apply for it? Here is what Anil Singhvi suggests
Suraj Estate Developers IPO: The IPO of realty construction company Suraj Estate Developers is a book-built issue of Rs 400 crore. The issue is entirely a fresh issue of 1.11 crore shares.
Suraj Estate Developers IPO: Realty construction company Suraj Estate Developers' IPO, worth an estimated Rs 400 crore, entered the last day of the bidding process on Wednesday, December 20. The Suraj Estate Developers IPO, which opened on December 18, is a book-built issue comprising fresh issuance of 1.1 crore shares.
If you still haven't decided to whether invest in the IPO or not, here's what Zee Business Managing Editor Anil Singhvi suggests.
Should you apply for Suraj Estate Developers IPO?
Market wizard Anil Singhvi suggests applying for the IPO for a reasonable listing gain and from a long-term perspective. He has pointed out the following key points about the real estate company:
Positive
- The real estate sector is in a bull run
- Company promoters are experienced
- The niche segment of redevelopment projects
- The company has an impressive financial track record
- Valuations are reasonable
Negative
- The company focuses only on limited area in Mumbai
- The market is highly competitive
- Finance costs are very high
Suraj Estate Developers IPO subscription status
Suraj Estate Developers' share sale received bids for 12.8 crore shares as against the 82.4 lakh shares, a subscription of 15.65 times, the third and final day of the bidding process, according to provisional exchange data.
Category | Subscription (No. of times the equity reserved) |
Qualified institutional buyers | 24.31 |
Non-institutional investors | 18.9 |
Retail investors | 9.3 |
Overall | 15.65 |
Source: Exchange data |
Here are some of the key details to know about the Suraj Estate IPO:
-
Suraj Estate Developers IPO allotment date: December 21 (tentatively)
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Suraj Estate Developers IPO listing date: December 26 (tentatively)
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Suraj Estate Developers IPO face value: Rs 5 per share
-
Suraj Estate Developers IPO price band: Rs 340 to Rs 360 per share
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Suraj Estate Developers IPO lot size: 41 shares
What does Suraj Estate Developers IPO do?
Incorporated in 1986, Suraj Estate Developers is a real estate construction company that develops residential and commercial real estate in the South Central Mumbai region.
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