Suraj Estate Developers IPO Allotment: Date & Where To Check Allotment Status

The Suraj Estate Developers IPO, which opened for subscription on December 18, witnessed significant investor interest, especially on the final day of the subscription period, December 20. On the concluding day, the IPO garnered a remarkable subscription rate. The QIB category saw a subscription of 24.31 times, while the NII category recorded a substantial 18.90 times oversubscription. Retail investors also actively participated, with their subscriptions reaching 9.30 times. The overall subscription, across all categories, stood at an impressive 15.65 times, indicating a strong demand for the IPO.

The allotment of shares for Suraj Estate Developers Limited is expected to be disclosed on Thursday, December 21.

*This is a tentative date and is subject to change

Shares of Suraj Estate Developers Limited are set to be listed on both, BSE and NSE on Tuesday, December 26.

*This is a tentative date and is subject to change

Investors can check Suraj Estate Developers IPO allotment status on the official website of registrar for IPO, Link Intime Pvt Ltd and on the official website of BSE.

Subscription Day 3:

• Total subscription: 15.62 times

• Institutional investors: 24.31 times

• Non-institutional investors: 18.90 times

• Retail investors: 9.25 times

Subscription Day 2:

• Total Subscription: 2.42 times

• Institutional investors: 0.12 times

• Non-institutional investors: 2.06 times

• Retail investors: 3.90 times

Subscription Day 1:

• Total Subscription: 0.78 times

• Institutional investors: 0.13 times

• Non-institutional investors: 0.30 times

• Retail investors: 1.37 times

• IPO Open Date: December 18

• IPO Close Date: December 20

• Basis of Allotment: December 21

• Initiation of Refunds: December 22

• Credit of Shares to Demat: December 22

• Listing Date: December 26

• Total Issue Size: 11,111,111 shares (aggregating up to Rs 400.00 Cr)

• Face Value: Rs 5 per share

• Fresh Issue Size: 11,111,111 shares (aggregating up to Rs 400.00 Cr)

• Shares for Fresh Issue: 1.11 crore shares

• Price Band: Rs 340 to Rs 360 per share

• Lot Size: 41 Shares

Suraj Estate Developers Limited, founded in 1986, is a real estate company in South Central Mumbai. They've completed 42 projects, have 13 ongoing, and 16 upcoming projects. With over 10 lakh square feet developed, they offer residential units in the "Value Luxury" and "Luxury" segments, priced from Rs. 10.00 million to Rs. 130.00 million. Notably, they've constructed corporate headquarters for institutions like Saraswat Cooperative Bank Limited, National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited. As of September 30, 2023, the company and its subsidiaries employ 126 permanent staff.