Suraj Estate Developers IPO Allotment: Date & Where To Check Allotment Status
The IPO was subscribed 15.65 times as of 7 p.m. on Wednesday.
![<div class="paragraphs"><p>(Source: Suraj Estate Developers website)</p></div>](https://media.assettype.com/bloombergquint%2F2023-12%2F9c48b03b-b66e-447e-8ff9-246a6d27a7ee%2FSuraj_Estate_website_1.jpg?auto=format%2Ccompress&w=200)
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.
Suraj Estate Developers IPO Allotment Date
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
Suraj Estate Developers IPO Listing Date
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.
Suraj Estate Developers IPO Subscription Details
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
Suraj Estate Developers IPO Timeline (Tentative Schedule)
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
Suraj Estate Developers IPO Issue Details
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
About Suraj Estate Developers Limited
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.