Suraj Estate Developers IPO GMP, Details to watch, Guidance & Subscription Status @ Chanakyanipothi.com

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Who are the promoter of Suraj Estate Developers IPO? 
Rajan Meenathakonil Thomas

What is the business of Suraj Estate Developers IPO?

The company has a major residential portfolio located in the markets of Mahim, Dadar, Prabhadevi and Parel, which are sub-markets of the South-Central Mumbai micro market where it has established its presence and are one of the market leaders in these locations. It is among the top ten developers as per supply (in number of units). Out of the top ten developers, it ranks first with 15.92% market share. Further, it is also among the top ten developers as per absorption (in number of units) where it ranks first with 16.99% market share. It has been involved in the real estate business since 1986 and develop real estate across the residential and commercial sectors in the South-Central Mumbai region.

It is now venturing into residential real estate development in Bandra sub-market. In its residential portfolio, it is present across the “value luxury” and “luxury” segments across multiple price points with unit values ranging from Rs 10.00 million to Rs 130.00 million.
In its commercial portfolio, it has constructed and sold built-to-suit corporate headquarters to its institutional clientele namely, Saraswat Co-operative Bank Limited (Prabhadevi) and Clearing Corporation of India Limited (Dadar). To cater to the increasing need for smaller independent offices in the commercial segment, it plans to foray into developing boutique office spaces on Tulsi Pipe Road, Mahim.
It has a longstanding presence of over thirty-six (36) years in the real estate market in Mumbai. Its customer-centric business model focuses on addressing customer requirements in various locations, ticket sizes and configurations.

Its strong presence in the South-Central Mumbai region has generated significant brand recall in sub markets in this region and substantial sales referrals from existing customers. Its brand name, longstanding operations and extensive experience in South Central Mumbai region provides it with significant opportunities in this fast-growing redevelopment sub-markets in the region. From 2016 to 2023 (Q1), it launched 15 residential projects out of which 13 projects (~87%) are redevelopment projects.
As on May 31, 2023, it has completed forty-two (42) projects with a developed area of more than 1,046,543.20 square feet in the South Central Mumbai region. In addition to the Completed Projects, we have eleven (11) Ongoing Projects with a developable area of 1,714,962.03 square feet and saleable RERA carpet area 497,774 square feet and twenty-one (21) Upcoming Projects with an estimated carpet area of 843,192square feet.
For more information, click www.surajestate.com

What is the Object of Suraj Estate Developers IPO?
This is only fresh issue of capital.

The Net Proceeds are proposed to be utilised for the following objects:
1.Repayment/Prepayment of the aggregate outstanding borrowings of the Company and its Subsidiaries, Accord Estates Private Limited and Iconic Property Developers Private Limited.
2.Acquisition of land or land development rights; and
3.General corporate purposes.

Suraj Estate Developers IPO GMP, Particulars & Guidance

Suraj Estate Developers IPO Guidance
The company has a major residential portfolio located in the markets of Mahim, Dadar, Prabhadevi and Parel, which are sub-markets of the South-Central Mumbai micro market where we have established its presence and are one of the market leaders in these locations. It is among the top ten developers as per supply (in number of units). Out of the top ten developers, it ranks first with 15.92% market share.
Real estate market of MMR is growing at exponential rate and the profits of this company and other leading companies operating in this city are expected to show strong rise. Apply.
Check our detailed note.

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Suraj Estate Developers IPO GMP

Suraj Estate Developers IPO GMP today details

Suraj Estate Developers IPO GMP today IPO Details, Guidance & Subscription Status