Suraj Estate Developers' IPO includes a 400 crore INR fresh issue for debt reduction, land acquisition, and general corporate purposes.
Date: Dec 18 to Dec 20, 2023 Listing Date: Dec 26, 2023 Price: INR 340 to - 360 per share Lot Size: 41 Shares Total Issue Size: 11,111,111 shares
Suraj Estate Developers' improved profits & equity contrast with modest revenue growth, declining ratios, and inventory issues.
Suraj Estate leads real estate with strong 58.18% RoNW, ₹10.10 EPS despite lower revenue; peers vary in performance.
Suraj Estate aims to cut borrowings, boost leverage for growth, acquire Mumbai land, and allocate remaining funds for corporate needs.
Suraj Estate faces risks from South Central Mumbai's real estate, including economic, regulatory uncertainties, financial instability.