Suraj Estate Developers IPO GMP

Suraj Estate IPO GMP: Suraj Estate Developers Ltd, a prominent player in the Indian real estate market, has recently announced the launch of its mainline Initial Public Offering (IPO) on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This IPO is set to open for subscription from December 18, 2023, to December 20, 2023, with each share having a face value of Rs 5. Interested investors can apply for this IPO by purchasing at least one lot of 41 shares or in multiples thereof, within the price band of Rs 340 to Rs 360 per share, as specified in the company’s offer document.

Also See: IPO GMP Today Price: All IPO GMP Today

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One of the key indicators that potential investors monitor closely in the lead-up to an IPO is the Grey Market Premium (GMP). The GMP is essentially the price at which an IPO is traded unofficially and without regulation in the grey market before its official listing. It provides valuable insights into how the market perceives the upcoming IPO and can signal whether it is likely to debut at a premium or discount when officially listed.

Suraj Estate Developers IPO GMP

As of the latest update, the Grey Market Premium for the Suraj Estate IPO stands at Rs 15. This means that in the unofficial market, the IPO shares are currently trading at a premium of Rs 15 per share compared to the IPO price. With the IPO price band set at Rs 340 to Rs 360, this implies an estimated listing price of Rs 375, representing an expected percentage gain of 4.17% for investors.

Here is a historical perspective of the Suraj Estate Developers IPO GMP: [ Last Updated: 26 Dec, 2023; 09:05]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
26-12-2023360.00₹15500/7000₹375 (4.17%)
25-12-2023360.00₹15500/7000₹375 (4.17%)
24-12-2023360.00₹15500/7000₹375 (4.17%)
23-12-2023360.00₹15500/7000₹375 (4.17%)
22-12-2023360.00₹15500/7000₹375 (4.17%)
21-12-2023360.00₹25800/11200₹385 (6.94%)
20-12-2023360.00₹25800/11200₹385 (6.94%)
19-12-2023360.00₹702200/30800₹430 (19.44%)
18-12-2023360.00₹702200/30800₹430 (19.44%)
17-12-2023360.00₹702200/30800₹430 (19.44%)
16-12-2023360.00₹662100/29400₹426 (18.33%)
15-12-2023360.00₹551700/23800₹415 (15.28%)
14-12-2023360.00₹652000/28000₹425 (18.06%)
13-12-2023360.00₹551700/23800₹415 (15.28%)
12-12-2023₹0₹ (0%)

Please note that the GMP is subject to rapid fluctuations and can change frequently. Therefore, investors should exercise caution and not solely rely on this metric for their investment decisions.

Also Read: What is GMP in IPO: Understanding Grey Market Premium (GMP) in IPOs

Understanding IPO Grey Market Premium

The Grey Market Premium (GMP) is a critical parameter for gauging market sentiment and demand for an upcoming IPO. It reflects the price difference between the unofficial market and the IPO issue price, indicating whether the IPO is likely to witness a premium or a discount when it gets officially listed. Here’s a quick breakdown:

  • Positive GMP: A positive GMP suggests that investors in the grey market are willing to pay more for the IPO shares than the issue price, indicating strong demand. This often translates to the IPO debuting at a premium on the listing day.
  • Negative GMP: A negative GMP implies that IPO shares in the grey market are trading at a discount compared to the issue price. This may suggest weaker demand and the possibility of the IPO listing at a discount.

Also Read: What is IPO?: Benefits of Investing in an IPO

About Suraj Estate Developers

Suraj Estate Developers is a well-established player in the Indian real estate sector, with a strong presence in both residential and commercial properties. The company’s residential properties are strategically located in key areas of Mumbai, including Mahim, Dadar, Prabhadevi, and Parel. Suraj Estate Developers is known for constructing properties ranging from value luxury to luxury, with prices ranging from Rs 10 million to Rs 130 million. Additionally, the company has developed corporate headquarters for notable institutions such as Saraswat Co-operative Bank Limited, NSE, Union Bank, and Clearing Corporation of India (Dadar).

Also Read: How to Open a Demat Account on Groww

Strengths of Suraj Estate Developers IPO

The company boasts several strengths that make its IPO an attractive proposition for potential investors:

  1. Established Brand: Suraj Estate Developers has a strong brand presence in the residential real estate market, particularly in South Central Mumbai.
  2. Diverse Portfolio: The company offers a diverse portfolio of properties, catering to various segments from value luxury to luxury (1 BHK to 4 BHK flats).
  3. Expertise in Tenant Settlements: Suraj Estate Developers has established itself as a market leader in tenant settlements within redevelopment projects.
  4. Experienced Management: The company is led by experienced promoters and managers with over 36 years of experience in the real estate industry.

Also Read: Medi Assist Healthcare Services and Appejay Surrendra Park Hotels Receive SEBI Nod for IPOs

Suraj Estate Developers IPO Objectives

The net proceeds from the IPO will be allocated towards the following objectives:

  1. Repayment/Prepayment of 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.
  3. General corporate purposes.

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Suraj Estate Developers IPO Dates

For investors planning to participate in the Suraj Estate Developers IPO, here are the important dates to keep in mind:

  • IPO Open Date: December 18, 2023
  • IPO Close Date: December 20, 2023
  • Basis of Allotment Finalization Date: December 21, 2023
  • Refunds Initiation: December 22, 2023
  • Credit of Shares to Demat Account: December 22, 2023
  • IPO Listing Date: December 26, 2023
Suraj Estate IPO

Conclusion

The Grey Market Premium (GMP) for the Suraj Estate Developers IPO provides investors with valuable insights into market sentiment and expectations. While it can be a useful indicator, it should not be the sole basis for making investment decisions. It’s important to consider all relevant factors, including the company’s fundamentals, financials, and industry outlook, before deciding whether to invest in the IPO.

As with any investment, it’s advisable to consult with financial experts or conduct thorough research to make informed investment choices. The Suraj Estate Developers IPO presents an opportunity for investors to be part of the growth story of a well-established player in the Indian real estate sector.

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