- By Aditya Pratap Singh
- Tue, 26 Dec 2023 11:04 AM (IST)
- Source:JND
Suraj Estate IPO Listing: The shares of real estate developer Suraj Estate Developers Ltd' are listed on exchanges with a 4.5 per cent discount against the upper limit of its IPO's price band. The shares started trading at Rs 340 at NSE on December 26.
The initial offering was opened for subscription on December 18-20 and was subscribed nearly 16 times against the issue size as investors bidding for 12.88 crore shares against the offer size of 82.35 lakh shares. The stock opened at Rs 340 on the NSE and was trading at Rs 346.5 at around 10:55 AM in the early hours. The shares start trading at Rs 340 with a nearer per cent discount against its upper price limit of band Rs 360.
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The issue size of Suraj Estate Developers was Rs. 400 crore, to which the company will use Rs. 285 crore to repay loans and acquire land or land development rights in the Mumbai metropolitan area. The rest of the money is earmarked for general corporate purposes.
Qualified Institutional Buyers (QIBs) showed maximum interest as they bid 24.31 times the reserved portion. The allotted quota for retail investors was subscribed 9.30 times, while high net worth individuals (HNIs) opted for 18.9 times their allotted portion.
Suraj Estate IPO Details
Opened for Subscription- 18-20 December
Price Range of Suraj Estate IPO - Rs - 340-360
Lot size of IPO - 41
Minimum investment - Rs 13,940
IPO Issue Size - Rs 400 cr
Suraj Estate IPO Listing Details
Listing date - 26 December
Listing Price - Rs 340 per share on NSE
Gain or Loss Percentage - loss around 6 per cent
Disclaimer: This is a news update on listing only. Jagran does not advise investing, please consult an advisor before investing.
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