How To Check Suraj Estate IPO Allotment Status

Suraj Estate Developers aims to raise ₹400 crore through its initial public offering (IPO), featuring a fresh issue of 1.11 crore shares. The IPO’s price band has been set at ₹340-360 per share, and the lot size is 41 shares. The company is set to finalise IPO allotment status on Thursday, December 21.

Checking Allotment Status on Registrar's Website:

You can follow these steps to check the Suraj Estate IPO allotment status

1. Visit the registrar’s website.
2. Click on ‘Select Company' and choose ‘Suraj Estate Developers'.
3. Input your PAN, application number, DP/Client ID, or Account number/IFSC.
4. Enter the captcha.
5. Click on submit.

Checking Allotment Status on BSE

Alternatively, you can check the Suraj Estate Developers IPO allotment status on the BSE

1. Go to the BSE website.
2. Click on ‘Equity’ and select ‘Suraj Estate Developers' from the dropdown menu.
3. Enter your application number and PAN.
4. Click on ‘Search’

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Suraj Estate IPO Details: On the final day of bidding, December 20, the Suraj Estate Developers IPO was oversubscribed by 15.65 times. Notably, retail investors subscribed 9.30 times, while high net-worth individuals (HNIs) subscribed 18.9 times their allotted quota. Qualified institutional buyers (QIBs) demonstrated strong interest, subscribing 24.31 times the reserved portion.

The real estate developer plans to utilise the proceeds from the fresh issue to repay debts amounting to ₹285 crore. Additionally, ₹35 crore will be allocated for acquiring land or land development rights in the Mumbai Metropolitan Region. The remaining funds will be utilized for general corporate purposes, as stated by the company.

Leading up to the IPO, the company raised ₹120 crore from anchor investors. Notable participants in the anchor book include SBI General Insurance Company, Tata Housing Opportunities Fund, Aditya Birla Sun Life AMC, LC Pharos Multi-Strategy Fund VCC, ITI Flexi Cap Fund, and Meru Investment Fund PCC-Cell 1. Other participants include BNP Paribas Financial Markets, Societe Generale-ODI, Quantum-State Investment Fund, and IEGFL-Multi Opportunity.

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