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A real Estate Company’s Initial Public Offering | Suraj Estate IPO

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BSE (Bombay Stock Exchange)

Suraj Estate IPO GMP is trading at 22 Rs as of today. This is the premium in the Grey Market before the actual launch of the IPO. Market experts are keeping high hopes with the launch of Suraj Estate IPO
Suraj Estate IPO listing is set to be on 26th December 2023. Suraj Estate Developers is a realty company based in the city of Mumbai with a stronghold in some pockets. The website of BSE informs that the share price of Suraj Estate will be listed on BSE and NSE on Tuesday. There will be a special pre-open session during Tuesday Deals. The IPO will be listed in ‘B’ Group Securities.
The prices of Suraj estate IPO are already gaining premium in the grey market. According to the stock market, the current premium is Rs 22 in the grey market as of today.
The stock market experts are highly optimistic about the response that the Suraj estate developers’ IPO received from the people after the subscription closed. The Suraj Estate IPO has garnered positive attention from investors, maintaining stability in the grey market post-subscription closure, according to stock market experts. Projections suggest a listing price premium of ₹15 to ₹20, anticipating the real estate stock to debut at ₹375 to ₹380 per share. Analysts highlight the company’s robust fundamentals, emphasizing potential strong returns in the medium to long term. With a focus on redevelopment in Mumbai’s south-central region, where land supply is limited but redevelopment holds immense potential, Suraj Estate is positioned for growth. Experts foresee a listing premium of around 6%, anticipating a positive debut.

Experts View on Suraj Estate IPO

Arun Kejriwal, Founder of Kejriwal Research and Investment Services, notes that while the public issue may not debut with an extravagant premium, the company’s expertise in redevelopment, especially in a region filled with middle-class homeowners owning bungalows, presents significant opportunities. The limited land supply in the area enhances the potential for redevelopment projects. Additionally, Suraj Estate Developers possess ample assets to address any unforeseen financial challenges. The expected premium of ₹15 to ₹20 on the listing is viewed as a precursor to strong long-term performance.

Prathamesh Masdekar, Research Analyst at StoxBox, shares optimism about Suraj Estate’s IPO, predicting a decent listing with a potential premium of approximately 6% over the issuance price of ₹360 per share. He highlights the company’s core competence in tenant settlement, a crucial element for unlocking value in redevelopment projects. Suraj Estate’s track record of sustained consolidated revenue growth, with a CAGR of 12.9% during FY21-23, reflects its stability and market presence. The strong brand recall in sub-markets, coupled with substantial sales referrals from existing customers, contributes to a positive outlook.

As of now, the Suraj Estate IPO grey market premium (GMP) stands at ₹22, suggesting expectations of a listing price around ₹382 per share. This premium reflects the market’s confidence in the company’s potential for a successful debut. Investors and market participants are keenly watching for the IPO’s listing date to gauge its performance and validate the optimistic projections from experts and analysts.

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