The investment landscape is buzzing with the opening of Suraj Estate Developers Limited’s initial public offering (IPO) on December 18, set to continue until December 20. As investors consider diving into this opportunity, it’s crucial to explore the key aspects of Suraj Estate IPO’s day 1, from subscription status to Grey Market Premium (GMP) and essential details.
Table of Contents
1. Suraj Estate IPO Subscription Status
As of Monday, December 18, the Suraj Estate IPO has garnered early interest, with the issue subscribed 0.19 times. Breaking it down, the retail category leads with a subscription of 0.35 times, while the Qualified Institutional Buyers (QIB) category shows no subscription yet, and the Non-institutional Investors (NII) category stands at 0.07 times.
2. Price Band and Fundraising
The pricing details are crucial for potential investors. Suraj Estate IPO has a price band set at ₹340 to ₹360 per equity share. The company aims to raise ₹400 crore through this IPO, primarily by issuing fresh shares.
3. Grey Market Premium
In the grey market, shares of Suraj Estate Developers Limited are trading at a premium of ₹70, as reported by investorgain.com. This GMP has seen a rise of ₹14 compared to the weekend, indicating investor anticipation of a listing at ₹430, a 19.44% increase over the issue price of ₹360.
4. Key Considerations
– Key things to Know
Investors should pay attention to key factors:
- Suraj Estate IPO lot size: One lot comprises 41 company shares, allowing bidders flexibility in their applications.
- Allotment Date: Following the T+3 listing rule, the likely date for share allocation is December 21, 2023.
- Registrar: Link Intime India Private Limited is the appointed registrar for the public offer.
- Listing Platforms: The IPO is proposed for listing on BSE and NSE, with the likely listing date set for December 26, 2023.
The Suraj Estate IPO’s day 1 provides a snapshot of early investor interest and key details that potential investors should consider. With the subscription status, pricing, and Grey Market Premium indicating positive sentiments, investors are keenly watching the developments as they contemplate participation in this real estate venture.
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