Suraj Estate Developers IPO opens on December 18: Here are 10 things to know about the public offer

economictimes.indiatimes.com:

IPO) of Suraj Estate Developers will open for subscription on December 18. The issue closes on December 20.

The company's shares are expected to get listed on both the exchanges. Here are 10 things to know about the offer.

1. What is the business overview of Suraj Estate Developers?
   Suraj Estate has a longstanding presence of over thirty-six years in the real estate market in Mumbai. It has been developing residential and commercial properties throughout South Central Mumbai. According to a Anarock report, it is one of the top ten developers as per supply (in number of units).
2. What is the industry overview of Suraj Estate Developers?
   Mumbai Metropolitan Region (MMR) has been the top performer in overall residential real estate activity in 2021 with a share of 24% of total supply (56,883 units) and 32% of total absorption (76,396 units) in the top seven Indian markets. Further in 2022, there has been an improvement in the overall supply of MMR with a share of 35% of the total supply (124,652 units) and slight reduction in overall absorption levels of MMR.
3. What is the size of Suraj Estate Developers IPO?
   The IPO is a fresh issue of up to Rs 400 crore. There is no offer for sale segment.
4. What is the price band for Suraj Estate Developers IPO?
   The price band of this public issue is fixed at Rs 340-360. Investors can bid for 41 shares in 1 lot and in multiples thereafter.
5. What is the structure of Suraj Estate Developers IPO?
   About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
6. How is the financial performance of Suraj Estate Developers?
   Suraj Estate Developers clocked a profit of Rs 32 crore in FY23, against Rs 26 crore in the previous