Suraj Estate Developers is likely to finalise the allotment of shares for its initial public offering (IPO) on Thursday, December 21. The Mumbai-based company is likely to debut on the stock exchanges on December 26. The ₹400-crore IPO, which was open for public subscription during December 18 and December 20, subscribed 15.65 times on the final day of bidding.
The portion set aside for Qualified institutional buyers was subscribed 24.3 times, while the portion reserved for the retail investors was subscribed 9.3 times.
The company's maiden public issue is purely a fresh issuance of equity shares worth ₹400 crore with no Offer for Sale (OFS) component.
Proceeds from the IPO will be utilised towards the payment of debt availed by the company as well as its subsidiaries and for the acquisition of land. Also, funds will be used for general corporate purposes.
Shares were available for bidding in the price band of ₹340-360 apiece.
How to check allotment status?
Investors who have bid for the IPO can check the allotment status online at the BSE website or through the website of the official registrar, Link Intime India Private.
How to check share allotment status on BSE website?
· Visit the official BSE site at https://www.bseindia.com/investors/appli_check.aspx
· Select the equity option and then issue the name Suraj Estate Developers from the drop-down box.
· Either enter the Application Number exactly or the PAN (10-digit alphanumeric) number.
· After this is done, an investor needs to click on the Captcha to verify that he or she is not a robot and then click on the Search Button.
An investor can also visit the Link Intime registrar website for IPO status by clicking on the link- https://linkintime.co.in/IPO/public-issues.html
After the finalisation of the basis of allotment, the investors who have been selected will be allotted shares. The refunds will be initiated for investors who did not get the allotment and shares will be credited to the demat accounts of successful bidders on December 22.
(Edited by : Anshul)
First Published: Dec 21, 2023 12:20 PM IST
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