Real estate private equity firm HDFC Capital Advisors is backing the project with a financing of Rs 200 crore. This is the second investment the developer has secured from HDFC Capital under a Rs 500-crore residential housing platform that was by both the entities in 2019. Last year, HDFC Capital secured a complete exit from its first investment of Rs 135 crore made through this platform.
Suraj Estate Developers share price today made a weak debut on the bourses today. On NSE, it was listed at ₹340 per share, 5.55 percent lower than the issue price of ₹360.
Suraj Estate Developers sold its IPO in the price band of Rs 340-360 apiece, with a lot size of 41 shares. The IPO ran from December 18 to December 20.
Since most of the land parcels in the South-Central Mumbai market are re-development projects, the company s core competence lies in tenant settlement, which is a crucial element for unlocking value on such land parcels.