The IPO of Suraj Estate was subscribed 15.65 times on the last day Wednesday. The category reserved for retail investors was subscribed 9.3 times, while the NII portion was subscribed 18.9 times. The category reserved for the QIB category was subscribed 24.3 times.
The Mumbai-based realtor has fixed a price band of Rs 340-360 for its IPO and investors can bid for a minimum of 41 shares in one lot and multiples thereafter. According to market analysts, the current GMP of Suraj Estate Developers is Rs 50-60 in the unlisted market.