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.
The IPO of Suraj Estate Developers was booked over 15.65 times at close. The retail portion of the issue was subscribed 9.3 times, and the non-institutional category s subscription rate stood at 18.9 times.
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.
The IPO of Suraj Estate Developers was booked over 15.65 times at close. The retail portion was subscribed 9.3 times, and the non-institutional category s subscription rate stood at 18.9 times. The net proceeds to be raised from the fresh issue will be used towards repayment of debt of the company and its subsidiaries, acquisition of land or land development rights, and other general corporate purposes.
Motisons Jewellers is the most buzzed of the lot, commanding a premium of Rs 76 in the unlisted market against an issue price of Rs 55. The issue, which closed on Wednesday, was subscribed by a massive 159 times at the end, led by non-institutional and retail investors. The share allotment for the public offer is expected later in the evening today.