Suraj Estate Developers Ltd has filed preliminary papers with capital markets regulator Sebi to mop-up Rs 500 crore through an initial public offering (IPO).
- Govt plans new route connecting Noida airport to NH-34
- India Ranks Third in Global Fintech Funding, Despite 33% Drop in 2024
- India’s Retail Inflation Drops to 5.22% in December, Food Inflation at 8.39%
- Donald Trump Inauguration: Xi Jinping Invited, S Jaishankar to Represent India
- What Is Currency Appreciation: Working & Cause Of Currency Appreciation
The funds will be raised through fresh equity shares, the draft red herring prospectus (DRHP) filed with SEBI showed.
Funds to the tune of Rs 315 crore will be used to pay the borrowings of the company and its subsidiaries, According to Estates, Iconic Property Developers and Skyline Realty.
Suraj Estate Developers has been involved in the real estate business since 1986 and develops real estate across the residential and commercial sectors in the South Central Mumbai region.
