Suraj Estate Developers Ltd. is set to raise up to ₹500 crore through a preferential issue of shares and warrants to eligible shareholders. The company's board has approved the fundraise, which will see shares issued to notable names including Vanaja Sund
Suraj Estate Developers LtdReal EstateIpoStock MarketFundraisingReal Estate NewsAug 20, 2024
Suraj Estate Developers Ltd. plans to raise up to ₹500 crore through a preferential issue of shares and warrants.
Notable names who will be issued shares on a preferential basis include Vanaja Sundar Iyer and Kewal Kiran Clothing.
The issue price for the preferential shares is at a 12.8% discount to Monday's closing price of the shares of the real estate developer.
Every warrant allotted will be convertible into one equity share within a period of 18 months from the date of allotment.
The stock of Suraj Estate Developers Ltd. has surged 150% this year, despite briefly slipping below its IPO price.
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