Other Deals - Listed Firms
Suraj Estate Developers raises Rs.343-Cr
Business Line Suraj Estate Developers
Mumbai-based, publicly listed realty firm Suraj Estate Developers has raised INR 343 crore - through an issue of preferential allotment of equity shares for INR 243 crore (34,12,277 shares at INR 714 per share) and and through convertible warrants for INR 100 crore (13,30,000 at INR 750 per warrant). The round saw participation from high networth individuals (HNIs), family offices and asset management funds.Post the funding round, the promoters’ share will be diluted from 74.95 % to 67.71 %.The new funds will be used by the company to diversify operations and expand product offerings.Suraj Estate Developers delivers projects across residential, commercial and social infrastructure sectors.
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