Suraj Estate Developers Limited — Updates, 19-10-2024: Press Release

Suraj Estate Developers Limited has raised approximately Rs. 343 crores through a preferential issue of equity shares and convertible warrants. The funds will support land acquisitions, working capital, and general corporate purposes. The company plans to utilize this capital to expand operations in residential and commercial real estate, enhancing stakeholder value. Following the issuance, the promoter group's holding will decrease from 74.95% to 67.71%. Suraj is actively managing 13 ongoing projects and has 18 upcoming initiatives in South Central Mumbai.