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An announcement from Suraj Estate Developers Limited ( (IN:SURAJEST) ) is now available.
Suraj Estate Developers Limited has raised Rs 45 crore through a private placement of 4.5 crore unlisted, secured non-convertible debentures to IDBI Trusteeship Services, acting as trustee for India Real Estate Investment Fund Series 2 managed by ICICI Venture. The 42-month NCDs, carrying an effective interest structure rising to 17% per annum with monthly payments, highlight the developer’s continued reliance on structured debt financing to support its projects and signal sustained investor appetite for real estate-backed instruments in India.
The debentures are not proposed to be listed, underscoring a targeted funding approach via institutional alternative investment funds rather than public debt markets. This transaction strengthens the company’s liquidity position for ongoing and upcoming developments while reflecting the broader trend of real estate developers leveraging private credit and AIF channels to secure capital amid evolving funding conditions.
More about Suraj Estate Developers Limited
Suraj Estate Developers Limited is a Mumbai-based real estate developer focused on residential and commercial projects, operating within India’s urban property markets. The company taps both equity and debt markets, including non-convertible debentures, to finance its development pipeline and support growth in the real estate sector.
Average Trading Volume: 6,499
Technical Sentiment Signal: Sell
Current Market Cap: 10.53B INR
For a thorough assessment of SURAJEST stock, go to TipRanks’ Stock Analysis page.