Suraj Estate Secures Rs 343 Crore for Expansion & Land Acquisitions

Suraj Estate Developers has raised Rs 343 crore via shares and warrants to purchase land and boost working capital. This financial move aims to enhance operations in residential and commercial real estate, with a focus on strategic growth and value delivery.

Realty giant Suraj Estate Developers has successfully garnered Rs 343 crore through the issuance of shares and warrants. The firm plans to invest the funds in land purchases and fortify its working capital, fueling strategic growth and operational expansion.

A breakdown of the capital raised includes Rs 243 crore from equity shares and nearly Rs 100 crore from convertible share warrants. High-net-worth individuals and asset management funds contributed significantly to this fundraising round.

Chairperson Rajan Meenathakonil Thomas emphasized the pivotal role of these funds in enabling the company to capture new opportunities within the residential and commercial sectors, ensuring sustainable value for stakeholders.

(With inputs from agencies.)