With reference to its recent Initial Public Offer IPO) and Listing of the shares of the Company on December 26, 2023 with the Stock Exchanges - BSE & NSE. In accordance with the Objects of the Issue appearing in the Prospectus under the heading Utilization of the Net Proceeds (Page No.130), Suraj Estate Developers has informed that the Company has utilised a sum of Rs 285 Crores from the IPO proceeds towards Repayment/Prepayment of the aggregate outstanding borrowings of the Company and its Subsidiaries, Accord Estates, Iconic Property Developers and Skyline Realty. There is no deviation in the utilization of funds, and the same has been utilised as per the objects mentioned in the Prospectus of the Company. The above information will also be made available on the Company’s website www.surajestate.com.
The above information is a part of company’s filings submitted to BSE.
