Suraj Estate Developers board approves capital hike, fundraise of up to ₹500 crore

The board of directors of Suraj Estate Developers Limited approved an increase in authorized capital from ₹30,00,00,000 to ₹34,00,00,000. This capital will be divided into 6,80,00,000 equity shares of ₹5/- each, up from 6,00,00,000 shares.

The company also approved a plan to raise funds up to ₹500 crore through the issuance of equity shares or other equity-linked/convertible securities or warrants. This fundraising can be conducted via private placement, preferential issue, rights issue, or qualified institutional placement (QIP), subject to shareholder and regulatory approvals.

These proposals will be presented for shareholder approval at the forthcoming 39th Annual General Meeting (AGM), which has been rescheduled from September 19, 2025, to September 30, 2025. An updated AGM notice and the 2024-25 annual report will be circulated to shareholders and filed with stock exchanges.