Suratwwala Business Group IPO Review, Dates, Allotment, Size, Live Bid Details, GMP & RHP

Last Updated Date: Nov 17, 2022

Let’s have a detailed review of the company and analytics of the Suratwwala Business Group Limited IPO release date, IPO offer price, subscription, Suratwwala Business Group IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Suratwwala Business Group IPO Review & Ratings

IPO Ratings & Review
Criteria	Ratings
Industry Sentiments	7.4/10
Industry Ranking	7.1/10
Company Background	8.2/10
Company Reputation	7.7/10
Competitive Edge	7.2/10
Financial Statements	8.0/10
Popularity Index	7.6/10
Promoters Reputation	8.0/10
Retail Appetite	7.5/10
Top Brokers Review	8.1/10
Overall Ratings	7.5/10
Star Ratings	★★★★☆

Summary of Suratwwala Business Group IPO

Suratwwala Business Group IPO They are a real estate development company primarily focusing on development of residential and commercial projects in the Pune district.

Their business activities comprises of development and sale of residential as well as commercial properties (the “Development Business”) and the maintenance of the properties developed by them (the “Maintenance Business”).

Apart from the development and maintenance business, they also focus on providing the space on rent such as renting for mobile tower, hoardings and banners on building or renting of the unsold space for short durations. Their Company is a member of CREDAI PUNE METRO, thereby expanding their horizon to various sectors in real estate business.

From FY 2016-17 to FY 2019-2020, as per the Restated Financial Statements

As per Restated Financial statements for the period ended on October 31, 2019 and for the fiscal 2019, 2018 and 2017, their total revenues were Rs. 483.83 Lakhs, 912.62 Lakhs, 1119.91 Lakhs and 1657.82 lakhs respectively.
Their Profit after Tax for the similar period mentioned above were Rs. 3.67 Lkahs, 85.86 Lakhs, 284.04 Lakhs and Rs. 214.38 Lakhs respectively.

The Promoters of this company are Mr.Jatin Dhansukhlal Suratwala and Mr. Manoj Dhansukhlal Suratwala. The lead manager to the issue is HEM SECURITIES LIMITED. The Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.

List of Upcoming IPOs

Suratwwala Business Group IPO Dates / Launch Date

The opening and the closing date of Suratwwala Business Group IPO is Aug 3-Aug 5, 2020.

Suratwwala Business Group IPO Subscription

Day / Date	NII	RII	Total Subscription
1st Day – Aug 3	0.92x	0.01x	0.47x
2nd Day – Aug 4	1.63x	0.06x	0.85x
3rd Day – Aug 5	2.35x	0.28x	1.31x
Shares Offered or Net Issue	2,180,000	2,180,000	4,360,000

The shares subscribed by the public will be updated here.

Suratwwala Business Group IPO Allotment Status

Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Suratwwala Business Group IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization	Aug 10, 2020
Refunds Initiation	Aug 11, 2020
Credit of Shares to Demat Account	Aug 12, 2020
Share Listing Date	Aug 13, 2020

Suratwwala Business Group IPO Price Band / Cash Price

The face value of each share is Rs.10, and the cash price of the IPO is Rs 15.

Suratwwala Business Group IPO Size

Public Issue of 46,00,000 Equity Shares of face value of Rs.10 each fully paid of the Company for cash at a price of Rs. 15.00 per Equity Share (including a premium of Rs. 5.00 per Equity Share) aggregating to Rs. 690.00 Lakh.

Suratwwala Business Group IPO Share Offering

Fresh Issue: The Fresh issue of 46,00,000 Equity Shares aggregating Rs. 690.00 lakhs to be issued by Company pursuant to the Issue.

Net Issue:The Issue (excluding the Market Maker Reservation Portion) of 43,60,000 Equity Shares of face value of Rs.10 each fully paid for cash at a price of Rs. 15.00 Equity Share aggregating to Rs. 654.00 Lakhs by our Company.

Suratwwala Business Group Limited – Company Overview

Their Company was originally incorporated as Suratwala Housing Private Limited on January 31, 2008 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Maharashtra, Pune.

They are a real estate development company primarily focusing on development of residential and commercial projects in the Pune district. Their business activities comprises of development and sale of residential as well as commercial properties (the “Development Business”) and the maintenance of the properties developed by them (the “Maintenance Business”).

Suratwwala Business Group IPO – Financial Statements

On the basis of Standalone statement:

Amount (in INR & Lakhs)
	31-Mar-20	31-Mar-19	Mar-18	31-Mar-17
Total Assets	5,390.82	4,487.52	3,129.14	2752.49
Total Revenue	1,088.35	912.62	1,119.91	1,657.82
Total Expense	1,037.58	781.57	693.41	1,325.69
Profit After Tax	32.46	85.86	284.04	214.38

Earnings per Equity Share (in Lakhs)

Amount (in INR & Lakhs)
	31-Mar-20	Mar-19	31-Mar-18	31-Mar-17
Basic & Diluted	0.28	0.95	3.28	NA

Suratwwala Business Group IPO – Promoters

The Promoter of this company is:

Mr.Jatin Dhansukhlal Suratwala
Mr. Manoj Dhansukhlal Suratwala

List of Related Parties (Key Managerial Personnel)

Mrs. Prathama Nitin Gandhi, Company Secretary and Compliance Officer
Mr. Diganta Pratim Das, Chief Financial Officer

Suratwwala Business Group Limited: Business strategies

Identification of the projects at prime and strategic location
Diversify the portfolio of projects they undertake and their business activities
Continue to strengthen relationships with key service providers and take benefit of scalability by outsourcing model
Increasing their Geographical reach

Suratwwala Business Group IPO Offer Details or Issue Details

Particulars	No. Of Equity Shares
Equity Shares Offered	Issue of 46,00,000 Equity Shares aggregating to Rs. 690.00 Lakhs.
Of which:
Market Maker Reservation Portion	2,40,000 Equity Shares, aggregating up to Rs 36 lakhs
Net Issue to the Public	Up to 43 ,60,000Equity Shares, aggregating up to Rs. 654 lakhs
Of which:
	21,84,000 Equity Shares aggregating to Rs. 327.60 Lakhs will be available for allocation to RII
	21,76,000 Equity Shares aggregating to Rs. 326.40 Lakhs will be available for allocation to investor other than RII
Equity Shares outstanding prior to the Issue	1,27,41,644 Equity Shares
Equity Shares outstanding after the Issue	Upto 1,73,41,644 Equity Shares

Suratwwala Business Group IPO Issue Object

They intend to utilize the proceeds of the Issue to meet the following objects:

1. To meet Working Capital requirements
2. General Corporate Purpose
3. To meet issue expenses

Suratwwala Business Group Limited: Competitive Strength

Developable land identification capabilities and strong execution.
Focus on a Diversified Business Model
Experienced Promoters and strong Management Team
Strong presence in Pune district
Quality Assurance and Standards

Suratwwala Business Group IPO – Basis of the Offer Price

The Offer Price has been determined by their Company and the Selling Shareholder in consultation with the Lead Managers on the basis of the key business strengths.

Qualitative factors are:

Developable land identification capabilities and strong execution.
Focus on a Diversified Business Model
Experienced Promoters and strong Management Team
Strong presence in Pune
Quality Assurance and Standards

Suratwwala Business Group IPO – Quantitative Factors

	Basic & Diluted EPS	RONW in %	NAV (Rs.)
31-Mar-17	23.71	35.25%	12.66
31-Mar-18	31.41	31.84%	9.87
*31-Mar-19	9.49	8.78%	10.82

Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.10 per each

Particulars	P/E ratio
Highest	39.50
Average	21.33
Lowest	7.70

Suratwwala Business Group Limited: Competitive Peers

	Book Value (Rs.)	Current market Price (Rs.)	P/E	EPS (Rs.)	Return on Net Worth (%)	Face Value (Rs.)	Total Income (Rs. in crores)
Suratwwala Business Group Limited	10.82	[●]	[●]	9.49	8.78%	10	9.13
Listed Peers
Ajmera Realty & Infra India Ltd.	157.32	130.55	7.70	16.96	12.45	10	342.85
Arihant Foundations & Housing Ltd.	177.28	22.75	17.79	1.28	0.97	10	62.96
Art Nirman Ltd.	19.48	26.25	39.50	0.66	6.81	10	18.89
Kolte Patil Developers Ltd.	103.80	240.00	21.47	11.18	9.46	10	466.47
Puravankara Ltd.	69.48	61.35	20.20	3.04	5.04	5	1472.82

Suratwwala Business Group IPO Lead Managers

Lead Manager

HEM SECURITIES LIMITED
904,A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Tel. No.: +91- 022- 49060000
Fax No.: +91- 022- 22625991
Website: www.hemsecurities.com
Email: ib@hemsecurities.com
Investor Grievance Email: redressal@hemsecurities.com
Contact Person :Mr. Anil Bhargava
SEBI Regn. No. INM000010981

Suratwwala Business Group IPO Registrar to Offer

Registrar to the Offer

LINK INTIME INDIA PRIVATE LIMITED
Address: – C-101, 1 Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai, Maharashtra, INDIA-400083
Tel No.: +91-022-49186200
Fax No.: +91-022-49186060
Email: sbgl.ipo@linkintime.co.in
Investor Grievance Email: sbgl.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Regn. No. INR000004058

Other Details:

Statutory Auditor – M/s. S.S.P.M & Co. Chartered Accountants
Legal Counsel to the Company – MAKARAND M. JOSHI & CO.
Bankers to the Company – [●]

Suratwwala Business Group IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review	Company Reputation	Competitive Edge	Financial Statement	Popularity Index	Promoters Reputation
Angel Broking	7.5/10	7.4/10	8.5/10	8.1/10	7.1/10
Sharekhan	7.2/10	7.1/10	8.6/10	8.1/10	7.2/10
Kotak Securities	7.3/10	7.5/10	8.4/10	8.1/10	7.3/10
ICICI Direct	7.3/10	7.3/10	8.7/10	8.1/10	7.1/10
IIFL	7.5/10	7.2/10	8.8/10	8.0/10	7.1/10
Edelweiss	7.5/10	7.4/10	8.4/10	8.3/10	7.2/10
Zerodha	7.4/10	7.1/10	8.5/10	8.1/10	7.0/10
5Paisa	7.1/10	7.1/10	8.4/10	8.1/10	7.1/10
Karvy	7.4/10	7.3/10	8.2/10	8.1/10	7.1/10
Motilal Oswal	7.1/10	7.1/10	8.6/10	8.3/10	7.2/10