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

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
CriteriaRatings
Industry Sentiments7.4/10
Industry Ranking7.1/10
Company Background8.2/10
Company Reputation7.7/10
Competitive Edge7.2/10
Financial Statements8.0/10
Popularity Index7.6/10
Promoters Reputation8.0/10
Retail Appetite7.5/10
Top Brokers Review8.1/10
Overall Ratings7.5/10
Star Ratings★★★★☆

Summary of Suratwwala Business Group IPO

Suratwwala Business Group IPOThey 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.



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 / DateNIIRIITotal Subscription
1st Day – Aug 30.92x0.01x0.47x
2nd Day – Aug 41.63x0.06x0.85x
3rd Day – Aug 52.35x0.28x1.31x
Shares Offered or Net Issue2,180,0002,180,0004,360,000

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 FinalizationAug 10, 2020
Refunds InitiationAug 11, 2020
Credit of Shares to Demat AccountAug 12, 2020
Share Listing DateAug 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-2031-Mar-19Mar-1831-Mar-17
Total Assets5,390.824,487.523,129.142752.49
Total Revenue1,088.35912.621,119.911,657.82
Total Expense1,037.58781.57693.411,325.69
Profit After Tax32.4685.86284.04214.38

Earnings per Equity Share (in Lakhs)

Amount (in INR & Lakhs)
31-Mar-20Mar-1931-Mar-1831-Mar-17
Basic & Diluted0.280.953.28NA

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 Portion2,40,000 Equity Shares, aggregating up to Rs 36 lakhs
Net Issue to the PublicUp 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 Issue1,27,41,644 Equity Shares
 Equity Shares outstanding after the IssueUpto 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 EPSRONW in %NAV (Rs.)
31-Mar-1723.7135.25%12.66
31-Mar-1831.4131.84%9.87
*31-Mar-199.498.78%10.82
  • Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.10 per each
ParticularsP/E ratio
Highest39.50
Average21.33
Lowest7.70

Suratwwala Business Group Limited: Competitive Peers

Book Value (Rs.)Current market Price (Rs.)P/EEPS  (Rs.)Return on Net Worth (%)Face Value (Rs.)Total Income (Rs. in crores)
Suratwwala Business Group Limited10.82[●][●]9.498.78%109.13
Listed Peers
Ajmera Realty & Infra India Ltd.157.32130.557.7016.9612.4510342.85
Arihant Foundations & Housing Ltd.177.2822.7517.791.280.971062.96
Art Nirman Ltd.19.4826.2539.500.666.811018.89
Kolte Patil Developers Ltd.103.80240.0021.4711.189.4610466.47
Puravankara Ltd.69.4861.3520.203.045.0451472.82

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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Suratwwala Business Group IPO Grey Market Premium

The Suratwwala Business Group IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Suratwwala Business Group IPO News

News 1Suratwwala Business Group IPO  [Download DRHP Prospectus]

News 1Suratwwala Business IPO  [Download RHP Prospectus]


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