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

Face ValueRs 10
Cash Price Rs 45
Listing AtBSE, SME
Min. Order Quantity3000 Shares
Listing DateNov 16, 2021
Offer for SaleRs 2275 Lakh
Fresh IssueRs 675 Lakh
IPO SizeRs 2950 Lakh
Tick Size1

Suyog Gurbaxani Funicular Ropeways IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.


Suyog Gurbaxani Funicular Ropeways IPO – Summary

Suyog Gurbaxani Funicular Ropeways IPOThey are an infrastructure development and constructions company engaged in building & operating the Funicular Ropeways Systems. Their Company is currently involved in an Infrastructural Development project through a Build, Operate and Transfer mode (“BOT”) wherein, they have completed the construction of a Funicular Ropeway System project (also known as Incline Ropeways) at Saptashrungi Gad Temple

It is situated in Vani, Nashik, Maharashtra. Saptashrungi Gad Temple is a popular destination for devotees where people come from all over India for taking the blessings of Goddess and this temple experiences a large number of visitors throughout the years and also experiences some of the peak seasons at the time of Navratri festivals which happens two times in a year.

The Promoter of this company is Mr. Rajkumar Gurbaxani, Mr. Omprakash Gurbaxani, and Mr. Shivshankar Lature. The lead manager to the issue is ARYAMAN FINANCIAL SERVICES LIMITED, and the Registrar to this issue is KFIN TECHNOLOGIES PRIVATE LIMITED.


Suyog Gurbaxani Funicular Ropeways IPO Date

The opening and the closing date of Suyog Gurbaxani Funicular Ropeways IPO are Nov 1, 2021, and Nov 8, 2021, respectively.


Suyog Gurbaxani Funicular Ropeways IPO Subscription

Day / DateNIIRIITotal Subscription
1st Day – 1st Nov1.15x0.06x0.60x
2nd Day –  2nd Nov1.46x0.12x0.79x
3rd Day – 3rd Nov1.92x0.18x1.05x
4th Day – 8th Nov1.98x0.56x1.27x
Shares Offered or Net Issue3,111,0003,111,0006,222,000

The shares subscribed by the public will be updated here.

Check Suyog Gurbaxani Funicular Ropeways IPO LIVE Subscription

  • Suyog Gurbaxani Funicular Ropeways IPO LIVE Bid details on BSE
  • Suyog Gurbaxani Funicular Ropeways IPO LIVE Bid details on NSE

For the Latest Bid details click on the above links.


Suyog Gurbaxani Funicular Ropeways 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.

Suyog Gurbaxani Funicular Ropeways Limited IPO Listing Date

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

Basis of Allotment FinalizationNov 11, 2021
Refunds InitiationNov 12, 2021
Credit of Shares to Demat AccountNov 15, 2021
Share Listing DateNov 16, 2021

Suyog Gurbaxani Funicular Ropeways IPO Cash Price

The face value of each share is Rs.10, but the price band of the IPO is Rs.45 


Suyog Gurbaxani Funicular Ropeways IPO Equity Size

This Initial Public Issue of 65,55,000 Equity Shares of Rs.10 each for cash at a price of Rs.45 per equity share aggregating to Rs.2950 Lakh.


Suyog Gurbaxani Funicular Ropeways IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 15,00,000 Equity Shares of Rs.10/ each.

Issue Size: 65,55,000 Equity Shares of Rs.10 each, aggregating to Rs.2950 Lakh


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    Suyog Gurbaxani Funicular Ropeways IPO – Live Performance

    The listing date of this IPO is Nov 16, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Suyog Gurbaxani Funicular Ropeways Share Price

    Suyog Gurbaxani Funicular Ropeways IPO Grey Market Premium

    The Suyog Gurbaxani Funicular Ropeways Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


    Suyog Gurbaxani Funicular Ropeways IPO – Company Overview

    Their Saptashrungi Project primarily has a Funicular Ropeway System consisting of 2 Air Conditioner funicular vehicles/coaches which can carry 60 passengers/ devotees at a time. The Shopping complex, forming a part of their project, provides the facility of more than 50 shops providing various buying avenues to the visitors including food shops.

    The parking facility built in the vicinity of the funicular ropeway has a capacity of more than 150 vehicles including four-wheelers and two-wheelers. Lastly, they also have constructed a hotel that houses 28 guest rooms & dormitories, a multi-cuisine restaurant, and a coffee shop.

    Their project is spread over in an area of 10 acres, which houses the funicular ropeway system, a shopping mall, a parking facility, and a hotel facility.

    Their Company has taken into consideration all the safety measures required for the project and has received a certificate from the foreign consultant which confirms the safe operations of Funicular Ropeway, their Ropeway is being designed considering all safety measures which can stop and hold the funicular ropeway at a particular place even at the steep, at the time of some contingency or in the event of breakdown of rope or some technical problem arise in the ropeway.


    Suyog Gurbaxani Funicular Ropeways IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Lakh)
    31-Mar-2131-Mar-20Mar-19
    Total Assets8,619.668,871.249,410.58
    *Total Revenue447.791,319.29790.67
    Total Expense1,241.201,507.391,139.07
    Profit After Tax(793.40)(188.10)(348.40)

    Earnings per Equity Share (in Lakh)

    31-Mar-2131-Mar-20Mar-19
    Basic & Diluted(3.91)(0.93)(2.15)

     

    Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. (793.40) Lakh, Rs. (188.10) Lakh and Rs. (348.40) Lakh respectively.


    Suyog Gurbaxani Funicular Ropeways IPO – Promoters

    The Promoter of this company is:

    1. Mr. Rajkumar Gurbaxani
    2. Mr. Omprakash Gurbaxani
    3. Mr. Shivshankar Lature

    List of Related Parties (Key Managerial Personnel)

    • Rajkumar Gurbaxani, Whole Time Director
    • Omprakash Gurbaxani, Non-Executive Director
    • Shivshankar Lature, Non-Executive Director
    • Hrishikesh Marathe, Non-Executive Director
    • Ramlal Sarote, Non-Executive Independent Director
    • Manisha Shelar, Additional Non-Executive Independent Director

    Suyog Gurbaxani Funicular Ropeways IPO – Promoters Holding

    • Pre Issue Share Holding – 90.57%
    • Pos Issue Share Holding – 64.78%

    Suyog Gurbaxani Funicular Ropeways IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
     Equity Shares Offered Up to 65,55,000 Equity Shares aggregating up to Rs.2950 Lakh
    of which:
    Issue Reserved for the Market MakersUp to 3,33,000 Equity Shares aggregating up to Rs.[●]
    Lakh
    Net Issue to the PublicUp to 62,22,000 Equity Shares aggregating up to Rs.[●]
    Lakh
    Of which:
    Retail Investors Portion Not less than 31,11,000 Equity Shares
    Other than Retail Individual InvestorsNot more than 31,11,000 Equity Shares
     Equity Shares outstanding prior to the Issue2,33,62,222 Equity Shares
     Equity Shares outstanding after the Issue24,8,62,222 Equity Shares

    Suyog Gurbaxani Funicular Ropeways IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. Repayment of loans
    2. Funding expenditure for General Corporate Purposes

    Suyog Gurbaxani Funicular Ropeways IPO – Business Strategy

    • Continue to pursue growth in what they believe to be their core competency, the funicular ropeway infrastructure sector, and continue to grow their business with a focused business strategy.
    • Maintaining market position in the Indian BOT infrastructure sector and capturing the new growth opportunities in the religious as well such unique infrastructure sector.
    • Continue to focus on quality, executing projects in a timely manner, and service delivery with the help of Managerial expertise and trained workforce results in a consistently high level of productivity.
    • Pursue Strategic Alliances

    Suyog Gurbaxani Funicular Ropeways IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Integrated in-house execution capabilities
    • The ability to obtain funding for Projects
    • Cordial Client Relations
    • Management Expertise
    • Efficient Business Model and Low Labour Costs
    • Promoting and Encouraging Tourism

    The relevant quantitative factors are:

    Basic & Diluted EPSRONW (%)NAV (Rs.)
    31-Mar-21(3.91)(113.58)3.44
    31-Mar-20(0.93)(12.61)
    Mar-19(2.15)(20.74)

    Suyog Gurbaxani Funicular Ropeways IPO: Competitive Peers

    Face Value (Rs.)P/EEPS  (Rs.)Return on Net Worth (%)Total Income (Rs. in Lakhs)
    Suyog Gurbaxani Funicular Ropeways Limited10[●](3.91)(113.58)447.79
    Listed Peers
    NA

    Suyog Gurbaxani Funicular Ropeways IPO Lead Managers

    Lead Managers
    ARYAMAN FINANCIAL SERVICES LIMITED
    60, Khatau Building, Ground Floor,
    Alkesh Dinesh Modi Marg,
    Fort, Mumbai – 400 001
    Tel No.: +91 – 22 – 6216 6999
    Email: ipo@afsl.co.in;
    Website: www.afsl.co.in
    Investor Grievance Email: feedback@afsl.co.in
    Contact Person: Mr. Vastal Ganatra/ Ms. Hiral Motani
    SEBI Registration No. INM000011344

    Suyog Gurbaxani Funicular Ropeways IPO Registrar to offer

    Registrar to the Offer
    KFIN TECHNOLOGIES PRIVATE LIMITED
    (Formerly known as “Karvy Fintech Private Limited”)
    Karvy Selenium, Tower-B, Plot No. 31 & 32, Gachibowli, Financial District,
    Nanakramguda, Serilingampally, Hyderabad – 500 032.
    Tel No.: +91 – 40 – 6716 2222
    Email: sgfrl.ipo@kfintech.com;
    Website: www.kfintech.com
    Investor Grievance Email: cinward.ris@kfintech.com
    Contact Person: Mr. M. Murali Krishna
    SEBI Registration No.: INR000000221

    Suyog Gurbaxani Funicular Ropeways IPO – Other Details

    • Statutory Auditor – M/s. J. S. Uberoi and Co. and M/s. Aniket Kularni & Associates., Chartered Accountants
    • Legal Counsel to the Company – M/S KANGA & CO. (ADVOCATE AND SOLICITORS)
    • Bankers to the Company –  NA


    Suyog Gurbaxani Funicular Ropeways IPO Review by 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

     


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      Suyog Gurbaxani Funicular Ropeways Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download


      Suyog Gurbaxani Funicular Ropeways IPO Review FAQs

      Ques – What is the Issue Size of Suyog Gurbaxani Funicular Ropeways IPO?

      Answer – The Company is making an initial public offer of 65,55,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      Ques – What is the Price band of Suyog Gurbaxani Funicular Ropeways IPO?

      Answer – The price band for this particular IPO ranges between Rs 45. As far as the face value of the share is of concern, it is Rs.10 per share.

      Ques – What is the Suyog Gurbaxani Funicular Ropeways IPO Open Date?

      Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Nov 1, 2021, while the closing date is set at Nov 8, 2021.

      Ques – What is the Suyog Gurbaxani Funicular Ropeways IPO Allotment Date?

      Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Nov 11, 2021, refund initiation is on Nov 12, 2021, credit of shares is on Nov 15, 2021, and share listing date is on Nov 16, 2021.

      Ques – What is the Suyog Gurbaxani Funicular Ropeways IPO Listing Date?

      Answer – Shares of this company shall be listed in the exchanges on Nov 16, 2021. The date, when the listing would be done, is stagnant on Nov 16, 2021.

      Ques – Who is the Registrar of Suyog Gurbaxani Funicular Ropeways IPO?

      Answer – One of the reputed registrars is managing the issue of this IPO, i.e. KFIN TECHNOLOGIES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.

      Ques – Who is the Promoter of Suyog Gurbaxani Funicular Ropeways IPO?

      Answer – Here are the promoters of this IPO – Mr. Rajkumar Gurbaxani, Mr. Omprakash Gurbaxani, and Mr. Shivshankar Lature. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      Ques – What is the GMP of Suyog Gurbaxani Funicular Ropeways IPO?

      Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

      Ques – Is Suyog Gurbaxani Funicular Ropeways IPO good for Investment?

      Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      Ques – What is the PAT of Suyog Gurbaxani Funicular Ropeways Company?

      Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Lakh is (793.40), 2020 is (188.10), 2019 is (348.40).


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