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Suratwwala Business IPO is a fixed price issue of Rs 6.90 crores.
Suratwwala Business IPO bidding started from August 3, 2020 and ended on August 5, 2020. The allotment for Suratwwala Business IPO was finalized on Monday, August 10, 2020. The shares got listed on BSE SME on August 13, 2020.
Suratwwala Business IPO price is ₹15 per share. The minimum lot size for an application is 8000 Shares. The minimum amount of investment required by retail investors is ₹120,000.
Hem Securities Limited is the book running lead manager of the Suratwwala Business IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Suratwwala Business IPO RHP for detailed information.
| IPO Date | August 3, 2020 to August 5, 2020 |
| Listing Date | August 13, 2020 |
| Face Value | ₹10 per share |
| Price | ₹15 per share |
| Lot Size | 8000 Shares |
| Total Issue Size | 4,600,000 shares (aggregating up to ₹6.90 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Market Maker portion | 240,000 shares |
Suratwwala Business IPO offers 4,600,000 shares. 2,180,000 (47.39%) to NII, 2,180,000 (47.39%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 240,000 (5.22%) |
| Other Shares Offered | 2,180,000 (47.39%) |
| Retail Shares Offered | 2,180,000 (47.39%) |
| Total Shares Offered | 4,600,000 (100%) |
Suratwwala Business IPO opens on August 3, 2020, and closes on August 5, 2020.
| IPO Open Date | Monday, August 3, 2020 |
| IPO Close Date | Wednesday, August 5, 2020 |
| Basis of Allotment | Monday, August 10, 2020 |
| Initiation of Refunds | Tuesday, August 11, 2020 |
| Credit of Shares to Demat | Wednesday, August 12, 2020 |
| Listing Date | Thursday, August 13, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 5, 2020 |
Investors can bid for a minimum of 8000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8000 | ₹120,000 |
| Retail (Max) | 1 | 8000 | ₹120,000 |
| Lot Size Calculator | |||
Mr.Jatin Dhansukhlal Suratwala and Mr. Manoj Dhansukhlal Suratwala are the promoters of the company.
| Share Holding Pre Issue | 99.92% |
| Share Holding Post Issue | 73.42% |
Incorporated in 2008, Suratwwala Business Group Ltd is a real estate development company developing commercial and residential projects in Pune District. The company focusses on the development, sale, and maintenance business of properties. Suratwwala also provides the space on rent for banners, hoardings, and towers on buildings and unsold space for a particular time duration.
The company has completed one residential projet of 16 one BHK Apartments and one commercial project named Suratwwala Mark Plazzo - Phase I in Pune district. The company is working on Phase II of the commercial project.
A major portion of the revenue of the company is derived from the development of real estate projects. The project of the company includes both affordable housing and premium housing developments. For maintenance business, Suratwwala Business charges fees from the owners of the units of each project.
Competitive Strengths
1. Diversified Business Model
2. Strong presence in Pune district
3. Land identification capabilities and strong execution
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 31-March-20 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 5,390.82 | 4,487.52 | 3,129.14 | 2,752.49 | |
| Total Revenue | 1,088.35 | 912.62 | 1,119.91 | 1,657.82 | |
| Profit After Tax | 32.46 | 85.86 | 296.49 | 214.38 | |
The market capitalization of Suratwwala Business IPO is Rs 26.01 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 83 |
The company intends to utilise 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
[Dilip Davda] Financial data is very poor against asking price. The issue is exorbitantly priced. This sector is currently under pressure with declining demands. Considering all these parameters, there is no harm in giving this issue a miss. Read detail review...
The Suratwwala Business IPO is subscribed 1.31 times on August 5, 2020 6:49:02 PM. The public issue subscribed 0.28 times in the retail category, times in the QIB category, and 2.35 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.35 |
| Retail | 0.28 |
| Total | 1.31 |
| Listing Date | August 13, 2020 |
| BSE Script Code | 543218 |
| NSE Symbol | |
| ISIN | INB05ST01010 |
| Final Issue Price | ₹15 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹15.00 |
| ₹15.45 |
| ₹15.45 |
| ₹16.22 |
| ₹16.22 |
Suratwwala Business Group Ltd
S. No. 4/38, Sumangal, First Floor,
Sahakar Colony behind SBI, Off Karve Road,
Erandwane, Pune, 411004, Maharashtra
Phone: +91 020 25434392
Email: cs@suratwwala.co.in
Website: http://www.suratwwala.co.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: sbgl.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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Suratwwala Business IPO is a SME IPO of 4,600,000 equity shares of the face value of ₹10 aggregating up to ₹6.90 Crores. The issue is priced at ₹15 per share. The minimum order quantity is 8000 Shares.
The IPO opens on August 3, 2020, and closes on August 5, 2020.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Suratwwala Business IPO using UPI as a payment gateway. Zerodha customers can apply in Suratwwala Business IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Suratwwala Business IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Suratwwala Business IPO opens on August 3, 2020 and closes on August 5, 2020.
Suratwwala Business IPO lot size is 8000 Shares, and the minimum amount required is ₹120,000.
You can apply in Suratwwala Business IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Suratwwala Business IPO will be done on Monday, August 10, 2020, and the allotted shares will be credited to your demat account by Wednesday, August 12, 2020. Check the Suratwwala Business IPO allotment status.
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