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Suyog Gurbaxani Funicular Ropeways Limited IPO (Suyog Gurbaxani Funicular Ropeways IPO) Detail

Nov 1, 2021 - Nov 8, 2021

Incorporated in 2010, Suyog Gurbaxani Funicular Ropeways Limited is an infrastructure development & constructions company engaged in building & operating the Funicular Ropeways Systems. The company currently employs a Build, Operate, and Transfer Mode (BOT) for its business operations.

They have completed the construction of a Funicular Ropeway System project (also known as Incline Ropeways) at Saptashrungi Gad Temple situated at Vani, Nashik, Maharashtra. The project consists of a Funicular Ropeway System consisting of 2 Air Conditioner funicular vehicles/coaches which can carry 60 passengers at a time. A shopping mall with 50 shops, along with a parking lot with a capacity of more than 150 vehicles including four-wheelers and two-wheelers has also been constructed. In this project, the company also constructed a hotel with 28 guest rooms & dormitories, a multi-cuisine restaurant, and a coffee shop. The project spreads over an area of approximately 10 acres. The possession of this project is available with the company till 2034, after which it will be handed over to the Government of Maharashtra.

As of March 31, 2021, the company employs 205 people, including Key Managerial Personnel, Executive Directors, employees in head office, and employees at our Saptashrungi Gad temple project. They also hire casual and temporary contract labor from time to time.


Competitive Strengths:

  • In-house capabilities to provide end-to-end solutions for BOT Ropeway projects.
  • Goodwill with various leading banks and financial institutions for raising funds.
  • Cordial relationship with various departments of Government Maharashtra.
  • Experienced management.
  • Efficient Business Model.
  • Focus on promotion of tourism.

Company Financials

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in Millions)
  30-Jun-21 31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 843.12 861.96 887.12 941.05
Total Revenue 0.01 44.77 131.92 79.06
Profit After Tax (23.22) (79.34) (18.81) (34.84)

Objects of the Issue

The net proceed from the IPO will be utilized towards the following purposes;

  • Repayment of loans
  • Funding expenditure for general corporate purposes

Suyog Gurbaxani Funicular Ropeways IPO Details

Suyog Gurbaxani Funicular Ropeways IPO Date Nov 1, 2021 to Nov 8, 2021
Suyog Gurbaxani Funicular Ropeways IPO Face Value ₹10 per share
Suyog Gurbaxani Funicular Ropeways IPO Price ₹45 per share
Suyog Gurbaxani Funicular Ropeways IPO Lot Size 3000 Shares
Issue Size6,555,000 shares of ₹10
(aggregating up to ₹29.50 Cr)
Fresh Issue1,500,000 shares of ₹10
(aggregating up to ₹6.75 Cr)
Offer for Sale5,055,000 shares of ₹10
(aggregating up to ₹22.75 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Company Promoters

Mr. Rajkumar Gurbaxani, Mr. Omprakash Gurbaxani and Shivshankar Lature are the company promoters.

Suyog Gurbaxani Funicular Ropeways IPO Timeline (Tentative Timetable)

Suyog Gurbaxani Funicular Ropeways IPO opens on Nov 1, 2021, and closes on Nov 8, 2021. The Suyog Gurbaxani Funicular Ropeways IPO bid date is from Nov 1, 2021 10.00 A.M. to Nov 8, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Suyog Gurbaxani Funicular Ropeways IPO Opening Date Nov 1, 2021
Suyog Gurbaxani Funicular Ropeways IPO Closing Date Nov 8, 2021
Basis of Allotment Nov 11, 2021
Initiation of Refunds Nov 12, 2021
Credit of Shares to Demat Nov 15, 2021
Suyog Gurbaxani Funicular Ropeways IPO Listing Date Nov 16, 2021

Suyog Gurbaxani Funicular Ropeways IPO Lot Size

The Suyog Gurbaxani Funicular Ropeways IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹135,000).

Application Lots Shares Amount
Retail (Min) 1 3000 ₹135,000
Retail (Max) 1 3000 ₹135,000

Suyog Gurbaxani Funicular Ropeways IPO Promoter Holding

Pre Issue Share Holding 90.57%
Post Issue Share Holding 64.78%

Suyog Gurbaxani Funicular Ropeways IPO Review

SGFR has shown negative earnings for the last 39 months working. It also has hugely carried forward losses resulting in its NAV below par at Rs. 3.31. Simply stay away from such a loss-making company and save your money. Read detail review...


Suyog Gurbaxani Funicular Ropeways IPO Subscription Status (Bidding Detail)

The Suyog Gurbaxani Funicular Ropeways IPO is subscribed 1.27 times on Nov 8, 2021 5:50:00 AM. The public issue subscribed 0.56 times in the retail category, times in the QIB category, and 1.98 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII1.98
Retail0.56
Total1.27

Suyog Gurbaxani Funicular Ropeways IPO Prospectus

Suyog Gurbaxani Funicular Ropeways IPO Rating

32
3.3
Rating:Rated 3.3 stars
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Suyog Gurbaxani Funicular Ropeways IPO Listing Date

Listing Date Tuesday, November 16, 2021
BSE Script Code 543391
NSE Symbol
Listing In MT Group of Securities
ISIN INE07GA01011
IPO Price ₹45 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹45.00
₹45.45
₹45.10
₹45.45
₹45.10

Company Contact Information

Suyog Gurbaxani Funicular Ropeways Limited
18, Suyog Industrial Estate,
1st Floor, LBS Marg, Vikhroli West,
Mumbai – 400 083
Phone: +91 – 22 – 2579 5516
Email: investor@sgfrl.com
Website: http://sgfrl.com/

Suyog Gurbaxani Funicular Ropeways IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: sgfrl.ipo@kfintech.com
Website: https://karisma.kfintech.com/

Suyog Gurbaxani Funicular Ropeways IPO Review

Suyog Gurbaxani Funicular Ropeways IPO Recommendation Summary

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Members 0 0 0

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Suyog Gurbaxani Funicular Ropeways IPO FAQs

Suyog Gurbaxani Funicular Ropeways IPO is a SME IPO of 6,555,000 equity shares of the face value of ₹10 aggregating up to ₹29.50 Crores. The issue is priced at ₹45 per share. The minimum order quantity is 3000 Shares.

The IPO opens on Nov 1, 2021, and closes on Nov 8, 2021.

KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Suyog Gurbaxani Funicular Ropeways IPO using UPI as a payment gateway. Zerodha customers can apply in Suyog Gurbaxani Funicular Ropeways IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Suyog Gurbaxani Funicular Ropeways IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Suyog Gurbaxani Funicular Ropeways IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Suyog Gurbaxani Funicular Ropeways IPO opens on Nov 1, 2021 and closes on Nov 8, 2021.

Suyog Gurbaxani Funicular Ropeways IPO lot size is 3000 Shares and the minimum order quantity is .

You can apply in Suyog Gurbaxani Funicular Ropeways 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Suyog Gurbaxani Funicular Ropeways IPO will be done on Nov 11, 2021, and the allotted shares will be credited to your demat account by Nov 15, 2021. Check the Suyog Gurbaxani Funicular Ropeways IPO allotment status.

The Suyog Gurbaxani Funicular Ropeways IPO listing date is on Tuesday, November 16, 2021.
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Suyog Gurbaxani Funicular Ropeways IPO Message Board

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16 Comments

13. JagdishBose |   Link |Dec 15, 2021 7:55:25 PM
They are simple metro service type company na? And only one place???

And you can only use for darshan and not for proper traveling. And it is like essel world ride for kids you can go up and come down, slowly.
12. Sanvi |   Link |Nov 15, 2021 11:17:32 AM
One Word- Avoid
11. Blick |   Link |Oct 29, 2021 11:09:27 AM
I am waiting for Nov 8 and I want to laugh at the idiots who apply for this IPO.
10. Amit Das |   Link |Oct 28, 2021 8:42:40 PM
ये भाई, ज़रा देख के चलो। आगे ही नहीं, पीछे भी। ये सब घाटे का पैसा खरीदेंगे तो फिर एक दिन रास्ते पर भीख मांगते घुमेंगे फिरेंगे, हम सब गिर कर एक बार और मारे (स्वर्गवास) (हो) जायेंगे।
9. Blick |   Link |Oct 28, 2021 3:32:36 PM
The promoters are drunk .. they should be slapped and woken up to reality. The price for the stock at this equity should be 5 rupees considered to the 45.
8. sacebdkg |   Link |Oct 28, 2021 10:34:29 AM
Do consider applying to this one and hold long term if you want to learn hard way how money vanishes in market.. Lol ;)
7. Arca |   Link |Oct 28, 2021 8:06:26 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
If this ipo gets fully subscribed nothing could be more stupid than this.
7.1. Blick |   Link |Oct 28, 2021 9:42:24 AM
They shouldn''t get a single applicant. That would be fair.
6. Blick |   Link |Oct 27, 2021 2:58:18 PM
Hahaha this IPO is a rip off. The valuation is 100 crores for a company with Revenues of 4 crores and terrible loses.

FURTHER THE PROMOTER IS SELLING HIS SHARE AT 5X THE AMOUNT THEY PUT IN THE COMPANY.

BSE should NOT allow such IPO.
6.1. KDKing🤴 |   Link |Oct 27, 2021 6:13:29 PM
IPO Guru IPO Guru (1200+ Posts, 1300+ Likes)
LM also should keep some distance from such promoters.
5. KDKing🤴 |   Link |Oct 27, 2021 6:12:10 PM
IPO Guru IPO Guru (1200+ Posts, 1300+ Likes)
What kind of Promoters are they?,
the company is loss-making
SME IPO and came with OFS
The objective of the fresh issue is Funding expenditure on promoters life style.
4. MR. PATEL |   Link |Oct 27, 2021 4:46:43 PM
One word review- Kachra
3. Blick |   Link |Oct 27, 2021 3:21:15 PM
One word: SCAM
2. lokes |   Link |Oct 27, 2021 3:09:12 PM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
More losses than revenue.....strange!!!
1. Arca |   Link |Oct 27, 2021 1:17:03 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
Better to skip this one , loss making company coming @45 per share where NAV is <4 and eps is -4 . Even Rs 10 is high for this company. Listing can be whatever but simply no future for the company.
1.1. papon |   Link |Oct 27, 2021 2:14:42 PM
Top Contributor Top Contributor (400+ Posts, 400+ Likes)
Following zomato way. All loss making companies.