Fixed Price IPO | ₹7 Cr | Listed at BSE SME | Mon, Aug 3, 2020 - Wed, Aug 5, 2020
Suratwwala Business Group IPO is a fixed price issue of ₹6.90 crores. The issue is entirely a fresh issue of 0.46 crore shares of ₹6.90 crore.
Suratwwala Business Group IPO bidding started from Aug 3, 2020 and ended on Aug 5, 2020. The allotment for Suratwwala Business Group IPO was finalized on Aug 10, 2020. The shares got listed on BSE SME on Aug 13, 2020.
Suratwwala Business Group IPO price is ₹15 per share. The lot size for an application is 8,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (8000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (16,000 shares), amounting to ₹2,40,000.
Hem Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Securities Ltd..
Refer to Suratwwala Business Group IPO RHP for detailed Information.
IPO Open
Mon, Aug 3, 2020
IPO Close
Wed, Aug 5, 2020
Issue Price
₹15 per share
Market Cap (Pre-IPO)
₹26.01 Cr
| IPO Date | 3 to 5 Aug, 2020 |
| Listed on | Thu, Aug 13, 2020 |
| Face Value | ₹10 per share |
| Issue Price | ₹15 per share |
| Lot Size | 8,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 46,00,000 shares (agg. up to ₹7 Cr) |
| Reserved for Market Maker | 2,40,000 shares Hem Securities Ltd. (agg. up to ₹0.3600 Cr) |
| Fresh Issue (Ex Market Maker) | 43,60,000 shares (agg. up to ₹7 Cr) |
| Net Offered to Public | 43,60,000 shares (agg. up to ₹7 Cr) |
| Share Holding Pre Issue | 1,27,41,644 shares |
| Share Holding Post Issue | 1,73,41,644 shares |
| BSE Script Code | 543218 |
| ISIN | INB05ST01010 |
Suratwwala Business Group IPO comprises a total issue size of 46,00,000 shares. The net offer to the public is 43,60,000 shares, after excluding 2,40,000 shares allotted on a firm basis. Of the Net offer 21,76,000 (49.91%) allocated to NII 21,84,000 (50.09%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 21,76,000 | 49.91% | 47.30% |
| Retail Shares Offered | 21,84,000 | 50.09% | 47.48% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,40,000 | 5.22% | |
| Total Shares Offered | 46,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 8,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8,000 | ₹1,20,000 |
| Retail (Max) | 1 | 8,000 | ₹1,20,000 |
| HNI (Min) | 2 | 16,000 | ₹2,40,000 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet Working Capital requirements | 5.60 |
| 2 | General Corporate Purpose | 0.61 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 83 | |
| Promoter Holding | 99.92% | 73.42% |
| Market Cap | ₹26.01 Cr. |
The Suratwwala Business IPO is subscribed 1.31 times on August 5, 2020 6:49:02 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.35 | 21,80,000 | 51,12,000 |
| Retail | 0.28 | 21,80,000 | 6,16,000 |
| Total | 1.31 | 43,60,000 | 57,28,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees | 0.24 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.03 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.04 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.03 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees*, Underwriting fees and Miscellaneous Expenses) | 0.35 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹15.00 |
| Open | ₹15.45 |
| Low | ₹15.45 |
| High | ₹16.22 |
| Last Trade | ₹16.22 |
Lead Manager Reports
Suratwwala Business Group IPO is a SME IPO of 46,00,000 equity shares of the face value of ₹10 aggregating up to ₹7 Crores. The issue is priced at ₹15 per share. The minimum order quantity is 8000.
The IPO opens on Mon, Aug 3, 2020, and closes on Wed, Aug 5, 2020.
MUFG Intime India Pvt.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 Group IPO using UPI as a payment gateway. Zerodha customers can apply in Suratwwala Business Group IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Suratwwala Business Group IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Suratwwala Business Group IPO opens on Mon, Aug 3, 2020 and closes on Wed, Aug 5, 2020.
Suratwwala Business Group IPO lot size is 8000, and the minimum amount required for application is ₹1,20,000.
You can apply in Suratwwala Business Group IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Suratwwala Business Group IPO will be done on Monday, August 10, 2020, and the allotted shares will be credited to your demat account by Wed, Aug 12, 2020. Check the Suratwwala Business Group IPO allotment status.
The Suratwwala Business Group IPO listing date is on Thu, Aug 13, 2020.
