Fixed Price IPO | ₹29 Cr | Listed at BSE SME | Mon, Nov 1, 2021 - Mon, Nov 8, 2021
Suyog Gurbaxani Funicular IPO is a fixed price issue of ₹29.50 crores. The issue is a combination of fresh issue of 0.15 crore shares aggregating to ₹6.75 crores and offer for sale of 0.51 crore shares aggregating to ₹22.75 crores.
Suyog Gurbaxani Funicular IPO bidding started from Nov 1, 2021 and ended on Nov 8, 2021. The allotment for Suyog Gurbaxani Funicular IPO was finalized on Nov 11, 2021. The shares got listed on BSE SME on Nov 16, 2021.
Suyog Gurbaxani Funicular IPO price is ₹45 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,35,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,70,000.
Aryaman Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Aryaman Capital Markets Ltd..
Refer to Suyog Gurbaxani Funicular IPO RHP for detailed Information.
IPO Open
Mon, Nov 1, 2021
IPO Close
Mon, Nov 8, 2021
Issue Price
₹45 per share
Market Cap (Pre-IPO)
₹111.88 Cr
| IPO Date | 1 to 8 Nov, 2021 |
| Listed on | Tue, Nov 16, 2021 |
| Face Value | ₹10 per share |
| Issue Price | ₹45 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 65,55,000 shares (agg. up to ₹29 Cr) |
| Reserved for Market Maker | 3,33,000 shares Aryaman Capital Markets Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 11,67,000 shares (agg. up to ₹5 Cr) |
| Offer for Sale | 50,55,000 shares of ₹10 (agg. up to ₹23 Cr) |
| Net Offered to Public | 62,22,000 shares (agg. up to ₹28 Cr) |
| Share Holding Pre Issue | 2,33,62,222 shares |
| Share Holding Post Issue | 2,48,62,222 shares |
| BSE Script Code | 543391 |
| ISIN | INE07GA01011 |
Suyog Gurbaxani Funicular IPO comprises a total issue size of 65,55,000 shares. The net offer to the public is 62,22,000 shares, after excluding 3,33,000 shares allotted on a firm basis. Of the Net offer 31,11,000 (50.00%) allocated to NII 31,11,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 31,11,000 | 50.00% | 47.46% |
| Retail Shares Offered | 31,11,000 | 50.00% | 47.46% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,33,000 | 5.08% | |
| Total Shares Offered | 65,55,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,35,000 |
| Retail (Max) | 1 | 3,000 | ₹1,35,000 |
| HNI (Min) | 2 | 6,000 | ₹2,70,000 |
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:
| 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 | Repayment of loans | 5.00 |
| 2 | General Corporate Purposes | 1.37 |
The Suyog Gurbaxani Funicular Ropeways IPO is subscribed 1.27 times on November 8, 2021 5:50:00 AM (Day 4). 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)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.98 | 31,11,000 | 61,50,000 |
| Retail | 0.56 | 31,11,000 | 17,46,000 |
| Total | 1.27 | 62,22,000 | 78,96,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Offer Management fees including fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.39 |
| 2 | Brokerage and selling commission | 0.05 |
| 3 | Printing & Stationery, Distribution, Postage, etc. | 0.02 |
| 4 | Advertisement and Marketing Expenses | 0.02 |
| 5 | Stock Exchange Fees, Regulatory and other Expenses | 0.04 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹45.00 |
| Open | ₹45.45 |
| Low | ₹45.10 |
| High | ₹45.45 |
| Last Trade | ₹45.10 |
Lead Manager Reports
Suyog Gurbaxani Funicular IPO is a SME IPO of 65,55,000 equity shares of the face value of ₹10 aggregating up to ₹29 Crores. The issue is priced at ₹45 per share. The minimum order quantity is 3000.
The IPO opens on Mon, Nov 1, 2021, and closes on Mon, Nov 8, 2021.
Kfin Technologies Ltd. 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 IPO using UPI as a payment gateway. Zerodha customers can apply in Suyog Gurbaxani Funicular IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Suyog Gurbaxani Funicular IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Suyog Gurbaxani Funicular IPO opens on Mon, Nov 1, 2021 and closes on Mon, Nov 8, 2021.
Suyog Gurbaxani Funicular IPO lot size is 3000, and the minimum amount required for application is ₹1,35,000.
You can apply in Suyog Gurbaxani Funicular 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 Suyog Gurbaxani Funicular IPO will be done on Thursday, November 11, 2021, and the allotted shares will be credited to your demat account by Mon, Nov 15, 2021. Check the Suyog Gurbaxani Funicular IPO allotment status.
The Suyog Gurbaxani Funicular IPO listing date is on Tue, Nov 16, 2021.
