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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
Company Promoters:
Mr.Jatin Dhansukhlal Suratwala and Mr. Manoj Dhansukhlal Suratwala are the promoters of the company.
Company Financials:
| Particulars | For the year/period ended (₹ 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 | |
Objects of the Issue:
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
Suratwwala Business IPO Details
| IPO Date | Aug 3, 2020 – Aug 5, 2020 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | 4,600,000 Eq Shares of ₹10 (aggregating up to ₹6.90 Cr) |
| Face Value | ₹10 per equity share |
| IPO Price | ₹15 per equity share |
| Market Lot | 8000 Shares |
| Min Order Quantity | 8000 Shares |
| Listing At | BSE SME |
| P/E (x) | 83 |
| Market Cap (₹ Cr.) | 26.01 |
Suratwwala Business IPO Tentative Date / Timetable
| Bid/Offer Opens On | Aug 3, 2020 |
| Bid/Offer Closes On | Aug 5, 2020 |
| Finalisation of Basis of Allotment | Aug 10, 2020 |
| Initiation of Refunds | Aug 11, 2020 |
| Credit of Shares to Demat Acct | Aug 12, 2020 |
| IPO Shares Listing Date | Aug 13, 2020 |
Suratwwala Business IPO Lot Size and Price (Retail)
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 8000 | ₹120,000 |
| Maximum | 1 | 8000 | ₹120,000 |
Suratwwala Business IPO Promoter Holding
| Pre Issue Share Holding | 99.92% |
| Post Issue Share Holding | 73.42% |