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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:

Summary of financial Information (Restated)
ParticularsFor the year/period ended (₹ in Lakhs)
Total Assets5,390.824,487.523,129.142,752.49
Total Revenue1,088.35912.621,119.911,657.82
Profit After Tax32.4685.86296.49214.38

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 DateAug 3, 2020 – Aug 5, 2020
Issue TypeFixed Price Issue IPO
Issue Size4,600,000 Eq Shares of ₹10
(aggregating up to ₹6.90 Cr)
Face Value₹10 per equity share
IPO Price₹15 per equity share
Market Lot8000 Shares
Min Order Quantity8000 Shares
Listing AtBSE SME
P/E (x)83
Market Cap (₹ Cr.)26.01

Suratwwala Business IPO Tentative Date / Timetable

Bid/Offer Opens OnAug 3, 2020
Bid/Offer Closes OnAug 5, 2020
Finalisation of Basis of AllotmentAug 10, 2020
Initiation of RefundsAug 11, 2020
Credit of Shares to Demat AcctAug 12, 2020
IPO Shares Listing DateAug 13, 2020

Suratwwala Business IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)

Suratwwala Business IPO Promoter Holding

Pre Issue Share Holding99.92%
Post Issue Share Holding73.42%