Suyog Gurbaxani Funicular Ropeways Limited
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Suyog Gurbaxani Funicular Ropeways Limited's has transitioned to a publicly listed entity following its IPO debut on Nov 16, 2021 at the BSE exchange. The public offering successfully raised 65,55,000 Shares, consisting of 11,67,000 Sharesin new capital and ₹22.75 Cr in existing shareholder sales.
The IPO featured a competitive price range of ₹45 to ₹45 and minimum application size of 3000 shares. Market reception was evidenced through subscription activity between Nov 01, 2021 and Nov 08, 2021, reflecting investor appetite for the offering.
Allotment of shares was completed on Nov 11, 2021, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 2010, Suyog Gurbaxani Funicular Ropeways Limited is an infrastructure company that designs, builds, and operates Funicular Ropeway Systems using a Build, Operate, and Transfer (BOT) model. The company has completed a project at Saptashrungi Gad Temple in Nashik, Maharashtra, which includes a ropeway system with two air-conditioned coaches carrying 60 passengers each, a shopping mall with 50 shops, parking for over 150 vehicles, a 28-room hotel, a multi-cuisine restaurant, and a coffee shop, spread over 10 acres. The company holds possession of this project until 2034, after which it will be transferred to the Government of Maharashtra. As of March 31, 2021, Suyog Gurbaxani employs 205 people, including managerial staff and project employees, and also hires temporary labor as needed.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- End-to-End Solutions: Provides complete in-house capabilities for BOT Ropeway projects.
- Strong Financial Relationships: Trusted by leading banks and financial institutions for funding.
- Government Connections: Maintains cordial ties with various Maharashtra government departments.
- Experienced Management: Led by a skilled and capable team.
- Efficient Business Model: Optimized for smooth operations and profitability.
- Tourism Focus: Dedicated to promoting tourism through projects.
NA
- Mr. Rajkumar Gurbaxani,
- Mr. Omprakash Gurbaxani
- Shivshankar Lature
Suyog Gurbaxani Funicular Ropeways Limited
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