Suyog Gurbaxani Funicular Ropeways Limited was established in 2010 by Mr. Rajkumar Gurbaxani, Mr. Omprakash Gurbaxani and Mr. Shivshankar Lature. The company operates in the construction and infrastructure development sector, with a focus on funicular ropeway systems.
About Suyog Gurbaxani Funicular Ropeways
Suyog Gurbaxani Funicular Ropeways Limited develops and operates funicular ropeway systems under a Build, Operate and Transfer (BOT) model. The company focuses on infrastructure projects that combine transportation facilities with supporting commercial and hospitality services.
One of its major projects is located at Saptashrungi Gad Temple in Vani, Nashik, Maharashtra. The project includes a funicular ropeway system, also known as an incline ropeway, designed to improve visitor transportation to the temple.
The ropeway project includes two air-conditioned funicular coaches. Together, they can transport up to 60 passengers at a time. In addition, the company developed a shopping centre with 50 stores and a parking facility that can accommodate more than 150 vehicles, including cars and two-wheelers.
Furthermore, the project includes a hotel with 28 guest rooms and dormitory facilities. Visitors can also access a multi-cuisine restaurant and coffee shop within the project area.
The overall project covers approximately 10 acres. Under the BOT arrangement, the company has operating rights over the project until 2034, after which the project is expected to be transferred to the Maharashtra government.
Suyog Gurbaxani Funicular Ropeways IPO Details
Suyog Gurbaxani Funicular Ropeways launched its IPO in November 2021 on the BSE SME platform. The issue had a fixed price of ₹45 per share and included both a fresh issue and an offer for sale.
| IPO Detail |
Information |
| IPO Opening Date |
1 November 2021 |
| IPO Closing Date |
8 November 2021 |
| Issue Price |
₹45 per share |
| Fresh Issue |
₹6.75 Crore |
| Offer for Sale |
₹22.75 Crore |
| Total Issue Size |
₹29.50 Crore |
| Lot Size |
3,000 Shares |
| Face Value |
₹10 per share |
| Listing Platform |
BSE SME |
Suyog Gurbaxani Funicular Ropeways IPO Market Lot
The minimum IPO application consisted of one lot containing 3,000 shares. At the issue price of ₹45 per share, one lot required an investment of ₹1,35,000.
| Category |
Lots |
No. of Shares |
Investment Amount |
| Minimum |
1 |
3,000 |
₹1,35,000 |
| Maximum |
1 |
3,000 |
₹1,35,000 |
Suyog Gurbaxani Funicular Ropeways Financial Performance
The following financial figures relate to the financial period ended 31 March 2021.
| Financial Particular |
Amount |
| Financial Period |
31 March 2021 |
| Total Assets |
₹861.96 Million |
| Total Revenue |
₹44.77 Million |
| Profit After Tax |
(₹79.34 Million) |
| EPS FY2021 |
(₹3.91) per share |
The company reported revenue of ₹44.77 million for the stated period. However, it recorded a loss after tax of ₹79.34 million, resulting in negative earnings per share of ₹3.91.
Suyog Gurbaxani Funicular Ropeways IPO Allotment Date & Schedule
The IPO allotment process followed the schedule below. Investors could check their application status through the IPO registrar’s online portal.
| IPO Event |
Date |
| Allotment Date |
11 November 2021 |
| Initiation of Refunds |
12 November 2021 |
| Transfer of Shares to Demat Accounts |
15 November 2021 |
| Listing Date |
16 November 2021 |
| Check Allotment Status |
Check IPO Allotment Status |
How to Check Suyog Gurbaxani Funicular Ropeways IPO Allotment?
Applicants could check their IPO allotment status online through KFintech, the registrar for the issue.
- Visit the KFintech IPO Status page.
- Select the relevant IPO from the available list.
- Enter the required application details.
- Submit the information to view the allotment status.
The result shows whether shares were allotted to the applicant. If no shares were allotted, the applicable refund process followed the IPO schedule.
Suyog Gurbaxani Funicular Ropeways IPO Review
Suyog Gurbaxani Funicular Ropeways operates in a specialised infrastructure segment focused on funicular ropeway systems. Its Saptashrungi project combines passenger transportation with commercial, parking and hospitality facilities.
However, investors should also consider the company’s historical financial performance. The company reported a loss after tax of ₹79.34 million for the financial period ended 31 March 2021.
Additionally, investors evaluating an SME IPO should consider project concentration, BOT concession terms, operating costs, debt requirements, liquidity and the company’s ability to generate sustainable cash flows.
Historical note: This IPO was launched in 2021. The information on this page is provided for historical and educational purposes and should not be treated as a current investment recommendation.
Suyog Gurbaxani Funicular Ropeways IPO Subscription Status
The Suyog Gurbaxani Funicular Ropeways IPO opened for subscription on 1 November 2021 and closed on 8 November 2021.
Check Suyog Gurbaxani (SGFRL) IPO Subscription Status
Suyog Gurbaxani Funicular Ropeways IPO GMP
Grey Market Premium (GMP) represents an unofficial premium for IPO shares in the grey market. Since the Suyog Gurbaxani Funicular Ropeways IPO was issued in 2021, any GMP figures associated with it should be treated as historical IPO-period information.
GMP is unofficial and does not represent a guaranteed listing price or investment return.
Check IPO GMP Details
Registrar of Suyog Gurbaxani Funicular Ropeways IPO
KFintech Private Limited acted as the registrar for the Suyog Gurbaxani Funicular Ropeways IPO.
KFintech, Tower-B, Plot No. 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana, India – 500032
Website: KFintech
Email: reachus@kfintech.com
Phone: 040-67162222, 040-79611000
Suyog Gurbaxani Funicular Ropeways Contact Details
Suyog Gurbaxani Funicular Ropeways Limited
18, Suyog Industrial Estate,
1st Floor, LBS Marg, Vikhroli West,
Mumbai – 400083
Phone: +91-22-2579 5516
Email: investor@sgfrl.com
Website: sgfrl.com
Suyog Gurbaxani Funicular Ropeways IPO Lead Manager
Aryaman Financial Services Limited acted as the lead manager for the Suyog Gurbaxani Funicular Ropeways IPO.
Frequently Asked Questions About Suyog Gurbaxani Funicular Ropeways IPO
When was the Suyog Gurbaxani Funicular Ropeways IPO listing date?
The Suyog Gurbaxani Funicular Ropeways IPO listing date was 16 November 2021.
When was the Suyog Gurbaxani Funicular Ropeways IPO allotment?
The IPO allotment date was 11 November 2021.
What was the Suyog Gurbaxani Funicular Ropeways IPO price?
The IPO issue price was ₹45 per share.
What was the Suyog Gurbaxani Funicular Ropeways IPO lot size?
The lot size was 3,000 shares.
How much did one lot of the IPO cost?
One lot contained 3,000 shares at ₹45 per share. Therefore, the application amount was ₹1,35,000.
What was the issue size of Suyog Gurbaxani Funicular Ropeways IPO?
The total issue size was ₹29.50 Crore, comprising a fresh issue of ₹6.75 Crore and an offer for sale of ₹22.75 Crore.
Who was the registrar of Suyog Gurbaxani Funicular Ropeways IPO?
KFintech Private Limited was the registrar for the IPO.
How could investors check the IPO allotment?
Applicants could check the allotment status through the KFintech IPO Status portal.
How could investors check the IPO subscription status?
Historical subscription data is available on the Suyog Gurbaxani IPO Subscription Status page.
What was the Suyog Gurbaxani Funicular Ropeways IPO GMP?
Any GMP information for this issue should be considered historical because the IPO was launched in November 2021. GMP is unofficial and should not be interpreted as a guaranteed listing price.
How could investors apply for an IPO through Zerodha?
At the time of the IPO, investors using Zerodha could access the IPO section through their account, select the relevant issue, enter the UPI ID and bid details, and approve the UPI mandate through their payment application.