The Indian IPO market is gaining steam again. Earlier in July, Mindspace REIT announced to take the IPO route to raise funds from the market.
Over the last few years, the Indian stock market has emerged as a leading destination for companies to park their IPO offers. 2019 has seen significant growth in IPO launch from several top corporate like IRCTC, CSB Bank, Ujjivan Small Finance Bank, PrincePipe, India Mart, Rail Vikas Nigam, and many more. Compared to that the first half of 2020 was slow, mainly due to the pandemic outbreak that has sent the economy off track. Since March, after SBI Cards and Payment launched IPO shares, the market went on hibernation for almost four months. Suratwwala Business IPO will be the second for a real estate company, after Mindspace REIT, to hit the market with 46,00,000 equity shares in initial public offerings in 2020.
Suratwwala Business Group became operational in 2008, is a real estate development company with a focus in developing residential and office rent properties in Pune. The company is also involved in providing space for rent for purposes like mobile towers, hoardings and banners. So far, Suratwwala company has completed one residential and one commercial projects in Pune.
Things To Know Before Enrolling For Suratwwala Business IPO
Companies are floating IPO scrips to raise funds from the market to repair their financial status, dented by the COVID-19 outbreak. But before investing in any IPO shares, it is crucial to check the financials and performance of the company thoroughly.
- Suratwwala Business Group Ltd. IPO is going to be the size of Rs 6.90 crore of 46,00,000 equity shares
- The issue price will be in the band of Rs 15
- It is going to be a fixed price of IPO with a minimum lot size of 8000 equities, taking the minimum size of investment to Rs 120000
- The IPO will be available for subscription between August 3 and August 5
- After the initial public offering, the shareholding of the promoters will come down from 99.92 percent to 73.42 percent
- The company said in a declaration that they will utilise the funds to meet working capital requirements, general corporate purposes, and issue expenses
The Suratwwala Business IPO price looks attractive. Recently Mindspace REIT has launched IPOs, which experts think is an indication that there is still demand for commercial real estate leasing in India.
If you want to subscribe for Suratwwala Business IPO, you can now do it online. To apply for IPOs, you need a DEMAT account. Open a DEMAT today with Angel Broking, click here.
Once your DEMAT account gets activated, login into your account and then select the IPO offers you want to subscribe. If you get the allotment, the shares will get credited to your account directly.