Suyog Gurbaxani Funicular Ropeways Limited IPO Detail

Incorporated in 2010, Suyog Gurbaxani Funicular Ropeways Limited is an infrastructure development & constructions company engaged in building & operating the Funicular Ropeways Systems. The company currently employs a Build, Operate, and Transfer Mode (BOT) for its business operations.

They have completed the construction of a Funicular Ropeway System project (also known as Incline Ropeways) at Saptashrungi Gad Temple situated at Vani, Nashik, Maharashtra. The project consists of a Funicular Ropeway System consisting of 2 Air Conditioner funicular vehicles/coaches which can carry 60 passengers at a time. A shopping mall with 50 shops, along with a parking lot with a capacity of more than 150 vehicles including four-wheelers and two-wheelers has also been constructed. In this project, the company also constructed a hotel with 28 guest rooms & dormitories, a multi-cuisine restaurant, and a coffee shop. The project spreads over an area of approximately 10 acres. The possession of this project is available with the company till 2034, after which it will be handed over to the Government of Maharashtra.

As of March 31, 2021, the company employs 205 people, including Key Managerial Personnel, Executive Directors, employees in head office, and employees at our Saptashrungi Gad temple project. They also hire casual and temporary contract labor from time to time.