Apeejay Surrendra Park Hotels Limited
Book Built Issue IPO · NSE, BSE
- Price band
- ₹147 - ₹155
- Lot size
- 96 shares
- Issue amount
- ₹920 cr
- Total subscription
- 62.9×
- Opens
- 5 Feb 2024
- Closes
- 7 Feb 2024
- Allotment
- 8 Feb 2024
- Listing
- 12 Feb 2024
Offer at a glance
Issue overview
- Issue size
- 5,93,54,838 shares
- Face value
- ₹1 Per Equity Share
- Minimum investment
- ₹14,112
- Fresh issue
- ₹600 cr
- Offer for sale
- ₹320 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,880
- Issue type
- Book Built Issue IPO
- Shares before issue
- 17,46,61,760
- Shares after issue
- 21,33,71,437
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 96 | ₹14,880 |
| sHNI | 14 | 1,344 | ₹2,08,320 |
| bHNI | 68 | 6,528 | ₹10,11,840 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| — | — |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 273 | 21,629.23 |
| RETAIL | 91 | 2,912.2 |
| HNIs 2+ | 45.5 | 1,941.82 |
| HNIs 10+ | 91 | 5,601.03 |
| EMPLOYEES | 10.5 | 59.99 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Values |
|---|---|
| EPS | 2.75 |
| ROE | 0 |
| ROCE | 0 |
| RONW | 9.03 |
| PRE IPO(PE) | 0 |
| POST IPO(PE) | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Apeejay Surrendra Park Hotels Limited, founded in 1987, is a prominent hospitality company known for its portfolio of brands such as THE PARK, THE PARK Collection, Zone by The Park, Zone Connect by The Park, and Stop by Zone, along with the popular Flurys brand in the retail food and beverage segment. As of March 31, 2023, it operates 80 restaurants, nightclubs, and bars, and manages 27 hotels across luxury boutique, upscale, and upper midscale categories in major cities like Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, Mumbai, Goa, and Jaipur, offering a total of 2,111 rooms as of August 2023. The company also runs several renowned restaurants including Zen, Lotus, Aish, Saffron, Fire, Italia, The Bridge, and Bazaar. With a workforce of 1,923 employees as of June 2023, the company continues to deliver strong hospitality, dining, and entertainment experiences across all its brands.
Strengths
- Diverse hotel portfolio: Operates owned, leased, and managed hotels across India, ensuring wide market reach and multiple revenue streams.
- Strong financial and operational track record: Demonstrates stability, efficiency, and consistent performance across business units.
- Reliable F&B and entertainment income: These segments generate steady earnings and strengthen overall business profitability.
- Profitable Flurys brand: Delivers strong EBITDA margins, showcasing the company’s ability to build successful and high-performing brands.
- Experienced leadership team: Ensures high governance standards, strategic decision-making, and long-term growth.
Risk factors
- Past financial losses: Raise concerns about the company’s ability to consistently generate profits and maintain long-term stability.
- Unclear property ownership: Some mortgaged hotel assets lack title deeds in the company’s name, creating risks of ownership disputes and operational hurdles.
- Project development delays: Slow progress in hotel development and land banks may increase costs and negatively impact future revenue plans.
- Revenue concentration risk: A significant portion of income depends on a few high-performing hotels, making the company vulnerable to competition or regulatory changes in those locations.
Promoters
Karan Paul
Priya Paul
Apeejay Surrendra Trust
Great Eastern Stores Private Limited
Registrar & documents
Lead manager
Jm Financial Limited, ICICI Securities Limited, Axis Capital Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
17, Park Street, kolkata 700 016
+91 33 2249 9000
investorrelations @asphl.inCompany website ↗Understanding PARKHOTELS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.