Apeejay Surrendra Park Hotels Limited is engaged in the hospitality business operating under the brand names of “THE PARK“, “THE PARK Collection“, “Zone by The Park“, “Zone Connect by The Park” and “Stop by Zone“. The company is also engaged in the business of retail food and beverage industry through its retail brand ‘Flurys.
As of September 30, 2023, the company operates 81 restaurants, night clubs and bars, offering a wide selection of culinary experiences. The company has created award-winning brands such as Zen, Someplace Else, Tantra, Roxy, iBar, The Leather Bar, Pasha and Aqua.
The company currently operates 30 hotels, which are spread across different categories such as luxury boutique, upscale, and upper midscale. These hotels are present in various cities in India including Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, Mumbai, Coimbatore, Indore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Visakhapatnam, Port Blair, and Pathankot, offering a total of 2,298 rooms as of January 2024.
The company owns restaurants under the brand name of Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar.
As of June 2023, the company has a total of 1,923 employees.
Apeejay Surrendra Park Hotels IPO – Details
| IPO Opening Date | 05 February 2024 |
| IPO Closing Date | 07 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 5,93,54,838 Shares Worth ₹920 Crore Fresh Issue: 3,87,09,677 Shares Worth ₹600 Crore Offer For Sale: 2,06,45,161 Shares Worth ₹320 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹147 – ₹155 |
| Market Lot | 96 Shares |
| Min Order | 96 Shares |
| Discount | ₹7 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Apeejay Surrendra Park Hotels IPO – Date Schedule
| IPO Open Date | 05 February 2024 |
| IPO Close Date | 07 February 2024 |
| Basis of Allotment Date | 08 February 2024 |
| Initiation of Refund | 09 February 2024 |
| Credit of Shares to Demat Account | 09 February 2024 |
| IPO Listing Date | 12 February 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 07 February 2024 |
Apeejay Surrendra Park Hotels IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 96 | 14,880 |
| Retail (Max) | 13 | 1,248 | 1,93,440 |
| S-HNI (Min) | 14 | 1,344 | 2,08,320 |
| S-HNI (Max) | 67 | 6,432 | 9,96,960 |
| B-HNI (Min) | 68 | 6,528 | 10,11,840 |
Competitive Strengths
- The company has built successful hospitality brands through product innovation and service excellence to attract customer through a diversified and holistic offering.
- Company owned diversified Pan India portfolio, leased and managed hotels that are strategically located across metros and emerging cities.
- High occupancy rate and REVPAR with a strong financial and operational track record.
- High F&B and Entertainment contributions which adds to stable and non-cyclical earnings while complementing the hotel business.
- “Flurys” is an iconic brand with a successful and profitable track record of industry leading EBITDA margins.
- Dedicated and experienced leadership team with high standards of corporate governance.
Company Promoters
- Karan Paul
- Priya Paul
- Apeejay Surrendra Trust
- Great Eastern Stores Private Limited
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 190.29 | 262.02 | -75.88 | 593.44 |
| 31 March 2022 | 267.83 | 309.61 | -28.20 | 622.68 |
| 31 March 2023 | 524.43 | 458.96 | 48.06 | 566.88 |
Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | 0.99 |
| RoNW | 9.03% |
Object Of The Issue
- Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by the Company; and
- General corporate purposes.
Apeejay Surrendra Park Hotels IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Chalet Hotels Limited | 79.78 |
| 2 | 10 | Lemon Tree Hotels Limited | 92.34 |
| 3 | 1 | Indian Hotels Company Limited | 65.67 |
| 4 | 10 | EIH Limited | 56.59 |
| 5 | 10 | SAMHI Hotels Limited | – |
Apeejay Surrendra Park Hotels IPO Promoter Holding
| Pre Issue Share Holding | 94.18% |
| Post Issue Share Holding | 68.15% |
Apeejay Surrendra Park Hotels IPO Prospectus
Company Contact Information
| Apeejay Surrendra Park Hotels Limited 17, Park Street, kolkata – 700 016 Phone: +91 33 2249 9000 Email: investorrelations @asphl.in Website: https://www.theparkhotels.com/ |
Apeejay Surrendra Park Hotels IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: parkhotels.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Apeejay Surrendra Park Hotels IPO Lead Manager(s)
| 1. JM Financial Limited 2. ICICI Securities Limited 3. Axis Capital Limited |
Apeejay Surrendra Park Hotels IPO FAQs
| What is Apeejay Surrendra Park Hotels IPO? Apeejay Surrendra Park Hotels IPO is a main-board IPO. The issue is priced at ₹147 to ₹155 per equity share. The IPO is to be listed on BSE & NSE. |
| When Apeejay Surrendra Park Hotels IPO will open? The IPO is to open on 05 February 2024 for QIB, NII, and Retail Investors. |
| What is Apeejay Surrendra Park Hotels IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Apeejay Surrendra Park Hotels IPO? You can apply Apeejay Surrendra Park Hotels IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Apeejay Surrendra Park Hotels IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Apeejay Surrendra Park Hotel”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Apeejay Surrendra Park Hotels IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Apeejay Surrendra Park Hotels“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Apeejay Surrendra Park Hotels IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Apeejay Surrendra Park Hotels”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Apeejay Surrendra Park Hotels IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Apeejay Surrendra Park Hotels”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Apeejay Surrendra Park Hotels IPO Size? Apeejay Surrendra Park Hotels IPO size is ₹920.00 Crore. |
| What is Apeejay Surrendra Park Hotels IPO Price Band? Apeejay Surrendra Park Hotels IPO Price Band is ₹147 to ₹155. |
| What is Apeejay Surrendra Park Hotels IPO Minimum and Maximum Lot Size? The minimum bid is 96 Shares with ₹14,880 amount while the maximum bid is 1248 Shares with ₹193,440. |
| What is the Apeejay Surrendra Park Hotels IPO Allotment Date? Apeejay Surrendra Park Hotels IPO allotment date is 08 February 2024. |
| What is the Apeejay Surrendra Park Hotels IPO Listing Date? Apeejay Surrendra Park Hotels IPO listing date is 12 February 2024. The IPO is to list on BSE and NSE. |
