Suba Hotels Limited is a fast-growing domestic hotel chain in India’s mid-market hospitality sector. As of July 2025, the group operates 88 hotels with 4,096 keys across 50 cities, with a strong presence in tier 2 and tier 3 markets. To fuel its expansion, the company has 40 hotels in the pre-opening stage, which will add 1,831 rooms to its portfolio.
The brand caters to a wide customer base through a mix of upscale, upper-midscale, midscale, and economy hotels, offering both domestic and international experiences at competitive prices.
Suba Hotels follows a diversified business model with owned, managed, revenue-share & lease, and franchised properties. As of July 31, 2025, its portfolio includes:
- 5 owned hotels with 227 rooms
- 19 managed hotels with 577 rooms
- 14 revenue-share & lease hotels with 823 rooms
- 48 franchised hotels with 2,469 rooms
The company’s owned hotels are located in Ahmedabad, Bhuj, Junagadh, Vadodara (Gujarat), and Pithampur (Madhya Pradesh), strengthening its regional footprint while addressing the rising demand in underserved markets.
Suba Hotels IPO – Details
| IPO Opening Date | 29 September 2025 |
| IPO Closing Date | 01 October 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 67,99,200 Shares Worth ₹75.47 Crore Fresh Issue: 67,99,200 Shares Worth ₹75.47 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹105 to ₹111 per share |
| Market Lot | 1,200 Shares |
| Min Order | 1,200 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Bigshare Services Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Suba Hotels IPO – Date Schedule
| IPO Open Date | 29 September 2025 |
| IPO Close Date | 01 October 2025 |
| Basis of Allotment | 03 October 2025 |
| Initiation of Refund | 06 October 2025 |
| Credit of Shares to Demat | 06 October 2025 |
| IPO Listing Date | 07 October 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 01, 2025 |
Suba Hotels IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,66,400 |
| Retail (Max) | 2 | 2,400 | ₹2,66,400 |
| S-HNI (Min) | 3 | 3,600 | ₹3,99,600 |
| S-HNI (Max) | 7 | 8,400 | ₹9,32,400 |
| B-HNI (Min) | 8 | 9,600 | ₹10,65,600 |
Competitive Strengths
- One of India’s leading domestic hotel chains in the mid-scale sector with a differentiated business model.
- Wide geographical coverage.
- Established distribution network.
- Ability to acquire underperforming hotels and improve performance through renovation or rebranding.
- Experienced promoters and management team.
Company Promoters
- Click Hotels Private Limited
- Mansur Mehta and Mubeen Mehta
Company Financials (Standalone)
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹35.20 Cr | ₹51.17 Cr | ₹2.78 Cr | ₹46.09 Cr |
| 31 March 2024 | ₹53.00 Cr | ₹46.74 Cr | ₹8.96 Cr | ₹45.73 Cr |
| 31 March 2025 | ₹79.98 Cr | ₹41.51 Cr | ₹15.15 Cr | ₹50.23 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 31.82% |
| ROCE | 35.55% |
| Debt/Equity | 1.06 |
| RoNW | 31.82% |
| PAT Margin | 18.94% |
| EBITDA Margin | 29.09% |
| Price to Book Value | 4.07 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.69 | 6.25 |
| P/E (x) | 12.78 | 17.76 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding Capital Expenditure Requirements towards upgradation and last-mile funding of hotel premises. | ₹53.48 Cr |
| General Corporate Purposes | – |
✅Strengths
- 88 operational hotels with strong presence in tier 2 & 3 cities.
- Diversified portfolio across owned, managed, leased, and franchised models.
- 40 hotels in pipeline (1,831 rooms) for future growth.
- Experienced promoters and asset-light expansion strategy.
⚠️Risks
- Intense competition from domestic and global hotel chains.
- Regulatory dependence and licensing risks.
- Ongoing litigations and related party transactions.
- Cyclical industry, sensitive to economic downturns and travel disruptions.
Suba Hotels IPO Promoter Holding
| Pre Issue Share Holding | 84.69% |
| Post Issue Share Holding | – |
Suba Hotels IPO Prospectus
Company Contact Information
| Suba Hotels Ltd. Hotel Suba Star, Judges Bungalow Road Near Akash Tower Bodakdev Ahmedabad, Gujarat, 380015 Phone: +91-2266820707 Email: compliance@subahotels.com Website: https://www.subahotels.com/ |
Suba Hotels IPO Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Suba Hotels IPO Lead Manager(s)
| 1. Unistone Capital Pvt.Ltd. |
Suba Hotels IPO FAQ
| What is Suba Hotels IPO? Suba Hotels IPO is an SME IPO. The issue is priced at ₹105 – ₹111 per equity share. The IPO is to be listed on NSE SME. |
| When Suba Hotels IPO will open? The IPO is to open on 29 September 2025 for QIB, NII, and Retail Investors. |
| What is Suba Hotels IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Suba Hotels IPO Size? Suba Hotels IPO size is ₹75.47 Crore. |
| What is Suba Hotels IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 2400 Shares with ₹2,66,400 amount, while the maximum bid is 2400 Shares with ₹2,66,400. |
| What is the Suba Hotels IPO Allotment Date? Suba Hotels IPO allotment date is 03 October 2025. |
| What is the Suba Hotels IPO Listing Date? Suba Hotels IPO listing date is 07 October 2025. The IPO is to be listed on the NSE SME. |
