Apeejay Surrendra Park Hotels IPO Review – GMP, Financials and More

Apeejay Surrendra Park Hotels Limited is coming up with its Initial public offering. The IPO will be open for subscription on February 05, 2024

Apeejay Surrendra Park Hotels IPO Details

 

Apeejay Surrendra Park Hotels IPO Dates 5 – 7 Feb 2024
Apeejay Surrendra Park Hotels IPO Price INR 147 – 155 per share
Fresh issue INR 600 crore
Offer For Sale INR 320 crore
Total IPO size INR 920 crore
Minimum bid (lot size) 96 shares (INR 14,880)
Face Value  INR 1 per share
Retail Allocation 10%
Listing On BSE, NSE

Apeejay Surrendra Park Hotels IPO – Date Schedule

 

IPO Opening Date 05 February 2024
IPO Closing Date 07 February 2024
Finalization of Basis of Allotment 08 February 2024
Refunds Initiation 09 February 2024
Transfer of shares to demat accounts 09 February 2024
Listing Date of IPO 12 February 2024

 

Apeejay Surrendra Park Hotels IPO – About Company

 

Apeejay Surrendra Park Hotels Limited operates in the hospitality sector and manages various brands including “THE PARK,” “THE PARK Collection,” “Zone by The Park,” “Zone Connect by The Park,” and “Stop by Zone.” Additionally, the company is involved in the retail food and beverage industry through its brand ‘Flurys.’

As of September 30, 2023, the company oversees 81 establishments, comprising restaurants, nightclubs, and bars, providing diverse culinary experiences. Renowned brands like Zen, Someplace Else, Tantra, Roxy, iBar, The Leather Bar, Pasha, and Aqua have been developed by the company, earning accolades.

Presently, the company operates 30 hotels across various categories, including luxury boutique, upscale, and upper midscale. These hotels are situated in different Indian cities, such as 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 possesses restaurants with distinctive names like 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’s workforce comprises a total of 1,923 employees.

 

Financial Performance

FY 2021 FY 2022 FY 2023
Revenue 178.83 255.02 506.13
Expenses 262.02 309.62 458.96
Net income (75.88) (28.20) 48.06
Margin (%) (42.43) (11.06) 9.50

INR cr.

 

Valuations & Margins

 

FY 2021 FY 2022 FY 2023
EPS (4.34) (1.61) 2.75
PE ratio 53.45 – 56.36
RONW (%) (13.23) (5.40) 9.03
NAV 30.70 29.11 31.81
EBITDA (%) 12.01 21.76 33.77
Debt/Equity 1.09 1.21 0.99

 

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.

 

Object Of The Issue

 

  • Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by our Company.
  • General corporate purposes.

 

Apeejay Surrendra Park Hotels IPO GMP 

 

Date Day-wise IPO GMP Kostak Subject to Sauda
1 February 2024 30

 

Allotment Status

Apeejay Surrendra Park Hotels IPO allotment status will be available on the Link Intime’s website website. Click on this link to get allotment status.

Lots Size & Price

 

Application Lots Shares Amount ( Cut-Off)
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

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Disclaimer-The content presented here is intended solely for analytical and educational purposes. If you consider investing, it is strongly advised to conduct your own thorough research. We do not endorse or recommend any specific stocks or initial public offerings (IPOs).

 

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