IPO Details

Bidding Dates

05 Feb '24 - 07 Feb '24

Minimum Investment

₹14,880 / 1 Lots ( 96 Shares )

Price Range

₹147 - ₹155

Maximum Investment

₹193,440 / 13 Lots ( 1248 Shares )

Retail Discount

Not Applicable

Issue Size

₹920.00 Cr

Investor category and sub category

Qualified Institutions Buyers  |   Non-Institutional Buyers   |   Retail Investors   |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Feb 5, 2024

IPO Close Date

Feb 7, 2024

Basis of Allotment

Feb 8, 2024

Initiation of Refunds

Feb 9, 2024

Credit of Shares to Demat

Feb 9, 2024

IPO Listing Date

Feb 12, 2024

UPI mandate confirmation

Feb 7, 2024

IPO Subscription Details

DateQIBNIIRetailEMPTotal

Day 1Feb 5, 2024

 1.22x 2.46x 5.29x 0.61x 2.26x

IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions Buyers 1.22
Non-Institutional Buyers 2.46
Retail Investors 5.29
Employees 0.61
Total 2.26

About Apeejay Surrendra Park Hotels Ltd

Incorporated in 1987, Apeejay Surrendra Park Hotels Limited operates hotel chains. The company is the 8th largest hotel chain amongst hotel chains with asset ownership in India. The company operates hospitality assets under its brands, “THE PARK”, “THE PARK Collection”, “Zone by The Park”, “Zone Connect by The Park”, and “Stop by Zone”.

In addition, the company also operate 80 restaurants, night clubs and bars, offering a wide selection of culinary experiences as of March 31, 2023. For FY 2023, the sale of food and beverages, together with the sale of wine and liquor, contributed around 43.48%, 42.06% and 41.93% of its total income. This indicates the strength of its food, beverage, and entertainment offerings. 

Increased individual salaries will likely result in more discretionary expenditure, providing meaningful growth to the hotel business, especially if supply expands in tier 2 and tier 3 areas. With its THE PARK (TPH) hotels in all major cities and several other important markets, as well as the expansion of Zone by The Park (ZTP) and Zone Connect hotels throughout numerous markets at upper-midscale positioning, Apeejay Surrendra Park Hotels Limited (ASPHL) will probably also benefit from this.

Apeejay Surrendra Park Hotels Limited Details

Apeejay Surrendra Park Hotels Limited Date

Retail investors can bid for the Apeejay Surrendra Park Hotels Limited. The issue date has not been announced yet.

Apeejay Surrendra Park Hotels Limited Price Band

Apeejay Surrendra Park Hotels Limited is a fresh issue IPO of ₹650 crore and an Offer for Sale of ₹400 crore shares. It is a book-building issue. The price range has not been announced yet.

Apeejay Surrendra Park Hotels Limited Lot Size

The lot size and minimum investment of Apeejay Surrendra Park Hotels Limited will be announced later.

Apeejay Surrendra Park Hotels Limited Objectives 

The objectives of Apeejay Surrendra Park Hotels Limited are listed below:

  • Repayment and/or prepayment, in part or in full, of certain outstanding loans taken by the company.
  • For general corporate purposes. 

Peer Details

As per DRHP, there are 4 listed peers whose business portfolio is comparable to the company:

  1. Chalet Hotels Limited.
  2. Lemon Tree Hotels Limited. 
  3. Indian Hotels Company Limited.
  4. EIH Limited.

How To Check the Allotment Status of the Apeejay Surrendra Park Hotels Limited?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Apeejay Surrendra Park Hotels Limited

Registered office: 17 Park Street, Kolkata – 700 016, West Bengal, India

Phone: +91 33 22499000

E-mail: investorrelations@asphl.in

Company Financials

Particulars Year ending on March 31, 2023 ( ₹ Million ) Year ending on March 31, 2022 ( ₹ Million ) Year ending on March 31, 2021 ( ₹ Million )
Total Income 5,244.30 2,678.30
Profit After Tax (PAT) 480.62 282.02 758.84
Total Borrowings 5,668.80 6,226.79 5,934.40
Cash & Cash Equivalents 165.70 85.40 97.50

Know before investing

Strengths

3

  1. The company maintained an increasing trend of average occupancy to 91.77% in FY 2023, from 67.26% in FY 2021. This showcases decent business resilience as average occupancy is considered a significant catalyst to investigate business health in the hotel industry.

  2. The company possesses the capacity to attract more customers as it operates a diversified pan-India portfolio of owned, leased and managed hotels strategically located across metros and emerging cities.

  3. The company will continue to focus on the development of existing land banks and strategic allocation of capital as part of its strategy to grow through an optimum mix of owned, leased/licensed hotels and asset-light contracts.

Risks

3

  1. The company derives ~75% of its total revenue from its top 5 hotels. Any adverse change in those localities could hamper the business growth.

  2. The company’s business could be affected by the variations in seasonal and cyclical activities impacting its operating results and cash flows.

  3. The company generates a significant portion of its room revenue from corporate accounts and leisure customers. Any changes in travellers’ preferences due to increased use of telepresence equipment, cost of travel, spending habits, and other factors may affect the demand for hotel rooms.

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Apeejay Surrendra Park Hotels Ltd IPO FAQs

What is Apeejay Surrendra Park Hotels Limited's IPO?

Apeejay Surrendra Park Hotels Limited is a fresh issue of ₹650 Crore and an offer for sale of ₹400 crore. It is a book-building issue.  

When will Apeejay Surrendra Park Hotels Limited's IPO be allotted?

The Basis of Allotment will be on a date that has not been announced yet.

When will Apeejay Surrendra Park Hotels Limited's IPO open for subscription?

The IPO subscription window will open on a date that has not been announced yet.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which is a size that has not been announced yet.

When will Apeejay Surrendra Park Hotels Limited list on exchanges?

Apeejay Surrendra Park Hotels Limited will be listed on BSE and NSE. The date of listing has not been announced yet.

How do I check the allotment status of the Apeejay Surrendra Park Hotels Limited?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on the Apeejay Surrendra Park Hotels Limited?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Apeejay Surrendra Park Hotels Limited, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.