IPO Details

Bidding Dates

29 Sep '25 - 01 Oct '25

Minimum Investment

₹2,66,400/2 Lots (2,400 Shares)

Price Range

₹105 to ₹111 per share

Maximum Investment

₹2,66,400/2 Lots (2,400 Shares)

Retail Discount

To be announced

Issue Size

₹75.47 Cr

Investor category and sub category

Retail Individual Investors (RII)   |   Non-institutional Investors (NII)   |   Qualified Institutional Buyer (QIB)   |  

Suba Hotels Ltd. IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Sep 29, 25

IPO Close Date

Oct 01, 25

Tentative Allotment

Oct 03, 25

Initiation of Refunds

Oct 06, 25

Credit of Shares to Demat

Oct 06, 25

Tentative Listing Date

Oct 07, 25

Cut-off time for UPI mandate confirmation

Oct 01, 25

About Suba Hotels Ltd

Suba Hotels is launching its ₹75.47 crore IPO, which is entirely a fresh issue of 68 lakh shares. The IPO will open for subscription on September 29, 2025, and close on October 1, 2025. The allotment of shares is expected to be finalized on October 3, 2025, with a tentative listing date set for October 7, 2025, on the NSE SME platform.

The price band for the IPO is fixed between ₹105 and ₹111 per share, with a lot size of 1,200 shares. For retail investors, the minimum investment required is ₹2,66,400 for 2 lots (2,400 shares), while HNI investors need to apply for at least 3 lots (3,600 shares), amounting to ₹3,99,600.

The IPO is managed by Unistone Capital Pvt. Ltd. as the book-running lead manager, Bigshare Services Pvt. Ltd. as the registrar, and NNM Securities Pvt. Ltd. as the market maker.

Suba Hotels Ltd. IPO Objectives 

  1. ₹53.48 crore will be used to upgrade hotels and provide last-mile funding for ongoing projects. The company plans to spend ₹21.39 crore in FY 2026 and ₹32.09 crore in FY 2027
  2. A portion of the funds will also go towards general corporate purposes, including business growth and operational needs, capped at 25% of the total IPO proceeds.
  3. The IPO aims to strengthen infrastructure and support the long-term expansion plans of Suba Hotels Ltd.

About Suba Hotels Ltd.

Suba Hotels is one of India’s leading mid-market hotel chains, operating across upscale, upper-midscale, midscale, and economy segments. The company primarily serves business, leisure, and religious travelers, offering quality service at competitive price points.

As of July 31, 2025, Suba Hotels has a strong presence with 88 operational hotels comprising 4,096 rooms across more than 50 cities. Around 81% of its hotels are located in emerging tier-2 and tier-3 cities, highlighting its focus on high-growth domestic markets.

The portfolio of Suba Hotels includes 5 owned hotels (227 rooms), 19 managed hotels (823 rooms), 16 revenue share & lease hotels (577 rooms), and 48 franchised hotels (2,469 rooms).

In addition, 40 hotels with 1,831 rooms are in the pre-opening phase, reflecting a robust growth pipeline and the company’s commitment to expanding its footprint in India’s mid-market hospitality sector.

Industry Outlook

  1. The hotel investment market recorded USD 340 million in transactions in 2024, led by HNIs, family offices, and private owners. This is fuelling the development and expansion of new hotels for tourists and business travellers.
  2. Pilgrimage destinations and adventure hotspots are seeing a rising influx of visitors, creating demand for accommodations ranging from budget hotels to premium resorts. Religious tourism is projected to grow from USD 202.85 billion (FY2024) to USD 441.19 billion by FY2032, while adventure tourism is expected to contribute USD 800 billion to India's GDP by 2047.
  3. Domestic travelers make up 95% of India’s tourism market. High domestic travel ensures steady occupancy rates, especially in leisure and short-stay segments, driving demand for hotels in cities, tourist towns, and regional destinations. 

How To Apply for the Suba Hotels Ltd. IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Suba Hotels Ltd. IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of Suba Hotels Ltd. IPO?

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

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

Contact Details of Suba Hotels Ltd. IPO

Registered office: Suba Hotels Ltd., Hotel Suba Star, Judges Bungalow Road, Near Akash Tower, Bodakdev, Ahmedabad, Gujarat, 380015 
Phone: +91-2266820707 
Email: compliance@subahotels.com

Suba Hotels Ltd. IPO Reservation

Investor Category

Shares Offered

QIB (Qualified Institutional Buyers)

Not more than 50% of the Net Issue

Retail Investors

Not less than 35% of the Net Issue

NII (Non-Institutional Investors)

Not less than 15% of the Net Issue

Suba Hotels Ltd. IPO Lot Size Details

Application

Lots

Shares

Amount (₹)

Individual Investors (Retail) (Min)

2

2,400

2,66,400

Individual Investors (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

Suba Hotels Ltd. IPO Promoter Holding

The promoters of the company are Click Hotels Private Limited, Mansur Mehta, and Mubeen Mehta.

Description

Percentage Holding

Promoter Holding (Pre-Issue)

84.69%

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue. 

Key Performance Indicators for Suba Hotels Ltd. IPO 

Particulars

FY 2024-25

FY 2023-24

FY 2022-23

Revenue from Operations Growth (%)

51.58

49.22

73.63

EBIDTA Growth (%)

67.76

58.59

114.24

PAT Growth (%)

69.13

221.88

94.96

Return on Equity (RoE) (%)

31.82

27.71

11.86

PAT Margin (%)

18.94

16.90

7.91

Suba Hotels Ltd. IPO Prospectus

Suba Hotels Ltd. IPO Registrar and Lead Managers

Suba Hotels Ltd. IPO Lead Managers

  • Unistone Capital Pvt.Ltd.

Registrar for Suba Hotels Ltd. IPO 

Bigshare Services Pvt.Ltd.

Financial Performance of Suba Hotels Ltd.

Particulars FY 2024-25 (₹ in lakhs) FY 2023-24 (₹ in lakhs) FY 2022-23 (₹ in lakhs)
Revenue from Operations 7,924.32 5,227.65 3,503.30
EBIDTA 2,327.12 1,387.18 874.69
Profit After Tax (PAT) 1,515.14 895.87 278.32
Reserves & Surplus 30.17 27.57 18.70
Net Worth 47.61 32.33 23.46

Know before investing

Strengths

5

  1. Strong presence: 88 hotels, 4,096 rooms, 40 under pre-opening, 81% in tier 2/3.

  2. Extensive reach: 65% hotels in untapped destinations, strong Tier 2/3 presence.

  3. Strong sales network: 30 executives, pan-India contracts, online bookings, and OTA partnerships.

  4. Proven ability to acquire, renovate, and rebrand hotels, boosting performance significantly.

  5. Gujarat remains the largest revenue contributor, generating ₹2,193.36 lakhs in FY2025.

Risks

5

  1. Owned hotels contribute 22.08% revenue; regional issues may adversely affect operations.

  2. Revenue share and lease hotels account for 45.63%; disruptions impact financial results.

  3. Corporate and leisure demand may decline due to telepresence, travel cost, habits.

  4. Lease non-compliance or renewal failure may hurt cash flows, business operations.

  5. Choice Hotels MFA contributes 9.97%; termination risks affect revenue and financial condition.

  • How to Apply in IPO
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Suba Hotels Ltd. Peer Comparison

Metrics Suba Hotels Limited Royal Orchids Hotels Limited Sayaji Hotels Limited
Revenue from Operations (₹ lakhs) 7,924.32 31,947.02 13,827.62
Basic EPS (₹) 8.69 17.32 1.18
P/E (based on Basic EPS) [●] 29.81 247.58
Return on Net Worth (%) 31.82 20.58 1.30
NAV per Equity Share (₹) 27.29 84.16 91.06

Suba Hotels Ltd. IPO FAQs

What is the Suba Hotels Ltd. IPO?

Suba Hotels Ltd. is launching an SME IPO via a book-building process to raise ₹75.47 crores by issuing fresh shares. 

What are the bidding dates of the Suba Hotels Ltd IPO?

The IPO opens on September 29, 2025, and closes on October 1, 2025. 

When will the Suba Hotels IPO allotment happen?

The basis of allotment is expected to be finalised on October 3, 2025. 

What is the minimum lot size for retail investors?

The lot size is 1,200 shares. Retail investors must apply for a minimum of 2 lots (2,400 shares), amounting to an investment of ₹2,66,400 at the upper price band. 

When will the IPO be listed?

The IPO is expected to be listed on the NSE SME platform on October 7, 2025. 

What would be the listing gains on the Suba Hotels IPO?

Listing gains cannot be predicted in advance. They depend on market demand, subscription levels, and overall investor sentiment on the listing day. 

When will I know if my Suba Hotels IPO order is placed?

You’ll receive a notification once your order is successfully submitted to the exchange after bidding begins. 

Who is the registrar for the Suba Hotels IPO?

The registrar is Bigshare Services Pvt.Ltd. They are responsible for allotment and investor grievance handling. 

Where is the Suba Hotels IPO getting listed?

The IPO will be listed on the NSE SME platform.