Apeejay Surrendra Park Hotels IPO Details
Issue Date
05 Feb - 7 Feb'24
Price Range
₹147 - ₹155
Lot Size
96
IPO Size
₹920.47 Cr
Apeejay Surrendra Park Hotels IPO Listing Details
Listing On
12 Feb'24
Issue Price
₹155
Listed Price
₹ 186
Retail Gain/Listing Gain
▲20.00%
Schedule of Apeejay Surrendra Park Hotels IPO
Start date
05/02/2024
End date
07/02/2024
Allotment of bids
Refund Initiation
09/02/2024
Listing on exchange
12/02/2024
Company Background
Among hotel chains with asset ownership, Apeejay Surrendra Park Hotels Limited ranks as the eighth largest in India regarding chain-affiliated hotel rooms inventory as of September 30, 2023 (Source: Horwath HTL Report).
With a long-standing expertise of over 55 years in the hospitality business of owning and operating hotels, the company operates hospitality assets under their brand names, “THE PARK,” “THE PARK Collection,” “Zone by The Park,” “Zone Connect by The Park” and “Stop by Zone.”
Competitive Strengths
Successful hospitality brands through product innovation and service excellence
Apart from being a prominent player in the hospitality industry, the company has successfully created iconic brands as part of its food, beverage, and entertainment offerings, and has accumulated awards for its restaurants such as the “Best Pan Asian – Premium Food Delivery” presented to Lotus at the Times Food & Nightlife Awards in 2022, the “Best World Cuisine – Premium Dining” presented to 6 O 1 at the Times Food & Nightlife Awards in 2021, the “Best Night Club” award presented to Pasha at the Times Food & Nightlife Awards in 2021, among many more.
High occupancy rate and REVPAR with a strong financial and operational track record
The company has a strong operating track record of high occupancy, competitive average room rates and RevPAR for its hotel properties, during six months ended September 30, 2023 and September 30, 2022 and in last three Fiscals. They have achieved an average occupancy level of 92.76%, 91.50% and 91.55% for its owned hotels for the six months ended September 30, 2023 and September 30, 2022 and the year ended March 31, 2023, respectively.
A diversified Pan India portfolio of owned, leased and managed hotels that are strategically located across metros and emerging cities
The company operates 30 hotels across upscale to upper midscale category, with a pan-India presence representing 2,298 rooms. They have grown the business geographically with the opening of 13 managed and leased hotels in the last 3 years, adding 686 rooms to the total portfolio.
Risk Factors
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The company is exposed to risks associated with the delay in development of hotel properties and land banks.
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The company is exposed to risks associated with the construction and development of serviced apartments.
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The company is not in compliance with certain financing agreements from the past and had delays in repayment of certain long-term rupee loans and working capital loans.
Key Strategies
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Continued focus on the development of existing land banks and strategic allocation of capital.
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Optimise capital efficiency.
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Improving operational efficiency to achieve superior performance.
Apeejay Surrendra Park Hotels Ltd Key Financials
Here are the key financials for Apeejay Surrendra Park Hotels Ltd:
How to apply for IPO through ASBA
Kotak Neo
•4m 01s
How To Apply for Apeejay Surrendra Park Hotels Ltd IPO?
Here are the steps to apply for Apeejay Surrendra Park Hotels Ltd IPO:
Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Apeejay Surrendra Park Hotels IPO FAQs
The Apeejay Surrendra Park Hotels IPO opens for subscription from 05-02-2024 to 07-02-2024, with a total issue size of ₹920.47 Cr. The IPO price band is ₹147 to ₹155 per share with a lot size of 96. The company aims to list the shares on BSE & NSE on 12-02-2024.
The Apeejay Surrendra Park Hotels IPO will open for subscription on 05-02-2024 and will close on 07-02-2024 for investors.
The minimum lot size for the Apeejay Surrendra Park Hotels IPO is 96 equity shares, requiring a minimum investment of ₹14880 for retail investors applying in the IPO.
The price band of the Apeejay Surrendra Park Hotels IPO has been fixed at ₹147 to ₹155 per equity share.
You can apply for the Apeejay Surrendra Park Hotels IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Apeejay Surrendra Park Hotels IPO allotment will take place on [-].
You can check the Apeejay Surrendra Park Hotels IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Apeejay Surrendra Park Hotels shares will list on the stock exchanges on 12-02-2024.
The Apeejay Surrendra Park Hotels Limited IPO has an issue size of Rs. 920 crores. The IPO opens for subscription on 5th February and closes on 7th February 2023.
Link Intime India Private Limited is the registrar for this IPO.
You may read more about Apeejay Surrendra Park Hotels Limited and its IPO from the company’s red herring prospectus (DRHP) here: Apeejay Surrendra Park Hotels Limited DRHP
Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.
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