What you should know about Apeejay Surendra Park Hotels IPO?
by 5paisa Research Team
31 Jan 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 12-Feb-24
- IPO Price Range ₹147
- Listing Price ₹187
- Listing Change 20.6 %
- Last Traded Price ₹184.1
- Current Change 18.8 %
Apeejay Surrendra IPO Details
- Open Date 05-Feb-24
- Close Date 07-Feb-24
- Lot Size 96
- IPO Size ₹ 920 Cr
- IPO Price Range ₹ 147 to ₹ 155
- Min Investment ₹ 14,112
- Listing Exchange BSE, NSE
- Basis of Allotment 08-Feb-24
- Refunds 09-Feb-24
- Credit to Demat Account 09-Feb-24
- Listing Date 12-Feb-24
Apeejay Surrendra Park Hotels IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 5-Feb-24 | 1.23 | 3.44 | 6.12 | 2.69 |
| 6-Feb-24 | 1.33 | 10.93 | 13.93 | 6.16 |
| 7-Feb-24 | 79.23 | 55.26 | 32.00 | 62.91 |
Apeejay Surrendra IPO Synopsis
Apeejay Surrendra Park Hotels Limited IPO is set to open from 5th February to 7th February 2024. The company operates in the hospitality industry and runs hotel chains with asset ownership. The IPO includes a fresh issue worth ₹600.00 cr and an Offer-for-Sale (OFS) of ₹320.00. The IPO size is ₹920.00 cr. The share allotment date is 8th February 2024, and the IPO will be listed on 12th February 2024 on the stock exchanges. The price band is ₹147 to ₹155 per share and the lot size is 96 shares.
JM Financial Limited, Axis Capital Limited, and ICICI Securities Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of Apeejay Surrendra Park Hotels IPO:
● To repay or prepay in full or part the borrowings obtained by the company
● General corporate purposes
Apeejay Surrendra Park Hotels IPO Video:
About Apeejay Surrendra Park Hotels
Established in 1987, Apeejay Surrendra Park Hotels operates in the hospitality industry and runs hotel chains with asset ownership. As of September 2023, the company ranks in the eighth position in India as per chain affiliated hotel room inventory.
The company has categoried its hotel chain into two categories i) upscale hotels under which comes the brands “THE PARK” and “THE PARK Collection” ii) upper-midscale under which comes the brands “Zone by The Park” and “Zone Connect by The Park”. Recently the company has started economy hotels under “Stop by Zone”.
Apart from hotels, Apeejay Surrendra Park Hotels also operates in the retail food and beverage sector under the brand name ‘Flurys’.
As of September 2023, the company had a portfolio of 81 restaurants, nightclubs and bars at a PAN-India level.
Peer Comparison
● Chalet Hotels Limited
● Lemon Tree Hotels Limited
● Indian Hotels Company Limited
● Samhi Hotels Limited
● EIH Limited
For More Information:
Webstory on Apeejay Surrendra Park Hotels IPO
Apeejay Surrendra Park Hotels Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 506.13 | 255.02 | 178.83 |
| EBITDA | 177.09 | 58.29 | 22.84 |
| PAT | 48.06 | -28.20 | -75.88 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 1361.79 | 1275.17 | 1280.33 |
| Share Capital | 17.46 | 17.46 | 17.46 |
| Total Borrowings | 806.32 | 766.84 | 744.13 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 176.32 | 58.11 | 26.60 |
| Net cash from / (used in) investing activities | -42.13 | -22.10 | -25.30 |
| Net cash flow from / (used in) financing activities | -126.16 | -37.21 | -5.26 |
| Net increase (decrease) in cash and cash equivalents | 8.03 | -1.21 | -3.96 |
Apeejay Surrendra IPO Key Points
-
Strengths
1. The company has successfully created hospitality brands through product innovation and service excellence to attract customers through a diversified and holistic offering.
2. It has a Pan India portfolio of owned, leased and managed hotels.
3. The company enjoys a high occupancy rate and REVPAR.
4. A strong financial and operational track record.
5. It also has High F&B and Entertainment contributions which adds to stable and non-cyclical earnings while complementing the hotel business.
6. Its “Flurys” brand has a successful and profitable track record of industry-leading EBITDA margins.
7. The company has a dedicated and experienced leadership team with high standards of corporate governance.
-
Risks
1. The company has risks associated with the delay in the development of our hotel properties and land banks.
2. It has reported restated losses in the past.
3. A few of the hotels are mortgaged with lenders, out of which the title deeds of certain immovable properties are not held in the name of the Company.
4. A big portion of revenues comes from corporate accounts and from leisure customers.
5. A substantial portion of revenue from the top five hotels.
6. The company has reported negative cash flows.
7. High working capital requirements.
Apeejay Surrendra
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Apeejay Surrendra IPO FAQs
When does the Apeejay Surrendra Park Hotels IPO open and close?
Apeejay Surrendra Park Hotels IPO opens from 5th February to 7th February 2024.
What is the size of the Apeejay Surrendra Park Hotels IPO?
The size of Apeejay Surrendra Park Hotels IPO is ₹920.00 cr.
How to apply for the Apeejay Surrendra Park Hotels IPO?
To apply for Apeejay Surrendra Park Hotels IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Apeejay Surrendra Park Hotels IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the GMP of the Apeejay Surrendra Park Hotels IPO?
The GMP value of every IPO changes daily. To view today's GMP of Apeejay Surrendra Park Hotels IPO visit https://www.5paisa.com/ipo/ipo-gmp
What is the price band of Apeejay Surrendra Park Hotels IPO?
The price band of Apeejay Surrendra Park Hotels IPO is ₹147 to ₹155 per share.
What is the minimum lot size and investment required for the Apeejay Surrendra Park Hotels IPO?
The minimum lot size of Apeejay Surrendra Park Hotels IPO is 96 shares and the investment required is ₹14,112.
What is the allotment date of the Apeejay Surrendra Park Hotels IPO?
The share allotment date of Apeejay Surrendra Park Hotels IPO is 8th February 2024.
What is the Apeejay Surrendra Park Hotels IPO listing date?
The Apeejay Surrendra Park Hotels IPO will be listed on 12th February 2024.
Who are the book runners for the Apeejay Surrendra Park Hotels IPO?
JM Financial Limited, Axis Capital Limited, and ICICI Securities Limited are the book-running lead managers for Apeejay Surrendra Park Hotels IPO.
What is the objective of Apeejay Surrendra Park Hotels IPO?
Apeejay Surrendra Park Hotels Limited will use proceeds for:
● To repay or prepay in full or part the borrowings obtained by the company
● General corporate purposes
Contact Details of Apeejay Surrendra Park Hotels IPO
Contact Information
Apeejay Surrendra Park Hotels Limited
17, Park Street, kolkata
700 016
Phone: +91 33 2249 9000
Email: investorrelations @asphl.in
Website: https://www.theparkhotels.com/
Apeejay Surrendra Park Hotels IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: parkhotels.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Apeejay Surrendra Park Hotels IPO Lead Manager
JM Financial Limited
Axis Bank Limited
ICICI Securities Limited
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