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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Apeejay Surrendra Park Hotels Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹155
Per ShareLot Size
96 Shares
Minimum Investment
₹14,880
Issue Size
₹920 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
47.24%
Issue Type
Book Building
ISIN
INE988S01028
Among hotel chains with asset ownership, the Company ranks as the eighth largest in India in terms of chain affiliated hotel rooms inventory as of September 30, 2023. The Company operates hospitality assets under its own brands, "THE PARK", "THE PARK Collection", "Zone by The Park", "Zone Connect by The Park" and "Stop by Zone". The Company has a long-standing expertise of over 55 years in the hospitality business of owning and operating hotels. The Company operates 30 hotels comprising 7 owned, 3 leased, and 20 managed hotels across luxury boutique upscale brands, and upper midscale category. The Company has established presence in the retail food and beverage industry through its retail brand `Flurys'.
The hospitality sector in India consists of hotels offering rooms to tourists and business travellers both domestic and international along with restaurants, bars, and banquet facilities for events. The hotels in India are segmented into the Luxury and Upper Upscale Segment, Upscale segment, Upper Midscale segment (Up-Mid), Midscale Segment and Economy Segment. These segments are based on intended positioning of the hotels and the room rate structures. Each segment will include entry-level hotels in that segment besides hotels that are more fully of segment standards. The Luxury and Upper Upscale comprises of 5 star, deluxe and luxury hotels followed by Upscale which are moderately priced than top tier hotels and Upper Midscale which are classified as 4 star and sometimes 3 star. The rapid growth in India's hospitality industry is expected at an overall supply CAGR of 8.6% from September 2023 - FY 27, across all segments. Through FY 2027, about 25% of new supply will be in the Luxury-Upper Upscale segment, 24% and 20% in the Upscale and Upper-Midscale segments respectively and 31% in the Midscale-Economy segment. About 90% of total inventory is controlled by the top 25 chains. The Indian food services business comprises of both unorganized and organized players. The unorganized players comprise of local restaurants and roadside eateries. The organized format includes quick service restaurants (QSR) offering fast food products, café chain offering coffee and beverages along with snack eateries, bars/ lounges offer alcohol-based beverages along with full-fledged meals and fine dining outlets. The Indian bakery market is expected to reach approximately Rs. 1,800-1,850 billion over next five years, by Fiscal 2028, and the Indian café market is expected to grow at 19-21% CAGR during Fiscal 2023- 2028. It presents to the company with various opportunities to grow its retail food and beverage business across different distribution channels.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of 59,385,351* equity shares of face value of Re. 1 each ("Equity Shares") of Apeejay Surrendra Park Hotels Limited (The "Company" or the "Issuer") for cash at a price of Rs. 155^^ per equity share (including a share premium of Rs. 154 per equity share) aggregating to Rs. 920.00 crores (the "Offer"), comprising a fresh issue of 38,740,191* equity shares aggregating to Rs. 600.00 crores by the company (the "Fresh Issue") and an offer for sale of 20,645,160* equity shares aggregating to Rs. 320.00 crores, comprising 19,096,774* equity shares aggregating to Rs. 296.00 crores by Apeejay Private Limited (the "Promoter Group Selling Shareholder"), 1,483,870* equity shares aggregating to Rs. 23.00 crores by Recp IV Park Hotel Investors Ltd and 64,516* equity shares aggregating to Rs. 1.00 crores by Recp IV Park Hotel Co-Investors Ltd (together referred to as the "Investor Selling Shareholders" and together with the promoter group selling shareholder, referred to as the "Selling Shareholders" and such equity shares offered by the selling shareholders, the "Offered Shares") ("Offer for Sale"). The offer included a reservation of 675,675* equity shares, aggregating to Rs. 10.00 crores (constituting 0.32%* of the post offer paid-up equity share capital of the company for subscription by eligible employees (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constitute 27.83%* and 27.51%*, respectively, of the post-offer paid-up equity share capital of the company. The company, in consultation with book running lead managers ("brlms"), offered a discount of 4.52% (equivalent to Rs. 7 per equity share) of the offer price to ligible employees bidding in the employee reservation portion ("Employee Discount"). The face value of the equity share is Re. 1. The offer price is 155 times the face value of the equity shares.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Apeejay Surrendra Park Hotels Limited was originally incorporated at Karnataka on November 27, 1987, as Budget Hotels Private Limited, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 27, 1987 issued by the Registrar of Companies, Bangalore at Karnataka. Subsequently, the name of the Company was changed to Budget Hotels Limited pursuant to the Company becoming a public company with effect from October 26, 1990 and noting of such conversion in the certificate of incorporation by Registrar of Companies, Bangalore at Karnataka. Further, pursuant to the Acquisition Agreements, the entire issued and paid-up equity share capital of the Company constituting 571,940 equity shares of face value of Rs. 100 each, was acquired by Apeejay Hotels Delhi in two tranches and the Company became the wholly owned subsidiary of Apeejay Hotels Delhi. Subsequently, pursuant to the scheme of amalgamation approved vide orders of the High Court of Madras dated June 13, 2003, High Court of Delhi dated August 6, 2003, and High Court of Karnataka dated September 17, 2003, Apeejay Hotels Delhi, and Gemini Hotels and Holdings Limited (a wholly owned subsidiary of Apeejay Hotels Delhi) were amalgamated with the Company, with the appointed date being April 1, 2001. Thereafter, to closely identify the association of the Company with the Apeejay Surrendra Group, the name of the Company was changed from Budget Hotels Limited to Apeejay Surrendra Park Hotels Limited, pursuant to the resolution passed by its Shareholders at their EGM held on March 8, 2004 and the certificate of incorporation pursuant to change of name was issued by the RoC on March 29, 2004. Further, pursuant to its Shareholders' resolution dated November 30, 2016 and order dated June 22, 2017 passed by the Regional Director, South East Region, Hyderabad, its registered office was shifted from the State of Karnataka to State of West Bengal.
Wholesalers and Retailers
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.