Apeejay Surrendra Park Hotels IPO analysis – GMP, date, price and More

Overview: Apeejay Surrendra Park Hotels ipo , a key player in the hospitality business, is gearing up for its upcoming Initial Public Offering (IPO) scheduled to open on February 5, 2024, and close on February 7, 2024. The company operates under renowned brand names such as “THE PARK,” “THE PARK Collection,” “Zone by The Park,” “Zone Connect by The Park,” and “Stop by Zone.” Additionally, it manages the retail food and beverage industry through its retail brand ‘Flurys.’

Business Operations: As of January 2024, the company boasts a significant presence with 81 restaurants, nightclubs, and bars, providing a diverse culinary experience. Their 30 hotels span various categories, including luxury boutique, upscale, and upper midscale, located across major cities in India.

 

Apeejay Surrendra Park Hotels IPO Details:

  • IPO Opening Date: February 5, 2024
  • IPO Closing Date: February 7, 2024
  • Issue Size: 5,93,54,838 Shares Worth ₹920 Crore
    • Fresh Issue: 3,87,09,677 Shares Worth ₹600 Crore
    • Offer For Sale: 2,06,45,161 Shares Worth ₹320 Crore
  • IPO Price: ₹147 – ₹155
  • Market Lot: 96 Shares

 

Financial Snapshot (Consolidated):

 

Particulars FY 2021 FY 2022 FY 2023
Total Revenue ₹190.29 Cr. ₹267.83 Cr. ₹524.43 Cr.
Total Expense ₹262.02 Cr. ₹309.61 Cr. ₹458.96 Cr.
Profit After Tax ₹75.88 Cr. ₹28.20 Cr. ₹48.06 Cr.
Total Borrowing ₹593.44 Cr. ₹622.68 Cr. ₹566.88 Cr.

IPO Schedule:

 

  • Basis of Allotment Date: February 8, 2024
  • Initiation of Refund: February 9, 2024
  • Credit of Shares to Demat Account: February 9, 2024
  • IPO Listing Date: February 12, 2024

 

Competitive Strengths:

 

  • Successful hospitality brands through product innovation and service excellence.
  • Diversified Pan India portfolio with strategically located hotels.
  • High occupancy rate and REVPAR with a strong financial track record.
  • Significant contributions from F&B and Entertainment segments.
  • Iconic brand “Flurys” with industry-leading EBITDA margins.
  • Experienced leadership with a focus on corporate governance.

 

Object Of The Issue:

 

  • Repayment/prepayment of certain outstanding borrowings.
  • General corporate purposes.

 

Peer Comparison 

 

Company Name PE
Chalet Hotels Limited 79.78
Lemon Tree Hotels Limited 92.34
Indian Hotels Company Limited 65.67
EIH Limited 56.59
SAMHI Hotels Limited

 

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Disclaimer: Investors are advised to conduct thorough due diligence before participating in the IPO. The above information is for reference purposes only.

 

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