Apeejay Surrendra Park Hotels IPO : Check Issue Date, Lot Size & GMP Details .
Apeejay Surrendra Park Hotels, the stalwart in the hospitality sector, is making waves with its upcoming Initial Public Offering (IPO). Renowned as the 8th largest hotel chain in India in terms of asset ownership, the company has etched its name in the industry through a legacy of over five decades. Let's delve into the essence of Apeejay Surrendra Park Hotels and what the IPO holds for investors.
Pioneering Excellence:
Established in 1989, Apeejay Surrendra Park Hotels has been a trailblazer in the hospitality business, owning and operating hotels under various brands. The journey began with the launch of their first hotel under the iconic brand "THE PARK" on Park Street in Kolkata. Since then, the company has expanded its portfolio to include brands such as "THE PARK Collection," "Zone by The Park," "Zone Connect by The Park," and the recently launched "Stop by Zone."
Diversified Portfolio:
Apeejay Surrendra Park Hotels boasts a PAN-India presence with a diverse portfolio that caters to different segments of the market. The hotel portfolio is categorized into two distinct segments – upscale and upper mid-scale. The brands under their umbrella cater to a range of preferences, from luxury boutique experiences to affordable and convenient accommodations.
1. "THE PARK" : Positioned as an upscale brand with a focus on luxury boutique offerings, emphasizing design, style, and personalized service.
2. "THE PARK Collection" : Comprising small luxury properties at selected travel destinations, this brand targets the luxury hotel category, ensuring personalized guest experiences.
3. "Zone by The Park" : Positioned at the upper mid-scale level, designed for price-conscious and design-conscious customers.
4. "Zone Connect by The Park" : An upper mid-scale brand that draws inspiration from Zone by The Park, embodying its spirit and design philosophy.
5. "Stop by Zone" : A recent addition, this is an economy motel brand providing convenient accommodation with easy parking, free Wi-Fi, and food services.
Objects of the Issue:
The IPO aims to achieve the following objectives:
Repayment/Prepayment : Clearing certain outstanding borrowings availed by the company.
General Corporate Purposes : Utilizing funds for general corporate needs, providing flexibility in operations and future growth initiatives.
Financial Snapshot:
Apeejay Surrendra Park Hotels, as of the latest available financial data, demonstrates a steady growth trajectory.
| Year | Revenue (Cr) | Expense ( Cr) | PAT (Cr) |
|---|---|---|---|
| 2021 | 190.29 | 262.02 | 75.88 |
| 2022 | 267.83 | 309.61 | 28.20 |
| 2023 | 524.43 | 458.96 | 48.06 |
IPO Details:
- IPO Open: February 5, 2024
- IPO Close: February 7, 2024
- IPO Size: Approx Rs 920 Crores
- Fresh Issue: Approx Rs 600 Crores
- Offer for Sale: Approx Rs 320 Crores
- Face Value: Rs 1 Per Equity Share
- IPO Price Band: Rs 147 to Rs 155 Per Share
- IPO Listing on: BSE & NSE
- Retail Quota: 10%
- QIB Quota: 75%
- NII Quota: 15%
Valuation (FY2023):
- Earning Per Share (EPS): 2.75 per Equity Share
- Return on Net Worth (RoNW): 9.03%
- Net Asset Value (NAV): 31.81 per Equity Share
Peer Group:
- Park Hotels Limited
- Chalet Hotels Limited
- Lemon Tree Hotels Limited
- Indian Hotels Company Limited
- EIH Limited
IPO Allotment & Listing Dates:
- Allotment: February 8, 2024
- Refunds: February 9, 2024
- Credit to Demat Account: February 9, 2024
- Listing Date: February 12, 2024
How to Apply:
Investors can apply for the IPO through ASBA available in their bank accounts or by using IPO forms downloaded via NSE and BSE.
Conclusion:
Apeejay Surrendra Park Hotels has left an indelible mark on the hospitality industry, and the IPO is a testament to its commitment to growth and innovation. As the company sets its sights on the public market, investors are eager to be part of this journey, aligning with a brand that has redefined hospitality in India.
Note : Please note that this information is based on available data as of January 2022, and investors are advised to check for the latest updates and conduct thorough due diligence before making any investment decisions.
