Apeejay Surrendra Park IPO will open for subscription from 05 February 2024. The company aims for an issue size of ₹920 Cr through this IPO.
Company Overview
| Full name | Apeejay Surrendra Park Hotels Limited |
| Sector | Hospitality |
| Industry | Hotels, Resorts & Restraunts |
| Company Website | https://www.theparkhotels.com/ |
About Company
Established in 1987, Apeejay Surrendra Park Hotels thrives in the realm of hospitality, showcasing its prowess under distinctive brand monikers such as ‘THE PARK’, ‘THE PARK Collection’, ‘Zone by The Park’, ‘Zone Connect by The Park’, and ‘Stop by Zone’. Beyond the domain of hospitality, the company extends its influence into the retail food and beverage industry, personifying excellence through its retail brand ‘Flurys’.
As of 31 March 2023, the corporation manages a network of 80 restaurants, nightclubs, and bars, presenting an extensive array of culinary delights and experiences. The revenue from the sale of food and beverages, along with the sales of wine and liquor, amounted to INR 228.03 crore, INR 112.65 crore, and INR 79.79 crore for FY 2023, 2022, and 2021, respectively. These figures constitute 43.48%, 42.06%, and 41.93% of the total income during the respective periods.
As of August 2023, Apeejay Surrendra Park Hotels manages 27 hotels spanning luxury boutique, upscale, and upper midscale categories. Its presence is felt across India’s metros, including Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, and Mumbai, as well as in other significant cities like Coimbatore, Indore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Visakhapatnam, Port Blair, and Pathankot, collectively offering 2,111 rooms.
The corporation possesses dining establishments bearing the brand names Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love, and Bazaar. As of June 2023, the company boasts a workforce totaling 1,923 employees.
The Objectives of the Issue
- Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by the Company,
- General corporate purposes
Apeejay Surrendra Park IPO Timetable
| IPO Opening date | 05 February 2024 |
| IPO Closing | 07 February 2024 |
| Basis of Allotment | 08 February 2024 |
| Initiation Refund | 09 February 2024 |
| Credit to Demat Account | 09 February 2024 |
| Listing Date | 12 February 2024 |
Apeejay Surrendra Park IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹920 Cr – 59,354,838 shares |
| Fresh Issue | ₹600 Cr – 38,709,677 shares |
| Offer for sale | ₹320 Cr – 20,645,161 shares |
| Face value | ₹01 per share |
| Price Band | ₹147 to ₹155 per share |
| Lot size | 96 Shares |
| Employee Discount | ₹07 per share |
| Shareholding pre-issue | 174,661,760 |
| Shareholding post-issue | 213,371,437 |
| Listing Exchange | BSE & NSE |
Apeejay Surrendra Park IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 96 | ₹14,880 |
| Retail (Max) | 13 | 1248 | ₹193,440 |
| S-HNI (Min) | 14 | 1,344 | ₹208,320 |
| S-HNI (Max) | 67 | 6,432 | ₹996,960 |
| B-HNI (Min) | 68 | 6,528 | ₹1,011,840 |
Apeejay Surrendra Park IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 26,419,354 (44.49%) |
| QIB Shares Offered | 17,612,903 (29.66%) |
| NII (HNI) Shares Offered | 8,806,452 (14.83%) |
| bNII > ₹10L | 5,870,967 (9.89%) |
| sNII < ₹10L | 2,935,484 (4.94%) |
| Retail Shares Offered | 5,870,968 (9.89%) |
| Employee Shares Offered | 675,675 (1.14%) |
Apeejay Surrendra Park Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 178.83 | 255.02 | 506.13 | 264.41 |
| Expenses | 262.02 | 309.62 | 458.96 | 238.67 |
| Net income | (75.88) | (28.20) | 48.06 | 22.95 |
| Margin (%) | (42.43) | (11.06) | 9.50 | 8.68 |
Apeejay Surrendra Park Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (4.34) | (1.61) | 2.75 |
| PE ratio | – | – | 53.45 – 56.36 |
| RONW (%) | (13.23) | (5.40) | 9.03 |
| NAV | 30.70 | 29.11 | 31.81 |
| EBITDA (%) | 12.01 | 21.76 | 33.77 |
| Debt/Equity | 1.09 | 1.21 | 0.99 |
Company Promoters
- Karan Paul
- Priya Paul
- Apeejay Surrendra Trust
- Great Eastern Stores Private Limited.
Promoter Holding
| Pre Issue Share Holding | 94.18% |
| Post Issue Share Holding | 68.13% |
Apeejay Surrendra Park IPO Lead Manager(s)
- Jm Financial Limited
- ICICI Securities Limited
- Axis Capital Limited
Apeejay Surrendra Park Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: parkhotels.ipo@linkintime.co.in
Website: www.linkintime.co.in
Apeejay Surrendra Park Contact Details
APEEJAY SURRENDRA PARK HOTELS LIMITED
The Park Hotels, N-80,
Connaught Place, New Delhi – 110 001
Phone: +91 33 2249 9000
Email: investorrelations@asphl.in
Website: www.theparkhotels.com
Apeejay Surrendra Park IPO Allotment Status
Apeejay Surrendra Park Hotels IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Apeejay Surrendra Park IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
