India : Apeejay Surrendra Park Hotels IPO

Apeejay Surrendra Park Hotels Limited Company Profile :

• Among hotel chains with asset ownership, Apeejay Surrendra Park Hotels Limited Company holds the eighth position in India based on chain-affiliated hotel rooms inventory as of September 30, 2023.
• Of the total 45,800 rooms owned by chain-affiliated hotels nationwide as of September 30, 2023, Apeejay Surrendra Park Hotels Limited Company accounts for approximately 1,300 rooms, constituting 2.80% of the total inventory.
• Apeejay Surrendra Park Hotels Limited operates hospitality assets under its own brands, including “THE PARK,” “THE PARK Collection,” “Zone by The Park,” “Zone Connect by The Park,” and “Stop by Zone.”
• With over 55 years of expertise in the hospitality industry, Apeejay Surrendra Park Hotels Limited launched its first hotel under the brand “THE PARK” on the iconic Park Street in Kolkata.
• The company has also made a mark in the retail food and beverage industry through its retail brand, ‘Flurys.’ Apeejay Surrendra Park Hotels Limited is known for pioneering the concept of luxury boutique hotels in India under the brand “THE PARK” and “THE PARK Collection,” and in the upper-midscale categories with brands like “Zone by The Park” and “Zone Connect by The Park.”
• As of September 30, 2023, Apeejay Surrendra Park Hotels Limited operates 81 restaurants, nightclubs, and bars, providing a diverse range of culinary experiences. The night club and entertainment division play a significant role in brand positioning and enable cross-selling opportunities.
• Apeejay Surrendra Park Hotels Limited has successfully established award-winning brands including Zen, Someplace Else, Tantra, Roxy, iBar, The Leather Bar, Pasha, and Aqua.
• The revenue generated from the sale of food and beverage, as well as the sale of wine and liquor, amounted to ₹1,146.73 million, ₹1,039.94 million, ₹2,280.26 million, ₹1,126.50 million, and ₹797.90 million, respectively. These figures represent 42.11%, 43.61%, 43.48%, 42.06%, and 41.93% of Apeejay Surrendra Park Hotels Limited’s total income.

IPO DETAILS :

• Issue date: 05 – Feb – 2024 To 07- Feb – 2024
• Price range: ₹ 147 – ₹ 155
• Issue size: ₹920 crores
• Face value : Re.1 per Equity Share
• Bid lot (retail) : ₹14,112
• Fresh issue :₹600 Crores
• OFS : ₹320 Crores
• Allotment date : 08 – Feb – 2024
• Listing date : 12 – Feb – 2024
• Promoter holding : 94.19 %(pre- issue) ,68.14 % (post – issue )
• Name of registrar : Link Intime India Private Limited
• IPO reservation : 10% (retail )

GMP : ₹ 65 (expected gains 42 % )

Financial information :

Consolidated Statement of Profit and Loss

Objects of issue:

• The repayment or prepayment, whether in full or in part, of certain outstanding borrowings obtained by company.
• For general corporate purposes.