- POSITIVE
Annual Revenue Apeejay Surrendra Mar-2026 Annual Revenue is Rs 676 Cr which is growth of 7.1% YoY.
- NEGATIVE
Annual Net Profit Apeejay Surrendra Mar-2026 Annual Net Profit is Rs 70 Cr which is growth of -17.3% YoY.
Apeejay Surrendra Park was incorporated on 27 November 1987. The company is the 8th largest hotel chain amongst hotel chains with asset ownership in India. It 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”. It has established a presence in the retail food and beverage industry through its retail brand ‘Flurys’.
| Bidding Dates |
|---|
| 05 Feb 2024 - 07 Feb 2024 |
| Subscription |
|---|
| 59.66x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,112 | 1 | 13 | 96 | 62.6 M | ₹147 - ₹155 | 66.23 % | ₹9,205.0 M - ₹9,706.0 M | RHP DOC |
Apeejay Surrendra IPO SUBSCRIPTION STATUS
07 Feb '24Total59.66x
Retail Individual Investor30.35x
HNI (NII) Investors52.41x
Qualified Institutional Buyers75.14x
Employees5.42x
Apeejay Surrendra IPO overall subscription rate was 59.66 times the total available shares
Apeejay Surrendra IPO retail subscription rate was 30.35 times in the retail segment
Apeejay Surrendra IPO non-institutional investor subscription rate was 52.41 times in the non-institutional investor category
Apeejay Surrendra IPO Qualified Institutional Bidder subscription rate was 75.14 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
07 Feb 2024 (Day 3) | 30.35x | 52.41x | 75.14x | 5.42x |
06 Feb 2024 (Day 2) | 13.11x | 10.35x | 1.26x | 2.09x |
05 Feb 2024 (Day 1) | 5.7x | 3.24x | 1.17x | 0.75x |
Apeejay Surrendra FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 229.5 | 2,644.1 | 688.9 | 62.3 | 33.4% |
| H1FY23 | 185.1 | 2,260.0 | 746.6 | 546.3 | 33.7% |
| FY23 | 480.6 | 5,061.3 | 1,763.3 | 1,345.2 | 33.8% |
| FY22 | -282.0 | 2,550.2 | 581.1 | 316.0 | 21.8% |
| FY21 | -758.8 | 1,788.3 | 266.1 | -146.8 | 12.0% |
Apeejay Surrendra IPO SUBSCRIPTION STATUS DETAILS
Apeejay Surrendra had 62.6 M shares on offer
Apeejay Surrendra IPO offer price was in the range ₹147 - ₹155
Apeejay Surrendra IPO minimum Investment was ₹14112
Apeejay Surrendra IPO issue size was ₹ 9,205.0 M - ₹ 9,706.0 M
Apeejay Surrendra had a minimum lot size of 96 Shares per application
Apeejay Surrendra NUMBER OF SHARES ON OFFER
Total62.6 M
Fresh Issue40.8 M
Offer for Sale21.8 M
Post Issue Promoter Holding %66.23 %
Apeejay Surrendra IPO IMPORTANT DATES
| Issue Open Date | 05 Feb 2024 |
| Issue close Date | 07 Feb 2024 |
| Allotment Date | 08 Feb 2024 |
| Refund Date | 09 Feb 2024 |
| Demat Account Credit Date | 09 Feb 2024 |
| Listing Date | 12 Feb 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Apeejay Surrendra Allotment Status | Exchange |
Apeejay Surrendra IPO subscription opened on 05 Feb 2024, and closed on 07 Feb 2024
IPO allotment for Apeejay Surrendra was finalized on Thursday, 08 Feb 2024
IPO listing for Apeejay Surrendra was on NSE and BSE on Monday, 12 Feb 2024
Apeejay Surrendra IPO LISTING GAINS
| Issue Price (adjusted) | 155.0 |
| Listing Open Price | 186.0 |
| Listing Close Price | 203.6 |
| Listing Gain% | 20.0% |
| Current Gain% | -36.0% |
Apeejay Surrendra Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Apeejay Surrendra Park Hotels Ltd. | 99.2 | 2138 | 33.2 | -0.9 | 3 | 4.9 | 3.2 | 713 | 9.1 | 65.7 | -21.4 | 3 | -35.5 |
| Indian Hotels Company Ltd. | 811.6 | 115532.9 | 52.3 | 1.7 | 11.1 | 16 | 10.3 | 9971.4 | 16.4 | 2084.4 | 9.3 | 15.5 | 31.1 |
| ITC Hotels Ltd. | 167.2 | 34824.8 | 37.4 | 1.4 | 7.8 | 7 | 6 | 4331.3 | 19.4 | 816.9 | 28.7 | 4.5 | 26.4 |
| Leela Palaces Hotels & Resorts Ltd. | 634.2 | 21181.3 | 45.7 | 0.6 | 12.4 | 6.3 | 4.5 | 1597.8 | 13.6 | 403.1 | 742.9 | 13.9 | 79.8 |
| EIH Ltd. | 286.4 | 17907.3 | 25.2 | 5.6 | 5.9 | 11.9 | 9.6 | 3105.7 | 7.9 | 628.3 | -15 | 11.4 | 4.5 |
| Chalet Hotels Ltd. | 805.6 | 17643.3 | 33.4 | 0.4 | 7.4 | 17.4 | 8.8 | 2812.4 | 60.3 | 645.1 | 352.5 | 24.1 | 85.3 |
Forecaster
Revenue Mix
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Apeejay Surrendra annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Total Rev. Ann.
1Y CHG
7.1%
2Y CAGR
9%
3Y CAGR
10.1%
5Y CAGR
30.1%
Net Profit Ann.
1Y CHG
-17.3%
2Y CAGR
3.3%
3Y CAGR
13.7%
Operating Exp. Ann.
1Y CHG
12.4%
2Y CAGR
11.4%
3Y CAGR
11.4%
5Y CAGR
23.5%
Apeejay Surrendra INFORMATION ON IPO ISSUE
About Apeejay Surrendra
Apeejay Surrendra Park was incorporated on 27 November 1987. The company is the 8th largest hotel chain amongst hotel chains with asset ownership in India. It 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”. It has established a presence in the retail food and beverage industry through its retail brand ‘Flurys’.
Object of the Issue
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company
- General corporate purposes
Apeejay Surrendra - PROMOTERS
| Name |
|---|
| Karan Paul |
| Priya Paul |
| Apeejay Surrendra Trust |
| Great Eastern Stores Private Limited |
Apeejay Surrendra Book Running Lead Manager
JM Financial Limited
park.ipo@jmfl.com
Axis Capital Limited
parkhotels.ipo@axiscap.in
ICICI Securities Limited
parkhotelsipo@icicisecurities.com
Apeejay Surrendra Registrar to the Offer
Link Intime India Private Limited
parkhotels.ipo@linkintime.co.in
Apeejay Surrendra Strengths
Successful hospitality brands
The company has built successful hospitality brands through product innovation and service excellence to attract customers through a diversified and holistic offering
Strength
Occupancy rate
The company has a high occupancy rate and revenue per available room, along with a strong financial and operational track record
Strength
Non-cyclical earnings
The company has high Food & Beverage (F&B) and entertainment contributions, which add to stable and non-cyclical earnings while complementing the hotel business
Strength
Apeejay Surrendra Risks
Dependent on few hotels
A large portion of the revenue (approximately 75% of the total income in FY23) is realised from the top five owned hotels, with The Park Kolkata contributing 21.75% to the total income in FY23.
Risk
Seasonal and cyclical
The company's business is subject to seasonal and cyclical variations that could result in fluctuations in the results of operations and cash flow
Risk
Contingent liabilities
The company, its subsidiaries, directors, and promoters are involved in certain legal proceedings. An adverse outcome in any of these proceedings may adversely affect the business
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 320.0 crore, of 21,780,537 shares. It also consists of a fresh issue of Rs 600.0 crore.
The promoters of the company are Karan Paul, Priya Paul, Apeejay Surrendra Trust and Great Eastern Stores Private Limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 147.0 - 155.0.
The IPO application opens on Feb 05, 2024 and closes on Feb 07, 2024.
The minimum lot size for the IPO is 96. The maximum lot size for the IPO is 1248.
For all category investors, the minimum application amount for this IPO is Rs. 14,112.0, the maximum value for this IPO is Rs 193,440.0.
This IPO will be allotted on Feb 08, 2024.
The refund will be credited to your account on Feb 09, 2024.
The allotted shares will be credited to your demat on Feb 09, 2024.
Apeejay Surrendra Park Hotels Ltd.’s shares listed on the stock exchanges on Feb 12, 2024.