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Apeejay Surrendra Park Hotels IPO

Apeejay Surrendra Park Hotels was founded in 1987 and is a successful hotel chain that markets itself with names like “THE PARK,” “THE PARK Collection,” “Zone by The Park,” “Zone Connect by The Park,” and “Stop by Zone.” With its retail brand “Flurys,” the company personifies excellence in the food and beverage retail market, extending its reach beyond the hospitality sector.

By March 31, 2023, the company will have 80 restaurants, pubs, and nightclubs under its management, offering a wide range of gastronomic experiences. For FY 2023, 2022, and 2021, the sales of wine and spirits, as well as food and drinks, brought in a total of INR 228.03 crore, INR 112.65 crore, and INR 79.79 crore. For the corresponding periods, these amounts represent 43.48%, 42.06%, and 41.93% of the total income.

Apeejay Surrendra Park Hotels oversees 27 properties in the upper midscale, luxury boutique, and upmarket categories as of August 2023. Offering 2,111 rooms, it is present in all of India’s major cities, including Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, and Mumbai. It is also present in Coimbatore, Indore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Visakhapatnam, Port Blair, and Pathankot.

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.

Apeejay Surrendra Park Hotels IPO Details

Signature Global IPO Details
Apeejay Surrendra Park Hotels IPO Dates
5 - 7Feb 2024
Apeejay Surrendra Park Hotels IPO Price
INR 147 – 155 per share (Employee Discount – INR 7 per share)
Fresh issue
INR 600 crore
Offer For Sale
INR 320 crore
Total IPO Size
INR 920 crore
Minimum bid (size)
96 shares (INR 14,880)
Face Value
INR 1 per share
Retail Allocation
10%
Listing On
BSE, NSE

Apeejay Surrendra Park Hotels Financial Performance

Signature Global Financial Performance

FY21

FY22

FY23

H1 FY 24

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

Figures in INR Crore unless specified otherwise

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