{"id":37262,"date":"2024-02-01T14:19:06","date_gmt":"2024-02-01T08:49:06","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=37262"},"modified":"2024-02-01T14:56:20","modified_gmt":"2024-02-01T09:26:20","slug":"apeejay-surrendra-park-hotels-limited-ipo","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/apeejay-surrendra-park-hotels-limited-ipo\/","title":{"rendered":"Apeejay Surrendra Park Hotels Limited IPO"},"content":{"rendered":"\t\t
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Apeejay Surrendra Park IPO is a book-built issue of Rs 920.00 crores. The issue is a combination of a fresh issue of Rs 600.00 crores and an offer for sale of Rs 320.00 crores.<\/span><\/p>

IPO opens for subscription on February 5, 2024, and closes on February 7, 2024. The price band is set at \u20b9147 to \u20b9155 per share. The minimum lot size for an application is 96 Shares.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Summary<\/strong><\/span><\/p>

The 8th largest hotel chain amongst hotel chains with asset ownership in India. \u201cTHE PARK\u201d, \u201cTHE PARK Collection\u201d, \u201cZone by\u00a0<\/span>The Park\u201d, \u201cZone Connect by The Park\u201d and \u201cStop by Zone\u201d are the brands under which they operate the hospitality assets.\u00a0<\/span>They also have an established presence in the retail food and beverage industry through their retail brand \u2018Flurys\u2019.<\/span><\/p>

The company currently operates 27 hotels, which are spread across different categories such as luxury boutique, upscale, and upper mid-scale. These hotels are present in various cities in India including Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, Mumbai, Coimbatore, Indore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Visakhapatnam, Port Blair, Pathankot, offering a total of 2,111 rooms as of August 2023.<\/span><\/p>

Further, As of March 31, 2023, they operate 80 restaurants, nightclubs, and bars, offering a wide selection of culinary experiences.\u00a0<\/span>The company owns restaurants under the brand names Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar.<\/span><\/p>

As of June 2023, the company has a total of 1,923 employees.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Strengths<\/strong><\/span><\/p>

\u00a0<\/b><\/strong>They operate individual hotels with distinctive characters and provide curated experiences for their guests. They can service a wide customer base as each of their hospitality brands caters to distinct price points and customer requirements.<\/span><\/p>

Their strength lies in our ability to accurately identify property locations with growth potential. They have a strong operating track record of high occupancy, competitive average room rates, and RevPAR for their hotel properties, during the last three Fiscals. they have been able to achieve an average occupancy level of 91.55% for their owned hotels for the year ended March 31, 2023.<\/span><\/p>

Their revenue and customer management system that manages their reservation and billing processes allows them to centrally manage all of their hotels to maximize hotel occupancy rates and reduce the manpower required for manual updates.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Financials:<\/strong><\/span><\/p>
Period Ended<\/strong><\/span><\/td>30 Sep 2023<\/strong><\/span><\/td>31 Mar 2023<\/strong><\/span><\/td>31 Mar 2022<\/strong><\/span><\/td>31 Mar 2021<\/strong><\/span><\/td><\/tr>
Assets<\/strong><\/span><\/td>1,382.51<\/span><\/td>1,361.79<\/span><\/td>1,275.18<\/span><\/td>1,280.34<\/span><\/td><\/tr>
Revenue<\/strong><\/span><\/td>272.31<\/span><\/td>524.43<\/span><\/td>267.83<\/span><\/td>190.29<\/span><\/td><\/tr>
Profit After Tax<\/strong><\/span><\/td>22.95<\/span><\/td>48.06<\/span><\/td>-28.20<\/span><\/td>-75.88<\/span><\/td><\/tr>
Net Worth<\/strong><\/span><\/td>578.71<\/span><\/td>555.68<\/span><\/td>508.51<\/span><\/td>536.28<\/span><\/td><\/tr>
Reserves & Surplus<\/strong><\/span><\/td>561.24<\/span><\/td>538.22<\/span><\/td>491.05<\/span><\/td>518.81<\/span><\/td><\/tr>
Total Borrowing<\/strong><\/span><\/td>597.09<\/span><\/td>566.88<\/span><\/td>622.68<\/span><\/td>593.44<\/span><\/td><\/tr><\/tbody><\/table>
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Amount in crore<\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\u00a0<\/strong><\/span>Objectives of the IPO:\u00a0<\/strong><\/p>

The Company proposes to utilize the Net Proceeds from the fresh issue towards funding the following objects,<\/span><\/p>