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Apeejay Surrendra Park IPO
Price Band
₹147.0–155.0
Issue Size
₹920.43 Cr
Lot Size
96 shares
Min Investment
₹14,880
GMP
+₹38.0 (24.52%)
Issue Price
₹155.0
Subject to Sauda
₹2800
Paid only if allotted
Apeejay Surrendra Park IPO AI Summary
- Apeejay Surrendra Park IPO is listed on BSE, NSE in the Hotels & Resorts sector.
- Price band: ₹147.0–₹155.0 per share, lot size 96 shares (min. investment ₹14,880).
- Subscription window: 05 Feb–07 Feb 2024, listing on 12 Feb 2024.
- Current GMP is +₹38.0 (24.52%), an estimated listing price of ₹193 — unofficial and can change daily.
Apeejay Surrendra Park Hotels Limited is a hospitality company with a diverse portfolio of hotels and restaurants. The IPO aims to raise funds for debt repayment and corporate purposes, with a positive outlook on revenue and profit trends.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Apeejay Surrendra Park IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 07 Feb 2024 — not a current signal.
5 of 7 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Apeejay Surrendra Park IPO Grey Market Premium (GMP) Today
GMP
+₹38.0
GMP %
+24.52%
Est. Listing
₹193.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in 1987, Apeejay Surrendra Park Hotels Limited is engaged in the hospitality business operating under the brand names of "THE PARK", "THE PARK Collection", "Zone by The Park", "Zone Connect by The Park" and "Stop by Zone". The company is also engaged in the business of retail food and beverage industry through its retail brand 'Flurys. As of March 31, 2023, the company operates 80 restaurants, night clubs and bars, offering a wide selection of culinary experiences. The company currently operates 27 hotels, which are spread across different categories such as luxury boutique, upscale, and upper midscale. 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, and Pathankot, offering a total of 2,111 rooms as of August 2023. The company owns restaurants under the brand name of 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 has a total of 1,923 employees.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,382.51 | 1,361.79 | 1,275.18 | 1,280.34 |
| Total Income | 272.31 | 524.43 | 267.83 | 190.29 |
| Profit After Tax | 22.95 | 48.06 | -28.20 | -75.88 |
| NET Worth | 578.71 | 555.68 | 508.51 | 536.28 |
| Reserves and Surplus | 561.24 | 538.22 | 491.05 | 518.81 |
| Total Borrowing | 597.09 | 566.88 | 622.68 | 593.44 |
Key Ratios
EPS
₹2.75
NAV
₹31.81
RoNW
9.03%
P/B Value
4.87
P/E Ratio
56.33
Market Cap
₹3307.26 Cr
Debt/Equity
0.99
Peer Comparison
| Company | NAV | EPS Basic | EPS Diluted | RoNW | P/E (x) |
|---|---|---|---|---|---|
| Samhi Hotels Limited | 2.51 | -47.48 | -47.48 | — | — |
| Eih Limited | 53.96 | 5.03 | 5.03 | 9.75% | 41.75 |
| Indian Hotels Company Limited | 56.2 | 7.06 | 7.06 | 13.19% | 54.82 |
| Lemon Tree Hotels Ltd | 10.78 | 1.45 | 1.45 | 16.46% | 65.3 |
| Chalet Hotels Ltd | 75.33 | 9.06 | 9.06 | 12.03% | 54.38 |
| Apeejay Surrendra Park Hotels Limited This IPO | 31.81 | 2.75 | 2.75 | 8.65% | — |
Promoters
Karan Paul, Priya Paul, Apeejay Surrendra Trust and Great Eastern Stores Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/prepayment, in full or in part of certain outstanding borrowings availed by the Company 550.00 2 General corporate purposes 16.23
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹524.43 Cr for the period ending 31 Mar 2023, rising from ₹272.31 Cr for the period ending 30 Sep 2023. This indicates a significant increase in revenue over the recent periods.
Profit Trend
Profit after tax was ₹48.06 Cr for the period ending 31 Mar 2023, up from ₹22.95 Cr for the period ending 30 Sep 2023. This reflects a positive trend in profitability.
Valuation
At the issue price of ₹155.0, Apeejay Surrendra Park Hotels Limited has an implied P/E ratio of 56.33 based on its EPS of ₹2.75. This is compared to peers in the sector, which trade at P/E ratios ranging from 41.75 to 65.3.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before its official listing. A positive GMP suggests that the market anticipates a higher listing price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the overall market conditions and the company's growth potential.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to consider avoiding IPOs, as they can be more volatile and uncertain.
IPO Timeline, Explained
The IPO opens for subscription on February 5, 2024, and closes on February 7, 2024. Allotment of shares will be done on February 8, 2024, with the listing expected on February 12, 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange and traded for the first time. However, these gains are not guaranteed and can be influenced by market conditions and investor sentiment.
This evaluation is generated from Apeejay Surrendra Park's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Apeejay Surrendra Park IPO GMP today?
Apeejay Surrendra Park IPO GMP today is +₹38.0 (24.52%), indicating an estimated listing price of ₹193. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Apeejay Surrendra Park IPO?
The price band of Apeejay Surrendra Park IPO is ₹147.0–₹155.0 per share.
When does Apeejay Surrendra Park IPO open and close?
Apeejay Surrendra Park IPO opens on 05 February 2024 and closes on 07 February 2024.
When does Apeejay Surrendra Park IPO list on the stock exchange?
Apeejay Surrendra Park IPO listed on 12 February 2024 at ₹193.0.
What is the lot size for Apeejay Surrendra Park IPO?
The lot size for Apeejay Surrendra Park IPO is 96 shares, requiring a minimum investment of ₹14,880.
What is the price band for the IPO?
The price band for the IPO is ₹147.0 to ₹155.0.
What is the minimum investment required?
The minimum investment required is ₹14,880.0.
What is the lot size for the IPO?
The lot size for the IPO is 96 shares.
When is the listing date?
The listing date is February 12, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
05 Feb 2024
Close
07 Feb 2024
Allotment
08 Feb 2024
Listing
12 Feb 2024
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