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Suba Hotels IPO
Price Band
₹105.0–111.0
Issue Size
₹75.47 Cr
Lot Size
1,200 shares
Min Investment
₹266,400
2 LOTS MIN
GMP
+₹10.0 (9.01%)
Issue Price
₹111.0
Subject to Sauda
₹9100
Paid only if allotted
Suba Hotels IPO AI Summary
- Suba Hotels IPO is listed on NSE SME in the Hotels & Resorts sector.
- Price band: ₹105.0–₹111.0 per share, lot size 1,200 shares (min. investment ₹266,400, 2 lots minimum).
- Subscription window: 29 Sep–01 Oct 2025, listing on 07 Oct 2025.
- Current GMP is +₹10.0 (9.01%), an estimated listing price of ₹121 — unofficial and can change daily.
Suba Hotels Limited is a promising player in the mid-market hotel sector with a strong growth trajectory. The company is leveraging its operational expertise and expansion plans to enhance its market presence. Investors should consider the IPO's potential and associated risks before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Suba Hotels IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 01 Oct 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Suba Hotels IPO Grey Market Premium (GMP) Today
GMP
+₹10.0
GMP %
+9.01%
Est. Listing
₹121.0
Updated: 25 Jul 2026 14:15
About the Company
Established in October 1997, Suba Hotels Limited is a domestic hotel chain in the mid-market sector with 88 operational hotels. As of July 2025, the group manages 88 operational hotels comprising 4,096 keys across 50 cities, predominantly in tier 2 and 3 cities. Additionally, 40 hotels are in the pre-opening phase, adding 1831 rooms to its portfolio. The company operates in the mid-market hotel sector, including upscale, upper-midscale, midscale, and economy brands, both domestic and international. As of July 31, 2025, the company operates five owned hotels with 227 rooms, 19 managed hotels with 156,551 rooms, 14 revenue share & lease hotels with 823 rooms, and 48 franchised hotels with 2,469 rooms. The company owns hotels in Ahmedabad, Bhuj, Junagadh, Vadodara (Gujarat) and Pithampur (Madhya Pradesh). Competitive Strength: One of India's leading domestic hotel chains in the mid-scale sector with a differentiated business model. Wide geographical coverage. Established distribution network. Ability to acquire underperforming hotels and improve performance through renovation or rebranding. Experienced promoters and management team.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 123.04 | 100.07 | 85.23 |
| Total Income | 79.98 | 53.00 | 35.20 |
| Profit After Tax | 15.15 | 8.96 | 2.78 |
| EBITDA | 23.27 | 8.75 | 13.87 |
| NET Worth | 47.61 | 32.33 | 23.46 |
| Reserves and Surplus | 30.17 | 27.57 | 18.70 |
| Total Borrowing | 50.23 | 45.73 | 46.09 |
Key Ratios
EPS
₹8.69
NAV
₹27.29
ROE
31.82%
ROCE
35.55%
RoNW
31.82%
P/B Value
4.07
P/E Ratio
12.78
Market Cap
₹269.09 Cr
PAT Margin
18.94%
Debt/Equity
1.06
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Sayaji Hotels Ltd. | 91.06 | 1.3% | 247.58 | 1.18 | 1.18 |
| Royal Orchids Hotels Limited | 84.16 | 20.58% | 29.81 | 17.32 | 17.32 |
| Suba Hotels Limited This IPO | 27.29 | 31.82% | — | 8.69 | 8.69 |
Promoters
Click Hotels Pvt.Ltd., Mansur Mehta and Mubeen Mehta
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 Funding Capital Expenditure Requirements towards upgradation and last-mile funding of hotel premises 53.48 2 General Corporate Purposes 14.52 3 Issue Expenses 7.47 Total 75.47
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹35.20 Cr in the year ending 31 Mar 2023, rising to ₹53.00 Cr by 31 Mar 2024, and further increasing to ₹79.98 Cr by 31 Mar 2025. This demonstrates significant growth in revenue over the periods analyzed.
Profit Trend
Profit after tax was ₹2.78 Cr for the year ending 31 Mar 2023, increasing to ₹8.96 Cr by 31 Mar 2024, and further rising to ₹15.15 Cr by 31 Mar 2025. This consistent increase indicates a positive trend in profitability.
Valuation
At the issue price of ₹111.0, Suba Hotels Limited has an implied P/E ratio of 12.78, compared to its peers, which have P/E ratios ranging from 29.81 to 247.58.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on current demand. A positive GMP suggests that the stock may list at a higher 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 their investment goals and risk tolerance. It's important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who prefer stable investments with lower risk may want to avoid IPOs that are subject to market fluctuations and uncertainties associated with new listings.
IPO Timeline, Explained
The IPO opens for subscription on 29 September 2025 and closes on 1 October 2025. Allotment of shares will be done on 3 October 2025, with the listing expected on 7 October 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may experience a surge in price on their first day of trading, others may not perform as expected. Investors should be prepared for potential volatility and should consider their investment strategy carefully.
This evaluation is generated from Suba Hotels'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 Suba Hotels IPO GMP today?
Suba Hotels IPO GMP today is +₹10.0 (9.01%), indicating an estimated listing price of ₹121. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Suba Hotels IPO?
The price band of Suba Hotels IPO is ₹105.0–₹111.0 per share.
When does Suba Hotels IPO open and close?
Suba Hotels IPO opens on 29 September 2025 and closes on 01 October 2025.
When does Suba Hotels IPO list on the stock exchange?
Suba Hotels IPO listed on 07 October 2025 at ₹121.0.
What is the lot size for Suba Hotels IPO?
The lot size for Suba Hotels IPO is 1200 shares, requiring a minimum investment of ₹266,400 (2 lots).
What is the price band for the Suba Hotels IPO?
The price band for the Suba Hotels IPO is ₹105.0 to ₹111.0.
What is the minimum investment required?
The minimum investment required is ₹266,400.0.
What is the lot size for the IPO?
The lot size for the Suba Hotels IPO is 1200 shares.
When will the shares be listed?
The shares are expected to be listed on 7 October 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price at which the shares will list compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
29 Sep 2025
Close
01 Oct 2025
Allotment
03 Oct 2025
Listing
07 Oct 2025
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