Apeejay Surrendra Park Hotels Debuts with 28% Surge

12 Feb 2024 , 03:49 AM

Apeejay Surrendra Park Hotels debuts on exchanges with a 20% premium over the IPO price, in line with expectations.

Post-listing, shares surge to ₹198, marking a 28% increase over the IPO price of ₹155. At close, the shares were traded at ₹203.55 which is a 31.22% hike from the issue price.

The company leverages decades of hospitality industry experience, showcasing high occupancy rates and a proven track record of service excellence. Expansion plans hint at promising opportunities for future revenue growth.

Ranked as the eighth-largest hotel chain with asset ownership in India, operating under well-known brands like The Park, The Park Collection, and Zone by Park.

Manages 80 restaurants, nightclubs, and bars, providing diverse culinary experiences within its hotels as of March 2023. Food and beverage sales, along with wine and liquor sales, contribute ₹228 Crore to the total income in FY23. Proceeds from the fresh issue intend to be used for partial or full debt repayment and general corporate purposes.

Revenue growth for the six months ending September 2023 reaches 14%, totaling ₹272 Crore. Profit after tax sees a 24% increase, reaching ₹22.9 Crore during the same period.

Park hotels record a Revenue Per Available Room (RevPAR) of approximately ₹557 Crore, an occupancy rate of 91.77%, and an average room revenue of ₹6070 for the year ending March 2023.

 

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