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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment or prepayment of borrowings
-
General corporate purposes
-
(₹ in Crore)
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Apeejay Surrendra Park Hotels Limited is a hospitality company incorporated in 1987, operating hotels, resorts and food and beverage outlets across India under brand names including THE PARK, THE PARK Collection, Zone by The Park, Zone Connect by The Park and Stop by Zone. The company also runs a retail bakery and confectionery chain under the Flurys brand. As of the issue, the company operated 27 hotels across luxury boutique, upscale and upper midscale categories, along with around 80 restaurants, nightclubs and bars, and ranked among the top ten hotel chains in India by asset owned room inventory. The group has more than five decades of experience in Indian hospitality and was an early developer of luxury boutique hotels in the country. The company's growth strategy centers on expanding its owned and managed hotel portfolio, deepening its presence across established leisure and business destinations, and growing its food and beverage business, while working to reduce borrowings and lower finance costs following the issue.
Ahead of the issue, the company raised approximately Rs 409.50 crore from anchor investors at Rs 155 per share.
Source: RHP • Analysis provided for informational purposes
Last Updated: 17 July 2026, 5:30 AM
Strengths are not available
Project execution delays
Delays in developing or expanding hotel properties could affect the company's business operations and financial performance.
New segment execution risk
The company has limited prior experience developing serviced apartments, which adds execution risk to at least one ongoing project.
Financing covenant risk
Failure to comply with loan covenants or delays in debt repayment could adversely affect the company's financial position.
Statutory dues risk
Delayed or disputed payment of statutory dues could result in penalties and affect cash flows.
Dependence on online travel agents
A significant share of bookings comes through online travel agents and intermediaries, exposing the company to higher commissions and margin pressure.
MUFG Intime India Private Limited
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