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.
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding Capital Expenditure Requirements towards upgradation and last-mile funding of hotel premises | ₹53 |
| General Corporate Purposes | — |
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 123 | 100 | 85 |
| Revenue | 80 | 53 | 35 |
| PAT | 15 | 9 | 3 |
| EBITDA | 23 | 9 | 14 |
| Net Worth | 48 | 32 | 23 |
| Reserves | 30 | 28 | 19 |
| Total Borrowing | 50 | 46 | 46 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | Not more than 50% of the Net Issue | — |
| NII / HNI | — | Not less than 15% of the Net Issue | — |
| Retail (RII) | — | Not less than 35% of the Net Issue | — |
| Market Maker | — | Up to ₹4 Cr | — |
* Amount calculated at upper price band (₹111) · ** Total includes all investor categories
- 1 Initiation of Refund 06 Oct 2025
- 2 Credit of Shares to Demat 06 Oct 2025
- The IPO P/E of 18x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹9 compares to post-issue EPS of ₹6 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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