Suba Hotels IPO

Established in October 1997, Suba Hotels Limited is a domestic hotel chain operating in the mid-market segment, with a presence across multiple brands, including upscale, upper-midscale, midscale, and economy, both domestic and international. As of July 2025, the company manages 88 operational hotels with a total of 4,096 keys across 50 cities, primarily in tier 2 and tier 3 locations. Additionally, 40 hotels are in the pre-opening stage, which will add 1,831 rooms to its portfolio. The company’s operations include five owned hotels with 227 rooms, 19 managed hotels with 156,551 rooms, 14 revenue share and lease hotels with 823 rooms, and 48 franchised hotels with 2,469 rooms. Suba Hotels also owns properties in Ahmedabad, Bhuj, Junagadh, Vadodara in Gujarat, and Pithampur in Madhya Pradesh.

Suba Hotels Limited IPO Overview

The Suba Hotels IPO is a book-built issue valued at ₹75.47 crores, consisting entirely of a fresh issue of 0.68 crore shares. The IPO opens for subscription on 29 September 2025 and closes on 1 October 2025, with allotment expected to be finalized on 3 October 2025. It is slated to list on the NSE SME, with a tentative listing date of 7 October 2025. The price band for the IPO is set between ₹105 and ₹111 per share, with a lot size of 1,200 shares. For individual retail investors, the minimum investment amounts to ₹2,66,400 for 2,400 shares (based on the upper price), while HNI investors must apply for a minimum of 3 lots (3,600 shares), totaling ₹3,99,600. Unistone Capital Pvt. Ltd. is the book-running lead manager, Bigshare Services Pvt. Ltd. serves as the registrar, and NNM Securities Pvt. Ltd. is the market maker for the issue.

Suba Hotels Limited IPO Details

Particulars	Details
IPO Date	29 September 2025 to 1 October 2025
Listing Date	7 October 2025
Face Value	₹10 per share
Issue Price Band	₹105 to ₹111 per share
Lot Size	1,200 shares
Total Issue Size	67,99,200 shares (up to ₹75.47 Cr)
Fresh Issue	67,99,200 shares (up to ₹75.47 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	1,74,43,316 shares
Share Holding Post Issue	2,42,42,516 shares
Market Maker Portion	3,40,800 shares

Suba Hotels IPO Reservation

Investor Category	Shares Offered
QIB	Not more than 50% of Net Issue
Retail	Not less than 35% of Net Issue
NII (HNI)	Not less than 15% of Net Issue

Suba Hotels Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	2,400	₹2,66,400
Retail (Max)	2	2,400	₹2,66,400
S-HNI (Min)	3	3,600	₹3,99,600
S-HNI (Max)	7	8,400	₹9,32,400
B-HNI (Min)	8	9,600	₹10,65,600

Suba Hotels IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	84.69%
Post-Issue	TBD

Valuation Overview

KPI	Value
EPS (Pre IPO)	8.69
EPS (Post IPO)	6.25
P/E (Pre IPO)	12.78
P/E (Post IPO)	17.76
RoE	31.82%
RoCE	35.55%
Debt/Equity	1.06
RoNW	31.82%
PAT Margin	18.94%
EBITDA Margin	29.09%
Price to Book Value	4.07

Objectives of the Proceeds

• Funding capital expenditure for hotel upgradation: ₹53.48 Cr

• General corporate purposes

Key Financials (₹ Crore)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	123.04	100.07	85.23
Revenue	79.98	53.00	35.20
Profit After Tax	15.15	8.96	2.78
Reserves and Surplus	30.17	27.57	18.70
Total Borrowings	50.23	45.73	46.09