Suba Hotels Limited Link 
Allotment
The Suba Hotels IPO will open for subscription on September 29, 2025, and close on October 1, 2025. The IPO is a book-built issue through which the company aims to raise approximately ₹75.47 crore. The issue consists of a fresh issue aggregating ₹75.47 crore along with an offer for sale of up to [●] equity shares, each with a face value of ₹10.
The IPO price band has been set between ₹105 and ₹111 per share. The issue allocation is structured with 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for High Net-worth Individuals (HNIs).
The basis of allotment is expected to be finalized on October 3, 2025, and the company’s equity shares are scheduled to be listed on the NSE on October 7, 2025.
On the financial front, Suba Hotels reported revenue of ₹107.59 crore in FY2025, compared to ₹54.34 crore in FY2024. Net profit increased to ₹4.80 crore in FY2025 from ₹1.65 crore in FY2024. Based on these financials, the IPO may be suitable for investors with a long-term investment perspective.
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Open
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HIgh - Low
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Previous Close
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Total Traded Value
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52 Weeks High
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52 Weeks Low
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Updates On
Sep 22, 2025
IPO. Open
Sep 29, 2026
IPO. Close
Oct 1, 2026
IPO. Price
₹111.00
IPO Market price
₹269.09 Cr
IPO Details
| IPO Date | 7 Oct |
| IPO Listing Date | 7 Oct |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹111.00 |
| IPO Issue Size | 67,99,200 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | 100 % Book Building |
| IPO Listing | NSE SME Platform |
| hare Holding Pre Issue | 1,74,43,316 |
IPO Timeline
| IPO Open Date | 29 Sep |
| IPO Close Date | 1 Oct |
| IPO Allotment (Tentative) | 3 Oct |
| Refunds | 6 Oct |
| Credit to Demat Account | 6 Oct |
| IPO Listing Date | 7 Oct |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 32,13,600 Shares |
| NII (HNI) Shares Offered | 9,72,000 Shares |
| Retail Shares Offered | 22,72,800 Shares |
IPO Lot Size
Investors can bid for a minimum of 2,400 shares, with additional shares available in multiples of 1,200.
| Application | Lots | Share | 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 |
Established in October 1997, Suba Hotels Limited is a leading domestic hotel chain operating in India’s mid-market segment. The company manages a diversified portfolio across upscale, upper-midscale, midscale, and economy hotel categories, serving both domestic and international guests.
As of July 2025, Suba Hotels operates 88 hotels with a total of 4,096 keys across 50 cities, primarily in tier 2 and tier 3 markets. Additionally, 40 hotels are in the pre-opening phase, which will add 1,831 rooms to its portfolio.
The company’s operational model includes a mix of owned, managed, revenue share, leased, and franchised properties. As of July 31, 2025, the portfolio comprised:
* 5 owned hotels with 227 rooms
* 19 managed hotels with 156,551 rooms
* 14 revenue share & leased hotels with 823 rooms
* 48 franchised hotels with 2,469 rooms
Suba Hotels owns properties in key locations such as Ahmedabad, Bhuj, Junagadh, Vadodara (Gujarat), and Pithampur (Madhya Pradesh), strengthening its presence in strategic markets.
Competitive Strengths:
One of India’s leading domestic hotel chains in the mid-market segment with a differentiated business model
Wide geographic footprint across tier 2 and tier 3 cities
Established distribution network supporting strong occupancy and revenue
Expertise in acquiring underperforming hotels and enhancing performance through renovation or rebranding
Experienced promoters and management team with deep industry knowledge
Company Financials (Consolidated)
| Assets | 123.04 | 100.07 | 85.23 |
| Total Income | 79.98 | 53 | 35.2 |
| 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 | 18.7 |
| Total Borrowing | 50.23 | 45.73 | 46.09 |
Key Performance Indicator (KPI
| 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 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 14.52 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
Suba Hotels Ltd.
Hotel Suba Star, Judges Bungalow Road
Near Akash Tower
Bodakdev
Ahmedabad, Gujarat, 380015
Phone: +91-2266820707
Email: compliance@subahotels.com
Website: https://www.subahotels.com/
Detail Registrar
IPO Registrar
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
The Suba Hotels Limited IPO opened for subscription on September 29, 2025, and closed on October 1, 2025. The shares were listed on NSE SME on October 7, 2025.
The IPO was priced in the range of ₹105 to ₹111 per share with a face value of ₹10. The total fresh issue aggregated approximately ₹75 crore.
Retail investors were required to apply for a minimum of 2,400 equity shares, equivalent to 2 lots. The minimum investment amount was ₹2,66,400 at the upper price band.
The issue allocation was structured with 50% reserved for QIBs, 35% for retail investors, and 15% for High Net-worth Individuals (HNIs).
For FY2025, the company reported total income of ₹79.98 crore and profit after tax of ₹15.15 crore, reflecting strong growth compared to FY2024.
The company planned to utilize IPO proceeds for capital expenditure toward hotel upgradation and last-mile funding, along with general corporate purposes.
As of March 31, 2025, the company reported ROE of 31.82%, ROCE of 35.55%, PAT margin of 18.94%, EBITDA margin of 29.09%, and Debt/Equity ratio of 1.06.
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