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Suba Hotels IPO

SME

Open Date

29 Sep 2025

Close Date

1 Oct 2025

Min Investment

₹ 2,66,400

Lot Size

1,200

Issue Size

₹ 75.47 Cr

Price Range

₹ 105 - ₹ 111

Subscribed

10.98 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
29 Sep 2025
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IPO Offer Ends
1 Oct 2025
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Allotment Finalisation
3 Oct 2025
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Refund Initialisation
6 Oct 2025
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Non-Institutional Buyers (sHNI)
6 Oct 2025
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Listing of Shares
7 Oct 2025
IPO Subscription Details as on 4 Apr 2026, 10:56 PM
Qualified Instituational Buyers (QiB)
17.52 x
Retail
4.88 x
Total
10.98 x
Non-Institutional Buyer (bHNI)
20.87 x
Non-Institutional Buyer (sHNI)
7.87 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Suba Hotels Limited is one of India's largest domestic hotel chains in the mid-market sector with 88 operational hotels as of July 2025, comprising 4,096 keys across over 50 cities, with around 81% located in emerging markets in tier 2 and 3 cities. The company also maintains a portfolio of 40 hotels in the pre-opening phase, encompassing 1,831 rooms. The company operates in the mid-market hotel sector, consisting of upscale, upper-midscale, midscale, and economy brands both domestic and international. The company primarily caters to guests across business, leisure, and religious tourism, delivering superior service standards at attractive price points. The company's hotel portfolio encompasses a diverse range of business models, including owned, managed, revenue share & lease, and franchised properties. As of July 31, 2025, the company's portfolio of operating hotels consists of 5 owned hotels with 227 rooms, 19 managed hotels with 823 rooms, 16 hotels on revenue share & lease basis with 577 rooms and 48 franchised hotels with 2,469 rooms. The company has been promoted by Mansur Mehta and Mubeen Mehta, with Mansur Mehta having approximately three decades of experience in the hospitality industry, beginning with the development of the first hotel, The Suba Palace, in Colaba, Mumbai in 1994. The company acquired master franchise rights from Choice Hotels Licensing B.V. for their three brands in India - Clarion (upscale), Quality (upper midscale) and Comfort (midscale) for a period of fifteen years with an option to extend mutually for five years. The company's diverse range of hotel categories and extensive portfolio of domestic and international brands are strategically designed to cater to various market segments, positioned in prime locations and competitively priced to offer exceptional value.
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Founded In

1997

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CEO

Mubeen Mehta

Financials of Suba Hotels IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue3,503.305,227.657,924.32
Other Income16.5771.9674.17
Total Income
3,519.865,299.617,998.49
Total Expenses
2,914.924,167.536,065.49
Profit Before Tax604.951,132.081,933.00
Total Profit
278.32895.871,515.14

All figures are in lakhs (₹)

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Utilisation of Proceeds

All figures are in lakhs (₹)

PurposeAmount
The company intends to use the funds for upgrading and last-mile funding of hotel premises. This includes renovation, refurbishment, and modernization of existing properties as well as setting up new leasehold properties. The objective is to enhance guest experiences, improve operational efficiency, and maintain a competitive edge.5,348
The company plans to use the remaining proceeds for general corporate purposes such as business development initiatives, meeting expenses like salaries, rent, administration costs, insurance premiums, repairs and maintenance, payment of taxes and duties, and other similar expenses incurred in the ordinary course of business.-
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  • One of India's leading domestic hotel chains in the mid-scale sector with a differentiated business model: The company is one of India's largest domestic hotel chains in the mid-market sector with 88 operational hotels as of July 2025, comprising 4,096 keys across over 50 cities, around 81% of which are located in emerging markets in tier 2 and 3 cities. The hotel chain also boasts a portfolio of 40 hotels in the pre-opening phase, encompassing 1,831 rooms. The company's reliance on managed, revenue share & lease, and franchised hotels allows it to reduce capital expenditures and increase profitability.
  • Wide geographical coverage: The company has a wide geographical presence across India, with 65% of its properties situated in previously untapped destinations. Its hotels are strategically located in close proximity to central and secondary business districts, SEZs, industrial centers, airports, ports, railway terminus and other demand drivers. Operating in various regions allows the company to tap into different markets, reducing reliance on any single market.
  • Established distribution network: The company has an established sales and marketing network operating out of hotels located in North, South, and West India. A dedicated team of 30 sales executives drives presence across market segments, attracting corporate travellers from sectors such as BFSI, IT/ITES, FMCG, Pharmaceutical, and PSUs. The company also has an online distribution presence through its brand website and collaborations with leading online travel agents (OTAs).
  • Ability to acquire non / underperforming hotels and demonstrated track record to re-rate hotel's performance through renovation and / or rebranding: The company has a proven track record of identifying and acquiring dislocated or underperforming hotel assets and significantly enhancing their performance and value through comprehensive renovation and rebranding plans. The company prioritizes modernizing infrastructure, implementing eco-friendly technologies, and expanding wellness amenities to enhance the overall guest experience.
  • Experienced promoters and management team: The company benefits from the experience of its management team who has extensive knowledge in the hospitality industry, including operations and business development. The promoters, Mansur Mehta and Mubeen Mehta, provide guidance and oversee overall performance. The management team continues to focus on new growth areas in service segments.

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