Hotel Polo Towers Limited develops, owns, operates and manages a chain of upscale and mid‑scale hotels and resorts across Northeast, East and North India under the brand name “Polo” and “Max”.
It also offers MICE facilities – with multiple event and banquet spaces and operates both accommodation and food‑and‑beverage (F&B) services, diversifying its revenue streams beyond lodging.
Hotel Polo Towers has filed DRHP to raise funds which includes Fresh issue of ₹ 300 Crore & Offer-for-sale (OFS) of 71,20,030 Shares by promoters.
Subscription date to apply for Hotel Polo Towers Limited is yet to be announced.
Price band for the IPO is also pending to be declared.
| Issue Size: | ₹ 300 Crore + 71,20,030 Shares |
| Fresh Issue: | ₹ 300 Crore |
| Offer for Sale: | 71,20,030 Shares |
| Price Range: | TBA |
| Lot Size: | TBA |
Hotel Polo Towers Limited important data points:
Revenue, PAT, EBITDA
| Year | Fiscal 2025 |
| Networth | ₹ 112.1 Cr |
| Revenue: | ₹ 118 Cr |
| EBITDA | ₹ 55.1 Cr |
| PAT | ₹ 22.1 Cr |
| EBITDA Margin: | ~44.60% |
| PAT Margin | ~17.87% |
| Face Value: | ₹ 02 per Eq. Share |
IPO important dates
| Open Date: | TBA |
| Close Date: | TBA |
| Anchor Investor Bidding | TBA |
| Allotment Date: | TBA |
| Refunds & Demat Credit | TBA |
| Tentative Listing Date: | TBA |
Use of Proceeds
| Purpose | Amount |
| Borrowing payment | ~ ₹ 36.3 Cr |
| Establishing 2 New projects | ~ ₹ 75.5 Cr |
| Upgrading Existing Hotels | ~ ₹ 35.1 Cr |
| Investment in Subsidiaries | ~ ₹ 42.04 Cr |
Hotel Polo Towers Limited Promoters – Pre offer equity (Approx)
| Kishan Tibrewalla | ~31.29% |
| Prem Tibrewalla | ~24.15% |
| Deval Tibrewalla | ~23.30% |
| Kishan Tibrewalla HUF | ~21.26% |
Hotel Polo Tower Financial Data
| 2023 | 2024 | 2025 | |
| Revenue (₹ Cr) | ₹ 87.1 | ₹ 89.9 | ₹ 118.0 |
| Profit (₹ Cr) | ₹ 13.1 | ₹ 12.0 | ₹ 22.1 |
| Asset (₹ Cr) | ₹ 229.6 | ₹ 250.5 | ₹ 269.4 |
| Net Worth (₹ Cr) | ₹ 85.1 | ₹ 101.8 | ₹ 112.1 |
Hotel Polo Tower IPO Grey Market Premium
| Date | IPO Price | IPO GMP | Profit per lot |
| 26-Dec | ₹ – | ₹ – | ₹ – |
| 25-Dec | ₹ – | ₹ – | ₹ – |
| 24-Dec | ₹ – | ₹ – | ₹ – |
| 23-Dec | ₹ – | ₹ – | ₹ – |
| 22-Dec | ₹ – | ₹ – | ₹ – |
Hotel Polo Towers Limited IPO Pros & Cons
Strengths:
- Largest hotel group in Northeast India by number of properties.
- Strong revenue and profit growth over FY2023‑FY2025.
- Diversified offerings: hotels, cafés, and MICE services.
- High growth potential in under-penetrated regions.
- Improved balance sheet with lower debt-to-equity ratio.
Risks:
- Heavy reliance on Northeast India limits geographic diversification.
- Hospitality industry is cyclical and sensitive to economic downturns.
- Business depends mostly on the “Polo”/“Max” brand name.
- Expansion is capital-intensive and prone to cost overruns.
- Regulatory and operational risks could affect cash flows.
Hotel Polo Towers Limited Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | – | 1 | – | ₹ – |
| Retail (Max) | – | 13 | – | ₹ – |
| Small HNI (Min) | – | 14 | – | ₹ – |
| Small HNI (Max) | – | 66 | – | ₹ – |
| Big HNI (Min) | – | 67 | – | ₹ – |
Core Offerings of Hotel Polo Towers Limited
It develops, owns, operates and manages a chain of upscale and mid‑scale hotels and resorts under the “Polo” and “Max” brands, along with cafés/restaurants and banquet/MICE services.
Lead Managers / Registrars of Hotel Polo Towers Limited
| Lead / Book Running Lead Managers | Equirus Capital Private Limited, Motilal Oswal Investment Advisors Limited |
| Registrar (RTA) | MUFG Intime India Pvt Ltd |
Founding Year of Hotel Polo Towers Limited & Managing Director
Hotel Polo Towers Limited was incorporated on 7 February 1986.
Mr. Deval Tibrewalla is the MD & CEO of the company.
Hotel Polo Towers Limited FAQ
- Q1. What is the business of Hotel Polo Towers Limited?
It develops, owns, operates and manages a chain of upscale and mid‑scale hotels and resorts under its “Polo” and “Max” brands, across Northeast, East and North India — plus cafés/restaurants and banquet/MICE services. - Q2. Why is the company raising funds via IPO?
Company is raising funds to expand or upgrade existing properties, fund new hotels/resorts, meet capital expenditure, repay debt, and support general corporate purposes. - Q3. What is the size of the issue and where will it list?
IPO proposes a fresh issue of up to ₹300 crore plus an Offer-for-Sale of up to 71.2 lakh shares. It will be listed on the BSE & NSE platform. - Q4. What are the risks to an investor?
The risks to invest in the IPO include heavy reliance on regional and tourism‑dependent demand, sensitivity to seasonality and connectivity and cost‑intensive expansions. - Q5. What are the potential upsides?
The positives of investing in it includes its business hold in Northeast India in hotel group by having large number of hotels, a diversified hospitality‑plus‑F&B/MICE business mix, improving profitability and strong growth potential as tourism and regional infrastructure improve. - Q6. How to apply for the IPO?
You can apply in the IPO via your demat account/broker or ASBA facility during the subscription window once dates are announced. - Q 7. When is the tentative listing date?
Expected listing date is yet to announced.
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