BasicFintech
GMP
SME IPOupcomingBSE SME

Larisa Hotels & Resorts IPO

Larisa Hotels & Resorts IPO is an SME issue scheduled to open for subscription on — and closed on —.

Price Band
TBA
GMP
—
Subscription
—
Listing
—
Apply via UpstoxApply via Angel OneApply via Groww

Overview

Larisa Hotels & Resorts IPO is an SME issue scheduled to open for subscription on — and closed on —.

IPO Details

Larisa Hotels & Resorts IPO is a Small and Medium Enterprise (SME) initial public offering scheduled to open for subscription on BSE SME. The issue has a price band of TBA per equity share with a lot size of TBA shares, translating to a minimum retail investment of TBA.

The issue size is yet to be confirmed, and subscription dates are yet to be announced. Allotment is expected on — and the equity shares are scheduled to list on —.

Type
SME
Status
upcoming
Price band
TBA
Face value
₹10 (typical)
Lot size
—
Min investment (Retail)
TBA
Issue size
—
Fresh issue
—
OFS
₹0 Cr
Exchange
BSE SME
ISIN
TBA
Sector
Hospitality

Market Lot

Market lot details will be available once the price band and lot size are finalised in the Red Herring Prospectus.

IPO Reservation

Per SEBI guidelines, Larisa Hotels & Resorts IPO reserves shares across investor categories as follows. Final allotment percentages may vary slightly based on the final issue document.

Category% ReservedNotes
QIBUp to 50%Mutual funds, FIIs, banks
NII / HNIUp to 15%Bids ≥ ₹2 lakh
RetailAt least 35%Bids up to ₹2 lakh

Important Dates

  1. Issue Open
    — · Subscription opens
  2. Issue Close
    — · Subscription closes
  3. Allotment
    — · Basis of allotment finalised
  4. Refunds Initiated
    — · Funds released for non-allottees
  5. Listing Date
    — · Shares debut on the exchange

Grey Market Premium

Grey Market Premium for Larisa Hotels & Resorts is yet to be tracked. We update GMP from multiple grey market sources during the subscription window. Bookmark this page and check IPO GMP Today for live updates.

Subscription Status

Larisa Hotels & Resorts IPO subscription tracking will go live once the subscription window opens. Category-wise data (Retail / NII / QIB / Employee) will be available on IPO Subscription Status.

Allotment Status

Larisa Hotels & Resorts IPO allotment will be finalised by the registrar (Maashitla Securities) on —. Check your allotment status using your PAN, application number, or DP ID via our allotment status checker or directly on the registrar's website.

If allotment fails, the blocked funds via ASBA / UPI mandate are released back within 24-48 hours. Applying through multiple demat accounts in family members' names improves chances on oversubscribed IPOs.

About Larisa Hotels & Resorts

Larisa Hotels & Resorts Limited, incorporated in 1986 and headquartered in West Bengal, is a multi-brand mid-scale hospitality operator with a focused presence in the Indian leisure-and-business hotel category. The 'LaRiSa' brand name derives from the Lahaul region of Himachal Pradesh, translating to 'Above the Mountains and Earth' — a positioning aligned with the company's significant cluster in Himachal Pradesh leisure-destination properties. The operational portfolio at IPO comprises 25 properties with 715 keys across three operating brands: 8fold by Larisa (the upscale brand), Larisa Homes (boutique-luxury format), and AM Hotel Kollection (the mid-scale extended-stay format). A pipeline of 10 additional properties with 291 keys is in development, signalling continued aggressive expansion plans. Indian mid-scale hospitality has been one of the better-performing post-COVID recovery categories. Domestic leisure tourism rebounded strongly through 2022-26, supported by improved discretionary income, weekend-getaway preferences, and the rise of remote/hybrid work enabling longer mid-week leisure stays. Mid-scale operators (Larisa's category) typically achieve better Occupancy + ARR economics than luxury-tier peers because they capture the largest segment of Indian domestic tourism demand. The BSE SME issue is structured as a fresh issue of up to 0.37 crore equity shares (face value ₹10), with no OFS component. Lead manager Unistone Capital and registrar Maashitla Securities are positioned for SME-scale book-build. Exact issue size, price band, and dates are pending RHP publication.

Promoter & Holding Pattern

The promoter and promoter group hold the majority stake in Larisa Hotels & Resorts prior to the IPO. Post-listing, this percentage will reduce as new equity shares are issued to the public. Detailed pre-IPO and post-IPO promoter holding data will be updated once the Red Herring Prospectus is finalised with SEBI.

Objects of the Issue

Larisa Hotels & Resorts IPO proceeds will be utilised across the following objectives, as disclosed in the Red Herring Prospectus:

PurposeAmount (₹ Cr)% of Issue
Fresh issue — likely property acquisition / development capex, brand expansion, working capital, and general corporate purposes (exact split per RHP)—100.00%

Financial Performance

Larisa Hotels & Resorts's three-year financials — revenue, PAT, assets, net worth — will be displayed here based on audited numbers from the Red Herring Prospectus. Year-on-year growth, EBITDA margins, debt-to-equity progression, and RoNW together form the basis for valuation comparison.

Valuation Snapshot

Key valuation metrics for Larisa Hotels & Resorts — RoE, RoCE, EBITDA margin, PAT margin, debt-to-equity, EPS, P/E ratio, RoNW, NAV — will be updated based on FY25 numbers from the Red Herring Prospectus.

Peer Comparison

Listed peers in the Hospitality sector with key valuation metrics:

CompanyEPS (₹)P/E RatioRoNW (%)NAV (₹)Income (₹ Cr)
Lemon Tree Hotels—————
Chalet Hotels—————
Park Hotels (Apeejay Surrendra)—————

Anchor Investors

Anchor investor bidding for Larisa Hotels & Resorts typically opens one working day before the issue opens to the public. Anchor investors — mutual funds, FIIs, sovereign wealth funds, and insurance companies — collectively subscribe to a portion of the QIB segment. Their participation signals institutional confidence. Anchor list and total amount will be updated once SEBI publishes the anchor filing.

Lead Managers (Merchant Bankers)

  • Unistone Capital

IPO Registrar

Maashitla Securities

The registrar processes all bid applications, finalises the basis of allotment, manages refunds, and credits allotted shares to successful applicants' demat accounts.

Editorial Review

Larisa Hotels & Resorts is an upcoming BSE SME hospitality issue. Incorporated 1986, the company has scaled to 25 operational properties (715 keys) across three brands (8fold by Larisa, Larisa Homes, AM Hotel Kollection) with a 10-property / 291-key pipeline. The fresh-issue structure (~0.37 crore equity shares, no OFS) means proceeds will reach the operating business for continued expansion. The mid-scale hospitality category has been one of the strongest post-COVID recovery stories in Indian consumer services. Domestic leisure tourism, weekend-getaway demand, and longer mid-week leisure stays driven by remote work all support Occupancy and ARR economics for mid-scale operators. Listed mainboard peers Lemon Tree Hotels and Chalet Hotels have re-rated meaningfully through 2022-26 — but their multiples set a high bar for SME peers like Larisa to match. What the bull case rests on: (1) post-COVID domestic-tourism tailwind continues — mid-scale category captures the largest demand segment; (2) 40-year operating history provides multi-cycle business-cycle resilience; (3) multi-brand format (8fold + Larisa Homes + AM Hotel) allows market-segment flexibility; (4) Himachal Pradesh leisure-destination cluster aligns with domestic-tourism geography; (5) 10-property pipeline (291 keys) means expansion runway is already mapped — fresh-issue proceeds fund execution, not search. What the bear case rests on: (1) BSE SME structural liquidity constraints — small float, wide bid-ask spreads, limited institutional follow-on coverage; (2) hospitality is capital-intensive — each property requires meaningful capex; SME-scale fresh-issue may not adequately fund the 10-property pipeline; (3) competitive intensity in mid-scale category — Lemon Tree, Treebo, Oyo Rooms (listed/unlisted), and large independent operators all compete on the same demand TAM; (4) leisure-destination concentration in Himachal Pradesh creates state-cyclical risk (extreme weather events, regional infrastructure disruption); (5) RHP-disclosure pending — exact issue size, price band, financials, occupancy rates, ARR, EBITDA per available room (EPAR), all not yet public. Neutral pre-RHP. For SME-IPO category investors who want exposure to the mid-scale hospitality recovery thesis, Larisa is a credible operator with multi-brand format. But BSE SME structural limitations cap re-rating path, and the issue size is RHP-disclosure dependent. Wait for the full RHP with specific issue size, financial granularity, and operating metrics (Occupancy, ARR, EPAR). Compare against Lemon Tree Hotels trailing multiples when announced. Sizing modest given SME-IPO category structural constraints.

How to Apply for Larisa Hotels & Resorts IPO

  1. Open broker app — Zerodha, Upstox, Angel One, Groww, 5paisa, ICICI Direct, or any other SEBI-registered broker. Navigate to the IPO section.
  2. Select Larisa Hotels & Resorts IPO during the bidding window (— – —).
  3. Enter bid details — minimum TBA shares per lot. Retail investors are recommended to bid at cut-off price (upper band).
  4. Submit UPI ID linked to a SEBI-approved bank.
  5. Approve UPI mandate from your UPI app within the deadline. Bid amount is blocked, not debited.
  6. Await allotment on —.
  7. Listing day — shares list on BSE SME on —.

Risk Factors

1. BSE SME structural liquidity — small float, wide bid-ask spreads, limited institutional follow-on coverage. Exit at fair value is materially harder than for mainboard hospitality peers. 2. Capital-intensity of hospitality — each new property requires meaningful capex (land/lease + construction + furnishing + working capital). SME-scale fresh-issue may not fully fund 10-property / 291-key pipeline. 3. Competitive intensity in mid-scale — Lemon Tree Hotels, Treebo, Oyo Rooms, and large independent operators all compete on the same demand TAM. Margin compression risk over multi-year horizon. 4. Geographic concentration — Himachal Pradesh leisure-destination cluster creates state-cyclical risk (extreme weather events, monsoon flooding, regional infrastructure disruption affecting connectivity to tourists). 5. Multi-brand operational complexity — three brands (8fold + Larisa Homes + AM Hotel) require differentiated marketing, channel-management and operating playbooks. Brand-mix optimisation risk at SME scale. 6. RHP-disclosure pending — issue size, price band, dates, occupancy rates, ARR, segment-wise financials, promoter holding pre/post — all not yet public. 7. Domestic-tourism cycle dependency — post-COVID recovery has been strong but is cyclical. Any economic slowdown or extended monsoon disruption can compress mid-scale demand.

Larisa Hotels & Resorts IPO — FAQs

What is Larisa Hotels & Resorts IPO?▾
Larisa Hotels & Resorts IPO is a Small and Medium Enterprise (SME) initial public offering listing on BSE SME. The issue opens on — and closes on — with a price band of TBA per share.
What is the Larisa Hotels & Resorts IPO price band?▾
The price band for Larisa Hotels & Resorts IPO is TBA per equity share of face value ₹10 (typical). Retail investors are recommended to bid at the upper band (cut-off price).
What is the Larisa Hotels & Resorts IPO lot size?▾
The minimum lot size for Larisa Hotels & Resorts IPO is TBA shares per application. Minimum retail investment at the upper price band works out to approximately TBA.
When is the Larisa Hotels & Resorts IPO opening date?▾
Larisa Hotels & Resorts IPO opens for subscription on — and closes on —.
When is the Larisa Hotels & Resorts IPO allotment date?▾
Basis of allotment is expected on —. Check your status on Maashitla Securities's website using your PAN.
When is the Larisa Hotels & Resorts IPO listing date?▾
Larisa Hotels & Resorts shares are expected to list on BSE SME on —.
What is the GMP of Larisa Hotels & Resorts IPO?▾
GMP for Larisa Hotels & Resorts is not currently tracked.
Who is the registrar of Larisa Hotels & Resorts IPO?▾
Maashitla Securities is handling allotment, refunds, and dematerialisation for Larisa Hotels & Resorts IPO.
How can I apply for Larisa Hotels & Resorts IPO?▾
Apply via any SEBI-registered broker (Zerodha, Upstox, Angel One, Groww, 5paisa, ICICI Direct) during the open window. Use UPI mandate or ASBA for fund blocking. Bid at cut-off for retail category.
What is the minimum investment?▾
Minimum retail investment is approximately TBA (1 lot × TBA shares at upper band).
Should I apply for Larisa Hotels & Resorts IPO?▾
Whether to apply depends on your goals, risk appetite, and the company's fundamentals. Review the RHP, compare valuation with peers, and consult a SEBI-registered advisor.
What happens if my allotment fails?▾
Bid amount blocked via UPI/ASBA is released back within 24-48 hours. Apply through multiple family demat accounts to improve odds on oversubscribed issues.

Information shown is for educational purposes and does not constitute investment advice. GMP values are unofficial estimates from informal grey market sources. Please read the offer document (Red Herring Prospectus) carefully before investing.

Data sourced from NSE, BSE, the issue's registrar, and public filings. BasicFintech is not affiliated with the issuing company, its underwriters, or the exchanges.

GMP TodayAllotmentOpen Demat