Apeejay Surrendra Park Hotels Initial Public Offering (IPO), valued at Rs 920 crore, opened its subscription on Monday. As per the latest data provided by the NSE and BSE, the IPO has garnered significant attention from the market, displaying an oversubscription of 2.69 times.
Delving into the subscription figures, retail investors demonstrated good interest, registering a subscription rate of 6.14 times. Qualified Institutional Buyers (QIB) too showed solid response with a subscription rate of 1.23 times. In the non-institutional investors (NII) category, the subscription rate was 3.44 times on February 5.
Anchor investors contributed Rs 409.50 crores to the IPO, while QIBs and NIIs raised Rs 336.23 crores and Rs 469.02 crores, respectively. Retail investors made a substantial contribution, generating Rs 558.64 crores. The oversubscription and widespread investor interest affirm a robust response to the Apeejay Surrendra Park Hotels IPO.
Apeejay Surrendra Park IPO GMP
As per recent update, the Grey Market Premium (GMP) for the Apeejay Surrendra Park IPO is currently Rs 33.
Taking into account the price range of Rs 147 to Rs 155 per share, the anticipated listing price for the IPO is Rs 188 (the upper price limit plus the current GMP).
This shows a projected percentage gain or loss per share of approximately 21.29 percent.
Apeejay Surrendra Park IPO details
Apeejay Surrendra Park IPO, with a book-built issue size of Rs 920 crores, comprises a fresh issue worth Rs 600 crores and an offer for sale totaling Rs 320 crores. The subscription window for the IPO is open from February 5, 2024, to February 7, 2024, with allotment expected to be finalized on Thursday, February 8, 2024.
Also Read: Apeejay Surrendra Park Hotels IPO: Price Band, GMP, Issue Size and More
The tentative listing date on both BSE and NSE is set for Monday, February 12, 2024. Investors eyeing participation should take note that the IPO’s price band is fixed at Rs 147 to Rs 155 per share, and the minimum lot size for an application is 96 shares.
For retail investors, the entry threshold is a minimum investment of Rs 14,880. Non-institutional investors (NII) have a minimum lot size investment of 14 lots (1,344 shares), totaling Rs 208,320, while for big non-institutional investors (bNII), it stands at 68 lots (6,528 shares), amounting to Rs 1,011,840.
Inclusive of the offering, provision for employees is made, with a reservation of up to 675,675 shares offered at a discounted rate of Rs 7 to the issue price.
Jm Financial Limited, ICICI Securities Limited, and Axis Capital Limited are the appointed book running lead managers for the Apeejay Surrendra Park IPO, with Link Intime India Private Ltd serving as the registrar for the issue.
