Unlock investment potential with Apeejay Surrendra Park Hotels IPO: The Delhi-based company Apeejay Surrendra Park Hotels, a luxury hotel operator, is set to launch its Initial Public Offering (IPO). The public offer will hit the market on Monday, February 5, 2024. The company has fixed the price band for the IPO (Park Hotel IPO) at Rs 147 to Rs 155 per share with a face value of Re 1.
Investors can bid in this IPO starting from February 5. The IPO subscription will remain open until February 7, 2024. Anchor investors placed their bids on February 2. The allocation of shares based on Apeejay Surrendra Park Hotels’ IPO will be finalized on February 8, and the company will initiate the refund process on February 9, for those applicants who do not receive shares. Those who are allotted shares will have them credited to their demat accounts on the same day.
Apeejay Surrendra Park Hotels’ shares are likely to be listed on the BSE and the NSE on February 12, 2024.
What is the price band?
The company has kept the face value of each share at one rupee for this IPO. Its price band has been fixed at Rs 147 to Rs 155. Meaning its floor price is 147 times the face value of the equity shares, and the cap price is 155 times the face value of the equity shares.
Shares are reserved for retail investors
Apeejay Surendra Park Hotels IPO will offer at least 75% of the shares in the public issue to qualified institutional buyers (QIBs), not more than 15% to non-institutional institutional investors (NIIs) and 10 percent to retail investors. Shares have been reserved.
What is the size of IPO?
The IPO size of APJ Surrendra Park Hotel is Rs 920 crore. This includes fresh equity issue of Rs 600 crore and offer-for-sale (OFS) of Rs 320 crore. The funds raised through the IPO will be used for normal corporate operations as well as full or partial return or prepayment of any outstanding borrowings taken by the company. The promoter of this company, Apeejay Private Ltd, will sell shares worth Rs 296 crore. Apart from these, RECP IV Park Hotel Investors Limited will sell shares worth Rs 23 crore, and RECP IV Park Hotel Co-Investors Limited will also sell shares worth Re 1 crore.
Who is the registrar of the issue?
The registrar of APJ Surrendra Park IPO is Link Intime India Private Ltd. Its book running lead managers are JM Financial Limited, ICICI Securities Limited and Axis Capital Limited.
What is the GMP of this IPO?
Trading of APJ Surrendra Park Hotels Limited has not yet started in the gray market. Therefore, there is no gray market premium information regarding the IPO of this company right now. Will update you as soon as information regarding this comes.
