Apeejay Surrendra Park Hotels IPO: Check Out Price Band, Issue Size & More
by Sandip Das on 5 February 2024, 5 min read
Apeejay Surrendra Park Hotels opened its initial public offering (IPO) for subscription on February 5, 2024, and will close on February 7, 2024. The company has fixed the IPO price at Rs 147 to Rs 155 per share. The hospitality company’s IPO is a book-built issue of Rs 920 crore, consisting of a fresh issue of Rs 600 crore and an offer for sale of Rs 320 crore.
About the company:
Apeejay Surrendra Park Hotels Limited (ASPHL) holds the eighth position among hotel chains with asset ownership in India. ASPHL operates under five brands – THE Park, THE Park Collection, Zone by The Park, Zone Connect by The Park, and Stop by Zone. The company has hotels situated in Bangalore, Chennai, Goa, Hyderabad, Indore, Kolkata, Mumbai, Navi Mumbai, New Delhi, and Visakhapatnam.
The company has fixed the IPO price at Rs 147 to Rs 155 per share.
The hospitality company’s IPO is a book-built issue of Rs 920 crore. It consists of a fresh issue of Rs 600 crore and an offer for sale of Rs 320 crore.
Qualified institutional investors (QIBs): The company will be offering 75% of the net offering
Non-institutional investors (NIIs): 15% of the net offering
Retail investors: 10% of the net offer
Objectives of the Issue
The company intends to use the net proceeds for the repayment or prepayment, either in full or in part, of certain outstanding borrowings availed by the company, as well as for general corporate expenses.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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