Apeejay Surrendra Park Hotels IPO: This IPO of Rs 920 crore is about to open, gray market premium has already reached the sky

Apeejay Surrendra Park Hotels IPO: This IPO of Rs 920 crore is about to open, gray market premium has already reached the sky

Apeejay Surrendra Park Hotels IPO: For those investing money in IPO, Apeejay Surrendra Hotels, the parent company of The Park brand, is coming with its IPO. This initial public offering is opening tomorrow i.e. Monday 5th February. The company is trying to collect Rs 920 crore through this IPO. In this issue, a total of fresh shares worth Rs 600 crore will be issued and shares worth Rs 320 crore will be sold through offer for sale. If you are also thinking of investing in this IPO, then we are giving you information about its details.

Know important dates related to IPO-

APJ Surendra Park Hotels' IPO is opening on 5 February 2024. Investors can bid in this till 7th February. The company will allot shares on February 8. Whereas unsuccessful investors will receive refund on February 9. The shares will be transferred to the demat account on 9 February. The listing of shares is going to happen on 12th February. This listing will be done on BSE and NSE.

What is the price band of shares?

The company has fixed the price band of shares between Rs 147 to Rs 155 per share. The face value of these shares is Rs 1 per share. The company is offering shares to its employees at a discount of Rs 7 per share. Retail investors can bid for a minimum lot size i.e. at least 96 shares.

Bidding can be done on a maximum of 13 lots i.e. 1248 shares. In such a situation, bids can be made ranging from Rs 14,880 to Rs 1,93,440. In this IPO, 75 percent share has been reserved for qualified institutional buyers, 10 percent share for retail investors and 15 percent share for high net individuals.

What is the condition of GMP?

The issue of this company related to the hospitality sector is already indicating good listing in the gray market. The company's GMP is currently at Rs 65 per share. In such a situation, if this situation continues till the day of listing, then the shares of the company can be listed at Rs 220 with a premium of 41.94 percent. Of the amount raised through IPO, the company will use Rs 550 crore to repay its debt and fulfill general corporate purposes. The company has collected Rs 409.5 crore through anchor round.

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