These days a lot of activity is being seen in the IPO market. Recently many IPOs have come in the market. Last week the IPO of TVS Supply Chain came. In the coming days, the first IPO of Tata Group in two decades is going to come. To take advantage of the improved conditions in the market, many companies are coming up with IPOs, which is benefiting investors as they are getting opportunities to earn in the market.
Runs many hotels across the country
Now a new name is going to be added to the companies that bring IPO, Apeejay Surrendra Park Hotels Ltd. This company operates five-star hotels in many cities of the country under the name The Park Hotels. Apart from The Park, the company also has hotel brands such as The Park Collection and Zone by Park. In this way, this company is a well-known name in the country’s hospitality sector.
Itna Bada Rahega IPO
The company is going to come up with its IPO soon, for which it has filed a complaint with market regulator SEBI. Has filed the draft ie DRHP. According to the draft paper, the size of the IPO of APJ Surendra Park Hotels Limited is going to be Rs 1,050 crore. The company’s IPO will consist of both a fresh issue of shares and an offer for sale.
OFS will also be included in the IPO
According to DRHP, Park Hotels IPO will offer shares worth Rs 650 crore. Fresh issue and offer for sale of Rs 400 crore will be included. Under the offer for sale, the promoters of the company, APJ Surendra Trust and APJ Pvt Ltd, will sell shares worth Rs 80 crore and Rs 296 crore, respectively. RECP-4 Park Hotel Investors & Co-Investors will also encash part of the stake in the OFS.
Proceed to be used here
APJ Surendra Park Hotels Limited is the country’s 8th largest hotel chain company Is. He has over 5 decades of experience in the ownership and operation of hotels. The company’s portfolio includes 27 hotels. Apart from this, the company operates about 80 restaurants, night clubs and bars. The company will use the proceeds from the IPO to repay debt and meet corporate needs.
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