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Apeejay Surrendra Park Hotels Limited IPO
Apeejay Surrendra Park Hotels Limited (ASPHL) is the 8th largest hotel chain amongst 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. With a long-standing expertise of over five decades in the hospitality business of owning and operating hotels, the group pioneered the concept of luxury boutique hotels in India under its brand, THE Park, extending it further through THE Park Collection and in upper midscale categories with the brands Zone by The Park and Zone Connect by The Park, and the recently launched Stop by Zone. All based in prime downtown locations, they are presently located in Bangalore, Chennai, Goa, Hyderabad, Indore, Kolkata, Mumbai, Navi Mumbai, New Delhi and Visakhapatnam. The group will also be opening soon in Chettinad, Patiala, Pune, and Kolkata.
ASPHL’s first hotel was launched under the brand THE Park at the iconic Park Street in Kolkata. Apeejay Surrendra Park IPO is a book built issue of Rs 920.00 crores. The issue is a combination of fresh issue of 3.87 crore shares aggregating to Rs 600.00 crores and offer for sale of 2.06 crore shares aggregating to Rs 320.00 crores. Apeejay Surrendra Park IPO price band is set at ₹147 to ₹155 per share. The minimum lot size for an application is 96 Shares. Jm Financial Limited, ICICI Securities Limited and Axis Capital Limited are the book running lead managers of the Apeejay Surrendra Park IPO, while Link Intime India Private Ltd is the registrar for the issue.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Apeejay Surrendra Park Hotels Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Apeejay Surrendra Park Hotels Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 5, 2024 to February 7, 2024 |
| Listing Date | February 12, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹147 to ₹155 per share |
| Lot Size | 96 Shares |
| Total Issue Size | 59,354,838 shares (aggregating up to ₹920.00 Cr) |
| Fresh Issue | 38,709,677 shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | 20,645,161 shares of ₹1 (aggregating up to ₹320.00 Cr) |
| Employee Discount | Rs 7 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 174,661,760 |
| Share holding post issue | 213,371,437 |
Apeejay Surrendra Park Hotels Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Monday, February 5, 2024 |
| IPO Close Date | Wednesday, February 7, 2024 |
| Basis of Allotment | Thursday, February 8, 2024 |
| Initiation of Refunds | Friday, February 9, 2024 |
| Credit of Shares to Demat | Friday, February 9, 2024 |
| Listing Date | Monday, February 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 7, 2024 |
Apeejay Surrendra Park Hotels Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 96 | ₹14,880 |
| Retail (Max) | 13 | 1248 | ₹193,440 |
| S-HNI (Min) | 14 | 1,344 | ₹208,320 |
| S-HNI (Max) | 67 | 6,432 | ₹996,960 |
| B-HNI (Min) | 68 | 6,528 | ₹1,011,840 |
Apeejay Surrendra Park Hotels Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 94.18% |
| Share Holding Post Issue | 68.13% |
Competitive Strength:
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Apeejay Surrendra Park Hotels Limited IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 1,382.51 | 272.31 | 22.95 | 578.71 | - | 597.09 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1,361.79 | 524.43 | 48.06 | 555.68 | - | 566.88 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 1,275.18 | 267.83 | -28.20 | 508.51 | - | 622.68 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2021 | 1,280.34 | 190.29 | -75.88 | 536.28 | - | 593.44 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | 0.99 |
| RoNW | 9.03% |
| P/BV | 4.87 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.75 | 2.15 |
| P/E (x) | 56.33 | 72.05 |
Objectives of Apeejay Surrendra Park IPO
The company proposes to utilize the Net Proceeds towards funding the following objectives:
- 1. Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by the Company.
- 2. General corporate purposes.
Apeejay Surrendra Park IPO Review
A niche player and leader of the segment with the highest occupancy count, this IPO is sure to attract fancy post listing. A larger chunk of primary issue will be used to cut its debts and resultant boosted bottom line with lower finance cost. With its expansion plans afoot, it is poised for bright prospects. Off late we are also witnessing fancy hospitality segment counters. Investors may park funds for the medium to long term rewards.
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Frequently Asked Questions (FAQs)
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What Is The Size Of The Apeejay Surrendra Park IPO?
Apeejay Surrendra Park’s IPO consists of a fresh issue of shares worth INR 600 crores and an offer to sell 320 crores of existing equity shares. The company seeks funds for repayment, prepayment, and general corporate purposes.
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What Is The Price Band Of The Apeejay Surrendra Park IPO?
The price band of the Apeejay Surrendra Park IPO shares issued by the company is INR 147-155 per share.
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What are the open and close dates for Apeejay Surrendra Park Hotels Ltd IPO?
Apeejay Surrendra Park Hotels Ltd IPO Opens for subscription from 05-Feb-2024 to 07-Feb-2024.
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What is the lot size and minimum order quantity of the Apeejay Surrendra Park Hotels Ltd IPO?
The lot size of Apeejay Surrendra Park Hotels Ltd is 96 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14880 and ₹193440 respectively.
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Where is the Apeejay Surrendra Park Hotels Ltd IPO getting listed?
The shares of Apeejay Surrendra Park Hotels Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
