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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.
Apeejay Surrendra Park IPO Overview
| 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 IPO Timeline (Tentative Schedule)
| 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 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 IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 26,419,354 (44.49%) | NA | QIB Shares Offered | 17,612,903 (29.66%) | NA |
| NII (HNI) Shares Offered | 8,806,452 (14.83%) | |
| bNII > ₹10L | 5,870,967 (9.89%) | 4,368 |
| sNII < ₹10L | 2,935,484 (4.94%) | 2,184 |
| Retail Shares Offered | 5,870,968 (9.89%) | 61,155 |
| Employee Shares Offered | 675,675 (1.14%) | NA |
| Total Shares Offered | 59,385,352 (100%) |
Apeejay Surrendra Park IPO Promoter Holding
| Share Holding Pre Issue | 94.18% |
| Share Holding Post Issue | 68.13% |
Apeejay Surrendra Park IPO Anchor Investors Details
| Bid Date | February 2, 2024 |
| Shares Offered | 26,419,354 |
| Anchor Portion Size (In Cr.) | 409.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 9, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 8, 2024 |
Company & Financials
The first hotel in THE Park Hotel group opened on 1st November 1967 with 149 rooms on the fashionable Park Street in Kolkata. The ever-evolving street lends its name and character to the Company. The following year, a beautiful beachside hotel THE Park Visakhapatnam became the group’s second hotel and the first deluxe hotel of Andhra Pradesh. THE Park New Delhi was launched in November 1987, in the heart of the Capital on Parliament Street with 220 rooms. THE Park Bangalore, an urban retreat, with 109 rooms opened its doors in 2000 in the Silicon City of India. In May 2002, THE Park Chennai, an urban haven of 214 rooms, opened on Anna Salai - the heart of the business district of Tamil Nadu's vibrant capital. In February 2007, THE Park Navi Mumbai opened. THE Park Hyderabad, a certified ‘green’ building with 270 rooms, opened in March 2010. The Group launched its first hotel in Goa in 2011 that overlooks the splendid Arabian Sea. The 30-room THE Park Calangute is a beachfront gem in the heart of the buzzing Calangute strip in Goa. THE Park Baga River Goa with 28 bedrooms, is the first of THE Park Hotels to be an adults-only hotel (over 18) and is one of the few boutique adults-only hotels in all of India. In December 2020, THE Park Indore, a chic, modern and eclectic 99-room hotel was launched in the cleanest city of India.
Apeejay Surrendra Park Hotels Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 1,382.51 | 1,361.79 | 1,275.18 | 1,280.34 | ||||||||||||||||||||||||||||||||||||
| Revenue | 272.31 | 524.43 | 267.83 | 190.29 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 22.95 | 48.06 | -28.20 | -75.88 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 578.71 | 555.68 | 508.51 | 536.28 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 561.24 | 538.22 | 491.05 | 518.81 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 597.09 | 566.88 | 622.68 | 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.
FAQs for Apeejay Surrendra Park IPO
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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.
-
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.
-
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.
-
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).
Apeejay Surrendra Park IPO Subscription Status
Category
Subscription (times)
QIB
79.23
NII
55.26
bNII (bids above ₹10L)
61.55
sNII (bids below ₹10L)
42.68
Retail
32.00
Employee
5.73
Total
62.91
RHP:
RHP of Apeejay Surrendra Park Hotels Limited IPO
DRHP:
DRHP of Apeejay Surrendra Park Hotels Limited IPO
Anchor Investor Link:
Anchor Investor Link of Apeejay Surrendra Park Hotels Limited IPO
-
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.
-
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.
-
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.
-
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.
-
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).
Apeejay Surrendra Park IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| QIB | 79.23 |
| NII | 55.26 |
| bNII (bids above ₹10L) | 61.55 |
| sNII (bids below ₹10L) | 42.68 |
| Retail | 32.00 |
| Employee | 5.73 |
| Total | 62.91 |
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