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Apeejay Surrendra Park Hotels IPO is a book build issue of ₹920.00 crores. The issue is a combination of fresh issue of 3.87 crore shares aggregating to ₹600.16 crores and offer for sale of 2.06 crore shares aggregating to ₹319.84 crores.
Apeejay Surrendra Park Hotels IPO bidding started from Feb 5, 2024 and ended on Feb 7, 2024. The allotment for Apeejay Surrendra Park Hotels IPO was finalized on Feb 8, 2024. The shares got listed on BSE, NSE on Feb 12, 2024.
Apeejay Surrendra Park Hotels IPO price band is set at ₹155.00 per share . The lot size for an application is 96. The minimum amount of investment required by an retail is ₹14,112 (96 shares). The lot size investment for sNII is 14 lots (1,344 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (6,528 shares), amounting to ₹10,11,840.
The issue includes a reservation of up to 6,75,675 shares for employees offered at a discount of ₹7.00 to the issue price.
JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Apeejay Surrendra Park Hotels IPO RHP for detailed Information.
| IPO Date | February 5, 2024 to February 7, 2024 |
| Listing Date | February 12, 2024 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹147 to ₹155 per share |
| Issue Price Final | ₹155 per share |
| Lot Size | 96 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 5,93,57,646 shares (aggregating up to ₹920.00 Cr) |
| Fresh Issue | 3,87,22,118 shares (aggregating up to ₹600.16 Cr) |
| Offer for Sale | 2,06,35,528 shares of ₹1 (aggregating up to ₹319.84 Cr) |
| Employee Discount | ₹7.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 17,46,61,760 shares |
| Share Holding Post Issue | 21,33,71,437 shares |
Apeejay Surrendra Park IPO offers total 5,93,85,351 shares. Out of which 4,40,32,258 (74.15%) allocated to QIB, 1,76,12,904 (29.66%) allocated to QIB, 88,06,451 (14.83%) allocated to NII, 58,70,967 (9.89%) allocated to RII and 2,64,19,354 (44.49%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 4,40,32,258 (74.15%) | NA |
| − Anchor Investor Shares Offered | 2,64,19,354 (44.49%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,76,12,904 (29.66%) | NA |
| NII (HNI) Shares Offered | 88,06,451 (14.83%) | NA |
| − bNII > ₹10L | 58,70,967 (9.89%) | 4,368 |
| − sNII < ₹10L | 29,35,484 (4.94%) | 2,184 |
| Retail Shares Offered | 58,70,967 (9.89%) | 61,155 |
| Employee Shares Offered | 6,75,675 (1.14%) | NA |
| Total Shares Offered | 5,93,85,351 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Apeejay Surrendra Park Hotels IPO raises ₹409.50 crore from anchor investors. Apeejay Surrendra Park Hotels IPO Anchor bid date is February 2, 2024. Apeejay Surrendra Park Hotels IPO Anchor Investors list
| Bid Date | February 2, 2024 |
| Shares Offered | 2,64,19,354 |
| 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 |
Apeejay Surrendra Park Hotels IPO opens on February 5, 2024, and closes on February 7, 2024.
| IPO Open Date | Mon, Feb 5, 2024 |
| IPO Close Date | Wed, Feb 7, 2024 |
| Tentative Allotment | Thu, Feb 8, 2024 |
| Initiation of Refunds | Fri, Feb 9, 2024 |
| Credit of Shares to Demat | Fri, Feb 9, 2024 |
| Tentative Listing Date | Mon, Feb 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Feb 7, 2024 |
Investors can bid for a minimum of 96 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 96 | ₹14,880 |
| Retail (Max) | 13 | 1,248 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,344 | ₹2,08,320 |
| S-HNI (Max) | 67 | 6,432 | ₹9,96,960 |
| B-HNI (Min) | 68 | 6,528 | ₹10,11,840 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1987, Apeejay Surrendra Park Hotels Limited is engaged in the hospitality business operating under the brand names of "THE PARK", "THE PARK Collection", "Zone by The Park", "Zone Connect by The Park" and "Stop by Zone". The company is also engaged in the business of retail food and beverage industry through its retail brand 'Flurys.
As of March 31, 2023, the company operates 80 restaurants, night clubs and bars, offering a wide selection of culinary experiences.
The company currently operates 27 hotels, which are spread across different categories such as luxury boutique, upscale, and upper midscale. These hotels are present in various cities in India including Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, Mumbai, Coimbatore, Indore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Visakhapatnam, Port Blair, and Pathankot, offering a total of 2,111 rooms as of August 2023.
The company owns restaurants under the brand name of Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar.
As of June 2023, the company has a total of 1,923 employees.
Apeejay Surrendra Park Hotels Limited's revenue increased by 95.81% and profit after tax (PAT) rose by 270.42% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 |
| Total Income | 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 | ||||
The market capitalization of Apeejay Surrendra Park Hotels IPO is ₹3307.26 Cr.
| KPI | Values |
|---|---|
| Debt/Equity | 0.99 |
| RoNW | 9.03% |
| Price to Book Value | 4.87 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.75 | 2.15 |
| P/E (x) | 56.33 | 72.05 |
The company proposes to utilise the Net Proceeds towards funding the following objects:
[Dilip Davda] A niche player and leader of the segment on 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 for hospitality segment counters. Investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | February 12, 2024 |
| BSE Script Code | 544111 |
| NSE Symbol | PARKHOTELS |
| ISIN | INE988S01028 |
| Final Issue Price | ₹155 per share |
| BSE Listing Group | B |
Apeejay Surrendra Park Hotels Ltd.
17, Park Street,
kolkata
700 016
Kolkata, West Bengal
Phone: +91 33 2249 9000
Email: investorrelations @asphl.in
Website: https://www.theparkhotels.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: parkhotels.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Apeejay Surrendra Park Hotels IPO is a main-board IPO of 5,93,57,646 equity shares of the face value of ₹1 aggregating up to ₹920.00 Crores. The issue is priced at ₹155 per share. The minimum order quantity is 96.
The IPO opens on February 5, 2024, and closes on February 7, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Apeejay Surrendra Park Hotels IPO using UPI as a payment gateway. Zerodha customers can apply in Apeejay Surrendra Park Hotels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Apeejay Surrendra Park Hotels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Apeejay Surrendra Park Hotels IPO opens on February 5, 2024 and closes on February 7, 2024.
Apeejay Surrendra Park Hotels IPO lot size is 96, and the minimum amount required for application is ₹14,880.
You can apply in Apeejay Surrendra Park Hotels IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Apeejay Surrendra Park Hotels IPO will be done on Thursday, February 8, 2024, and the allotted shares will be credited to your demat account by Friday, February 9, 2024. Check the Apeejay Surrendra Park Hotels IPO allotment status.
The Apeejay Surrendra Park Hotels IPO listing date is on Monday, February 12, 2024.
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