Bookbuilding IPO | ₹920 Cr | Listed at BSE, NSE | Mon, Feb 5, 2024 - Wed, Feb 7, 2024
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 per share. The lot size for an application is 96. The minimum amount of investment required by an retail is ₹14,880 (96 shares) (based on upper price). 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 Open
Mon, Feb 5, 2024
IPO Close
Wed, Feb 7, 2024
Issue Price
₹155 per share
Market Cap (Pre-IPO)
₹3,307.26 Cr
| IPO Date | 5 to 7 Feb, 2024 |
| Listed on | Mon, Feb 12, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹147 to ₹155 |
| Issue Price | ₹155 per share |
| Lot Size | 96 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹7.00 |
| Total Issue Size | 5,93,57,646 shares (agg. up to ₹920 Cr) |
| Fresh Issue | 3,87,22,118 shares (agg. up to ₹600 Cr) |
| Offer for Sale | 2,06,35,528 shares of ₹1 (agg. up to ₹320 Cr) |
| Share Holding Pre Issue | 17,46,61,760 shares |
| Share Holding Post Issue | 21,33,71,437 shares |
| BSE Script Code / NSE Symbol | 544111 / PARKHOTELS |
| ISIN | INE988S01028 |
Apeejay Surrendra Park Hotels 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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 96 shares and in multiples thereof.
| 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 |
Apeejay Surrendra Park Hotels IPO raises ₹409.50 crore from anchor investors. Apeejay Surrendra Park Hotels IPO Anchor bid date is February 2, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Feb 2, 2024 |
| Shares Offered | 2,64,19,354 |
| Anchor Portion (₹ Cr.) | 409.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Mar 9, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, May 8, 2024 |
| 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 |
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.
| 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment, in full or in part of certain outstanding borrowings availed by the Company | 550.00 |
| 2 | General corporate purposes | 16.23 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.75 | 2.15 |
| P/E (x) | 56.33 | 72.05 |
| Promoter Holding | 94.18% | 68.13% |
| Market Cap | ₹3,307.26 Cr. |
The Apeejay Surrendra Park IPO is subscribed 62.91 times on February 7, 2024 7:02:00 PM (Day 3). The public issue subscribed 32 times in the retail category, 79.23 times in the QIB category, and 55.26 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 79.23 | 1,76,12,903 | 1,39,54,33,920 |
| NII | 55.26 | 88,06,452 | 48,66,43,776 |
| bNII (bids above ₹10L) | 61.55 | 58,70,967 | 36,13,56,960 |
| sNII (bids below ₹10L) | 42.68 | 29,35,484 | 12,52,86,816 |
| Retail | 32 | 58,70,968 | 18,78,95,712 |
| Employee | 5.73 | 6,75,675 | 38,70,144 |
| Total | 62.91 | 3,29,65,998 | 2,07,38,43,552 |
Total Application : 18,95,231
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 25.15 |
| 2 | Commission/processing fee for SCSBs, Banker(s) to the Offer, Sponsor Banks. Brokerage underwriting and selling commission and bidding charges for member of the syndicate (including their sub-syndicate members), Registered Brokers, RTAs and CDPs | 3.76 |
| 3 | Fees payable to the Registrar to the Offer | 0.09 |
| 4 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 5.33 |
| 5 | Printing and stationery expenses | 0.08 |
| 6 | Advertising and marketing expenses | 7.02 |
| 7 | Fees payable to legal counsels | 4.39 |
| 8 | Fees payable to Statutory Auditors | 2.83 |
| 9 | Fees payable to the Independent Chartered Accountant | 0.09 |
| 10 | Fees payable to the industry service provider | 0.35 |
| 11 | Miscellaneous | 3.41 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹155.00 | ₹155.00 |
| Open | ₹187.00 | ₹186.00 |
| Low | ₹170.15 | ₹171.25 |
| High | ₹223.50 | ₹223.20 |
| Last Trade | ₹203.45 | ₹203.55 |
Lead Manager Reports
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 Crores. The issue is priced at ₹155 per share. The minimum order quantity is 96.
The IPO opens on Mon, Feb 5, 2024, and closes on Wed, Feb 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 Mon, Feb 5, 2024 and closes on Wed, Feb 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 Fri, Feb 9, 2024. Check the Apeejay Surrendra Park Hotels IPO allotment status.
The Apeejay Surrendra Park Hotels IPO listing date is on Mon, Feb 12, 2024.
