Apeejay Surrendra Park Hotels IPO continues to see robust demand from retail, NIIs on day 2; GMP drops
- The Apeejay Surrendra Park Hotels IPO has opened for subscription on Monday, February 5, and will close on Wednesday, February 7. Apeejay Surrendra Park Hotels IPO price band set at ₹147-155 per share. Apeejay Surrendra Park IPO GMP, or grey market premium, is +31.
Apeejay Surrendra Park Hotels IPO subscription status: The Park IPO continued to receive robust response from retail and non-institutional investors on day 2 as well. Park IPO subscription status was 5.82 times, as per BSE data.
On day 2, Apeejay Surrendra Park Hotels IPO's retail investors portion has been subscribed to 13.14 times, Non Institutional Investors (NII) portion is subscribed to 10.35 times, and Qualified Institutional Buyers (QIB) portion is booked 1.26 times.
The retail portion of the Apeejay Surrendra Park Hotels IPO was entirely booked within an hour of taking off on the first day. Apeejay Surrendra Park Hotels IPO subscription status was 2.53 times on day 1.
On day 1, Apeejay Surrendra Park Hotels IPO's retail investors portion has been subscribed to 5.74 times, Non Institutional Investors (NII) portion is subscribed to 3.24 times, and Qualified Institutional Buyers (QIB) portion is booked 1.17 times.
The Apeejay Surrendra Park Hotels IPO has opened for subscription on Monday, February 5, and will close on Wednesday, February 7. Apeejay Surrendra Park Hotels IPO price band has been fixed in the range of ₹147 to ₹155 per equity share of the face value of ₹1 each.
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Apeejay Surrendra Park Hotels IPO raised ₹409 crore from anchor investors on Friday, February 2. The Apeejay Surrendra Park Hotels IPO lot size is 96 equity shares and in multiples of 96 equity shares thereafter.
Apeejay Surrendra Park Hotels IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors.
Tentatively, Apeejay Surrendra Park Hotels IPO basis of allotment of shares will be finalised on Thursday, February 8, and the company will initiate refunds on Friday, February 9, while the shares will be credited to the demat account of allottees on the same day following refund. Apeejay Surrendra Park Hotels share price is likely to be listed on BSE and NSE on Monday, February 12.
Apeejay Surrendra Park Hotels IPO Subscription Status
Apeejay Surrendra Park Hotels IPO has received bids for 20,24,73,408 shares against 3,47,61,903 shares on offer, according to data from the BSE.
Apeejay Surrendra Park Hotels IPO retail investors' portion received bids for 8,13,53,280 shares against 61,90,476 shares on offer for this segment.
Apeejay Surrendra Park Hotels IPO's non-institutional investors' portion received bids for 9,61,42,464 shares against 92,85,714 on offer for this segment.
Apeejay Surrendra Park Hotels IPO's QIBs portion have received 2,34,81,600 bids against 1,85,71,428 shares on offer for this segment.
Apeejay Surrendra Park Hotels IPO details
Apeejay Surrendra Park IPO, which is worth ₹920 crore, consists of fresh issue of equity shares aggregating up to ₹600 crore and offer-for-sale (OFS) aggregating up to ₹320 crore.
The company plans to use the net proceeds to fund general corporate operations as well as the return or prepayment, in full or in part, of any outstanding borrowings that the company has taken out.
Apeejay Private Ltd, promoter group selling shareholder, would be offloading shares worth ₹296 crore, RECP IV Park Hotel Investors Ltd will be selling shares worth ₹23 crore, and RECP IV Park Hotel Co-Investors Lts will be offloading shares worth ₹1 crore.
The registrar for the Apeejay Surrendra Park IPO is Link Intime India Private Ltd, and the book running lead managers are JM Financial Limited, ICICI Securities Limited, and Axis Capital Limited.
Apeejay Surrendra Park IPO GMP today
Apeejay Surrendra Park IPO GMP, or grey market premium, is +31. The GMP has dropped in the last two sessions. This indicates Apeejay Surrendra Park share price were trading at a premium of ₹31 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Apeejay Surrendra Park share price was indicated at ₹186 apiece, which is 20% higher than the IPO price of ₹155.
Based on the last 11 sessions of grey market activity, today IPO GMP points upward and expects a strong listing, as per analysts at investorgain.com. The lowest GMP is ₹0, while the highest GMP is ₹70.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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