Apeejay Surrendra Park Hotels IPO: Price band set at ₹147-155 per share; details here

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. The Apeejay Surrendra Park Hotels IPO date of subscription is scheduled for Monday, February 5, and will close on Wednesday, February 7. The allocation to anchor investors for the Apeejay Surrendra Park Hotels IPO is scheduled to take place on Friday, February 2.

The floor price is 147 times the face value of the equity shares, and the cap price is 155 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the fiscal 2023 at the floor price is 53.45 times and at the cap price is as high as 56.36 times as compared to the average industry peer group P/E ratio of 73.60. The Apeejay Surrendra Park Hotels IPO lot size is 96 equity shares and in multiples of 96 equity shares thereafter.

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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.

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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.

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