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Business News/ Markets / Ipo/  Apeejay Surrendra Park share price makes a decent debut; stock opens with 20% premium at 186 on NSE
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Apeejay Surrendra Park share price makes a decent debut; stock opens with 20% premium at ₹186 on NSE

Apeejay Surrendra Park share price listed at ₹186 on NSE, 20% higher than the issue price.

Apeejay Surrendra Park share price lists on the bourses today. (https://www.theparkhotels.com/)Premium
Apeejay Surrendra Park share price lists on the bourses today. (https://www.theparkhotels.com/)

Apeejay Surrendra Park share price today made a decent debut on the bourses today. On NSE, Apeejay Surrendra Park share price was listed at 186 per share, 20% higher than the issue price of 155. On BSE, Apeejay Surrendra Park share price today was listed at 187 apiece, up 20.65% than the issue price.

Experts anticipated Apeejay Surrendra Park share price to list in the range of 185 to 205 per equity share.

Also Read: Apeejay Surrendra Park Hotels IPO listing date today. Experts predict up to 25% listing gain for share allottees

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On the third day, the Park Hotels IPO had an upbeat response from investors. Park Hotels IPO witnessed a strong response during the three-day subscription period and managed to maintain an upward trend. Apeejay Surrendra Park Hotels IPO subscription status was 59.66 times, as per BSE data.

 Apeejay Surrendra Park Hotels IPO details.
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Apeejay Surrendra Park Hotels IPO details.

The Apeejay Surrendra Park Hotels IPO opened for subscription on Monday, February 5, and closed on Wednesday, February 7. Apeejay Surrendra Park Hotels IPO price band was fixed in the range of 147 to 155 per equity share of the face value of 1 each.

Apeejay Surrendra Park Hotels IPO raised 409 crore from anchor investors on Friday, February 2. The Apeejay Surrendra Park Hotels IPO lot size was 96 equity shares and in multiples of 96 equity shares thereafter.

Also Read: Apeejay Surrendra Park Hotels IPO: Issue oversubscribed 59.66 times on day 3; Check GMP

Apeejay Surrendra Park Hotels IPO 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. The employee portion was reserved equity shares aggregating up to 10 crore.

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.

Also Read: Apeejay Surrendra Park Hotels IPO listing date out. GMP signals strong debut of shares

Apeejay Surrendra Park IPO GMP today

Apeejay Surrendra Park IPO GMP, or grey market premium, is +38. This indicates Apeejay Surrendra Park share price were trading at a premium of 38 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 the Park Hotels share price was indicated at 193 apiece, which is 24.52% higher than the IPO price of 155.

Based on the last 17 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.

Also Read: Apeejay Surrendra Park Hotels IPO last date to apply: GMP drops, check issue details, review, more. Apply or not?

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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Published: 12 Feb 2024, 10:00 AM IST
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