Delhi-based company Apeejay Surrendra Park Hotels, which runs luxury hotels, has set a price band of Rs 147-155 for its public offering (IPO). The company wants to raise Rs 920 crore through IPO.
It aims to raise Rs 600 crore through fresh shares and Rs 320 crore through sale offer.
When will Park Hotels IPO open for subscription?
The IPO of Apeejay Surendra Park Hotels will open for subscription from February 5 to February 7.
Know other information related to Park Hotels IPO:
Investors can bid for a minimum of 96 shares and in multiples of 96 thereafter. Therefore the minimum investment of retail investors will be Rs 14,112. At the upper level the bid amount will increase to Rs 14,880.
How many shares will be reserved for whom?
At least 75% of the shares in the public issue have been reserved for qualified institutional buyers (QIBs), up to 15% for non-institutional institutional investors (NIIs) and 10% for retail investors.
Remember these dates
The IPO of APJ Surendra Park Hotels will open on 5th February and close on 7th February. At the same time, the IPO will open for anchor investors for one day on February 2.
Who are the merchant bankers of Park Hotels IPO?
JM Financial, Axis Capital and ICICI Securities are the merchant bankers to the issue. Apeejay Surendra Park Hotel’s IPO comprises a fresh equity issue of ₹600 crore and an offer-for-sale (OFS) of ₹320 crore.
Promoter Apeejay will sell shares worth Rs 296 crore in the OFS, while investors RECP IV Park Hotel Investors and RECP IV Park Hotel Co-Investors will sell shares worth Rs 23 crore and Rs 1 crore, respectively.
