Apeejay Surrendra Park Hotels IPO is going to open on 5 February 2024 and will close on 7 February 2024. The IPO will consist of both fresh shares and offer for sale. The company is also making headlines for raising Rs. 409.5 Crore from anchor investors days before the IPO. The anchor round had several top companies from which few contributed to the fund. We will share details about Apeejay Surrendra Park Hotel’s IPO below.
Apeejay Surrendra Park Hotels Limited raised ₹409.5 Crore from the anchor investing round. It involved companies like Integrated Core Strategies (Asia) Pte Ltd, SBI General Insurance Company, Kotak Mahindra Life Insurance, CLSA Global Markets Pte Ltd, Bajaj Allianz Life Insurance, Citigroup Global Markets Mauritius, and Societe Generale as investors. There were other companies as well that were present in the anchor round.
The company has a book-built issue of ₹920 crores. It includes both fresh equity shares and the offer for-sale equity shares. The company will issue fresh equity shares for Rs. 600 crores and offer for sale for ₹320 crores at face value of Rs. 1 per share. The shares will have a lot size of Rs. 96 shares with a price of Rs. 147 to Rs. 155 per share. The company will be listed on both NSE and BSE.
Apeejay Surrendra Park Hotels will have shares divided into QIB shares, Retail shares, and NII shares. The majority (75%) will be offered to QIB, 10% in Retail, and 15% in NII. The company is performing decently in terms of revenue. Currently, the company has ₹272.31 crore of revenue by 30 Sep 2023 with a PAT of ₹22.95 Crore. The years 2021 and 2022 ended with a let loss after tax. However, the company became profitable in March 2023.
Apeejay Surrendra Park Hotels expects to list by 12 February 2024 in the market. The company expects the basis of allotment by 8 February 2024. The company is on the growth. It expects to be profitable for the upcoming quarter as well. The company will be utilizing its fresh issue of shares for the debt payments. Apart from that, other parts of the money will be utilized for further expansion and improvement in different departments. The company is going at ₹70 for GMP. We hope you get enough details about Apeejay Surrendra Park Hotels IPO and anchor round above.