February 5, 2023
New Delhi, India
The Apeejay Surrendra Park Hotels Limited is gearing up for its Initial Public Offering (IPO), poised to hit the Indian primary market with anticipation and positive market signals.
IPO Details:
The company has established a price band of ₹147 to ₹155 per equity share for its IPO, open for subscription until February 7, 2024. Aiming to raise ₹920 crore, the offering comprises ₹600 crore through fresh shares and ₹320 crore via the Offer for Sale (OFS) route.
Market Activity:
In the grey market, the shares of Apeejay Surrendra Park Hotels are commanding a premium of ₹65, indicating early investor interest. By midday on the first day of bidding, the book build issue had been subscribed 0.33 times, with the retail portion oversubscribed at 1.27 times and the NII portion at 0.39 times.
Lot Size and Allotment: Investors can apply in lots, with one lot comprising 96 company shares. Share allocation, adhering to T+3 listing rules, is expected on February 8, 2024.
Registrar and Listing: Link Intime India Private Ltd has been appointed as the official registrar for the book build issue.
Listing Date: Mark your calendars for the expected listing date on February 12, 2024, as Apeejay Surrendra Park Hotels prepares to join the stock exchanges.
Use of Proceeds: The company plans to utilize the raised funds strategically, allocating ₹600 crore for fresh shares and ₹320 crore through the OFS route.
Grey Market Premium: The positive grey market premium of ₹65 underscores the early enthusiasm for Apeejay Surrendra Park Hotels’ shares, suggesting a promising debut.
Also Read: Megatherm Induction Makes Stellar Debut with 83% Premium on NSE SME
Conclusion:
Investors and market enthusiasts are closely watching as Apeejay Surrendra Park Hotels embarks on its IPO journey, with early signs pointing towards a successful listing on the BSE and NSE.
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