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Apeejay Surrendra Park IPO is a book built issue of Rs 920.00 crores. The issue is a combination of fresh issue of 3.87 crore shares aggregating to Rs 600.00 crores and offer for sale of 2.06 crore shares aggregating to Rs 320.00 crores.
Apeejay Surrendra Park IPO bidding started from February 5, 2024 and ended on February 7, 2024. The allotment for Apeejay Surrendra Park IPO was finalized on Thursday, February 8, 2024. The shares got listed on BSE, NSE on February 12, 2024.
Apeejay Surrendra Park IPO price band is set at ₹147 to ₹155 per share. The minimum lot size for an application is 96 Shares. The minimum amount of investment required by retail investors is ₹14,880. The minimum lot size investment for sNII is 14 lots (1,344 shares), amounting to ₹208,320, and for bNII, it is 68 lots (6,528 shares), amounting to ₹1,011,840.
The issue includes a reservation of up to 675,675 shares for employees offered at a discount of Rs 7 to the issue price.
Jm Financial Limited, ICICI Securities Limited and Axis Capital Limited are the book running lead managers of the Apeejay Surrendra Park IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Apeejay Surrendra Park IPO RHP for detailed information.
| IPO Date | February 5, 2024 to February 7, 2024 |
| Listing Date | February 12, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹147 to ₹155 per share |
| Lot Size | 96 Shares |
| Total Issue Size | 59,354,838 shares (aggregating up to ₹920.00 Cr) |
| Fresh Issue | 38,709,677 shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | 20,645,161 shares of ₹1 (aggregating up to ₹320.00 Cr) |
| Employee Discount | Rs 7 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 174,661,760 |
| Share holding post issue | 213,371,437 |
Apeejay Surrendra Park IPO offers 59,385,352 shares. 17,612,903 (29.66%) to QIB, 8,806,452 (14.83%) to NII, 5,870,968 (9.89%) to RII, 675,675 (1.14%) to employees and 26,419,354 (44.49%) to Anchor investors. 61,155 RIIs will receive minimum 96 shares and 2,184 (sNII) and 4,368 (bNII) will receive minimum 1,344 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 26,419,354 (44.49%) | NA |
| QIB Shares Offered | 17,612,903 (29.66%) | NA |
| NII (HNI) Shares Offered | 8,806,452 (14.83%) | |
| bNII > ₹10L | 5,870,967 (9.89%) | 4,368 |
| sNII < ₹10L | 2,935,484 (4.94%) | 2,184 |
| Retail Shares Offered | 5,870,968 (9.89%) | 61,155 |
| Employee Shares Offered | 675,675 (1.14%) | NA |
| Total Shares Offered | 59,385,352 (100%) |
Apeejay Surrendra Park IPO raises Rs 409.50 crore from anchor investors. Apeejay Surrendra Park IPO Anchor bid date is February 2, 2024. Apeejay Surrendra Park IPO Anchor Investors list
| Bid Date | February 2, 2024 |
| Shares Offered | 26,419,354 |
| Anchor Portion Size (In Cr.) | 409.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 9, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 8, 2024 |
Apeejay Surrendra Park IPO opens on February 5, 2024, and closes on February 7, 2024.
| IPO Open Date | Monday, February 5, 2024 |
| IPO Close Date | Wednesday, February 7, 2024 |
| Basis of Allotment | Thursday, February 8, 2024 |
| Initiation of Refunds | Friday, February 9, 2024 |
| Credit of Shares to Demat | Friday, February 9, 2024 |
| Listing Date | Monday, February 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 7, 2024 |
Investors can bid for a minimum of 96 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 96 | ₹14,880 |
| Retail (Max) | 13 | 1248 | ₹193,440 |
| S-HNI (Min) | 14 | 1,344 | ₹208,320 |
| S-HNI (Max) | 67 | 6,432 | ₹996,960 |
| B-HNI (Min) | 68 | 6,528 | ₹1,011,840 |
| Lot Size Calculator | |||
The promoters of the Company are Karan Paul, Priya Paul, Apeejay Surrendra Trust and Great Eastern Stores Private Limited.
| Share Holding Pre Issue | 94.18% |
| Share Holding Post Issue | 68.13% |
Incorporated in 1987, Apeejay Surrendra Park Hotels Limited is engaged in the hospitality business operating under the brand names of "THE PARK", "THE PARK Collection", "Zone by The Park", "Zone Connect by The Park" and "Stop by Zone". The company is also engaged in the business of retail food and beverage industry through its retail brand 'Flurys.
As of March 31, 2023, the company operates 80 restaurants, night clubs and bars, offering a wide selection of culinary experiences.
The company currently operates 27 hotels, which are spread across different categories such as luxury boutique, upscale, and upper midscale. These hotels are present in various cities in India including Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, Mumbai, Coimbatore, Indore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Visakhapatnam, Port Blair, and Pathankot, offering a total of 2,111 rooms as of August 2023.
The company owns restaurants under the brand name of Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar.
As of June 2023, the company has a total of 1,923 employees.
Apeejay Surrendra Park Hotels Limited's revenue increased by 95.81% and profit after tax (PAT) rose by 270.42% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,382.51 | 1,361.79 | 1,275.18 | 1,280.34 |
| Revenue | 272.31 | 524.43 | 267.83 | 190.29 |
| Profit After Tax | 22.95 | 48.06 | -28.20 | -75.88 |
| Net Worth | 578.71 | 555.68 | 508.51 | 536.28 |
| Reserves and Surplus | 561.24 | 538.22 | 491.05 | 518.81 |
| Total Borrowing | 597.09 | 566.88 | 622.68 | 593.44 |
| Amount in ₹ Crore | ||||
The market capitalization of Apeejay Surrendra Park IPO is Rs 3307.26 Cr.
| KPI | Values |
|---|---|
| Debt/Equity | 0.99 |
| RoNW | 9.03% |
| P/BV | 4.87 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.75 | 2.15 |
| P/E (x) | 56.33 | 72.05 |
The company proposes to utilise the Net Proceeds towards funding the following objects:
[Dilip Davda] A niche player and leader of the segment on highest occupancy count, this IPO is sure to attract fancy post listing. A larger chunk of primary issue will be used to cut its debts and resultant boosted bottom line with lower finance cost. With its expansion plans afoot, it is poised for bright prospects. Off late we are also witnessing fancy for hospitality segment counters. Investors may park funds for the medium to long term rewards. Read detail review...
The Apeejay Surrendra Park IPO is subscribed 62.91 times on February 7, 2024 7:02:00 PM. The public issue subscribed 32.00 times in the retail category, 79.23 times in the QIB category, and 55.26 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 79.23 |
| NII | 55.26 |
| bNII (bids above ₹10L) | 61.55 |
| sNII (bids below ₹10L) | 42.68 |
| Retail | 32.00 |
| Employee | 5.73 |
| Total | 62.91 |
Total Application : 1,895,231 (30.99 times)
| Listing Date | February 12, 2024 |
| BSE Script Code | 544111 |
| NSE Symbol | PARKHOTELS |
| ISIN | INE988S01028 |
| Final Issue Price | ₹155 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹155.00 |
| ₹187.00 |
| ₹170.15 |
| ₹223.50 |
| ₹203.45 |
| NSE |
|---|
| ₹155.00 |
| ₹186.00 |
| ₹171.25 |
| ₹223.20 |
| ₹203.55 |
Apeejay Surrendra Park Hotels Limited
17, Park Street,
kolkata
700 016
Phone: +91 33 2249 9000
Email: investorrelations @asphl.in
Website: https://www.theparkhotels.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: parkhotels.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Apeejay Surrendra Park IPO is a main-board IPO of 59,354,838 equity shares of the face value of ₹1 aggregating up to ₹920.00 Crores. The issue is priced at ₹147 to ₹155 per share. The minimum order quantity is 96 Shares.
The IPO opens on February 5, 2024, and closes on February 7, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Apeejay Surrendra Park IPO using UPI as a payment gateway. Zerodha customers can apply in Apeejay Surrendra Park IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Apeejay Surrendra Park IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Apeejay Surrendra Park IPO opens on February 5, 2024 and closes on February 7, 2024.
Apeejay Surrendra Park IPO lot size is 96 Shares, and the minimum amount required is ₹14,880.
You can apply in Apeejay Surrendra Park IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Apeejay Surrendra Park IPO will be done on Thursday, February 8, 2024, and the allotted shares will be credited to your demat account by Friday, February 9, 2024. Check the Apeejay Surrendra Park IPO allotment status.
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