Apeejay Surrendra Park Hotels IPO Day 2: GMP, Verification, Subscription Status, Other Details. Buy or not?

Apeejay Surrendra Park IPO: The initial public offering (IPO) of Apeejay Surrendra Park Hotels Limited will take place today in the Indian primary market. The company has set the price range for the IPO of Apeejay Surrendra Park Hotels at ₹147 to ₹155 per share. The Book Build edition will remain open until February 7, 2024. The public offer is intended for listing on the BSE and NSE. The goal of the catering company is to increase revenue ₹920 crore from the bookbuild offer.

Meanwhile, company shares will be available for trading on the gray market on the opening date of Apeejay Surrendra Park Hotels IPO. According to stock market observers, shares of Apeejay Surrendra Park Hotels Limited are available at a premium of ₹62 are on the gray market today, market watchers say.

Apeejay Surrendra Park Hotels IPO Subscription Status

As of 2:57 pm on the second day of bidding, the book-build edition was subscribed 4.72 times while the retail portion was subscribed 11.48 times. The NII portion was subscribed 7.42 times while the QIB portion of the book-build issue was booked 1.23 times.

Important Details About Apeejay Surrendra Park Hotels IPO

Infographic: Courtesy of mintgenie

1] Apeejay Surrendra Park Hotels IPO GMP: Shares in the hotel company are available at a premium of ₹62 on the gray market today.

2] Apeejay Surrendra Park Hotels IPO Price: The company has set a fixed price range for the public issue ₹147 to ₹155 per share.

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3] Apeejay Surrendra Park Hotels IPO Date: The book edition opened today and will remain open until February 7, 2024.

4]Size of Apeejay Surrendra Park Hotels IPO: The goal of the catering company is to increase revenue ₹920 crore from its public offer ₹600 crore is being sought by issuing new shares. The rest of ₹320 crore is reserved for the OFS route.

5]Property Size of Apeejay Surrendra Park Hotels IPO: A bidder can apply in lots and one lot of the book build issue will comprise 96 shares of the company.

6]Apeejay Surrendra Park Hotels IPO Allotment Date: Under the T+3 listing rules, share allocation will most likely take place on February 8, 2024, i.e. on Thursday next week.

7]Apeejay Surrendra Park Hotels IPO Registrar: Link Intime India Private Ltd has been appointed as the official registrar of Book Build edition.

8]IPO of Apeejay Surrendra Park Hotels: The public issue is proposed for listing on BSE and NSE.

9]Apeejay Surrendra Park Hotels IPO Date: The public issue is expected to be listed on February 12, 2024.

Apeejay Surrendra Park Hotels IPO: To Apply or Not?

10]Valuation of Apeejay Surrendra Park Hotels IPO: Dhruv Mudaraddi, Research Analyst at Stoxbox, tagged the public topic “Subscribe” and said, “Apeejay Surrendra Park Hotels Ltd. stands at the intersection of a resurgent hotel industry and a post-pandemic economic recovery. The resurgence is evident in the remarkable.” The hotel sector's performance over the past year reflects buoyant market sentiment and optimism about the sector's recovery. The timing of ASPH's IPO strategically positions the company to capitalize on this positive momentum. The company has established a strong brand presence and credibility in the hospitality industry, which will likely ensure that their reviews will be respected over time. With a diversified pan-India portfolio, the company effectively spreads its risk across different geographical regions and market segments, enabling it to capture opportunities at a granular level. The historically high occupancy rates augur well for improving net margins, thereby contributing to its financial stability and growth trajectory . Although the valuation is reasonable compared to peers, it reflects market optimism in the relatively high P/E ratio, which stands at 56.4 based on FY23 EPS. Due to these positive results, we give the issue a “SUBSCRIBE” rating.

On whether to apply for the book-build edition or not, Anirudh Garg, partner and fund manager at INVAsset, said, “Investor interest could be driven by high occupancy, average revenue per room and diversity of Apeejay Surrendra Park Hotels are woken up.” This includes the F&B segment run by “Flurys” as well as various restaurants and bars. The promoter holding post-IPO will decrease from 94.18% to 68.13% and the company plans to use the proceeds for debt repayment and general corporate purposes as well as positioning itself for future growth and expansion.

Leading brokerage firms BP Equities, Ventura Securities, Mehta Equities, Marwadi Financial Services and Choice Broking have also given a subscribe tag to the book-building issue.

Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not Mint. We recommend investors consult certified experts before making an investment decision.

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