Apeejay Surrendra Park Hotels' IPO worth 920 Crore opens on February 5: Details

Apeejay Surrendra Park Hotels is expected to open its initial public offering (IPO) for subscription on February 5 as it seeks a capital increase ₹920 crore. The issue ends on February 7th. The anchor book will open for one day on February 2nd.

What do we know about Apeejay Surrendra Park Hotels IPO?

Apeejay Surrendra Park Hotels IPO: The anchor book will open for one day on February 2nd. Further details can be found here {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}}

The IPO of Apeejay Surrendra Park Hotels is a mix of fresh issue of shares ₹600 crore. There is also an offer to sell shares ₹Promoter and investor promoter Apeejay is offering shares worth ₹320 crore ₹296 crore is up for sale as investors RECP IV Park Hotel Investors and RECP IV Park Hotel Co-Investors are offloading ₹23 crore and ₹Stocks worth 1 Crore. Apeejay holds 94.18 percent stake in the hotel chain while RECP IV Park Hotel Investors holds 5.53 percent.

What you need to know about Apeejay Surrendra Park Hotels?

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The company operates brands such as THE PARK, THE PARK Collection, Zone by The Park and Zone Connect by The Park. Apeejay Surrendra Park Hotels is the eighth largest hotel in India in terms of the hotel chain's hotel room inventory. As of September 2023, it had 45,800 rooms.

What are Apeejay Surrendra Park Hotels' plans for the IPO?

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The company plans to use most of them ₹550 crore of the new issue proceeds will be used to repay debt. As of January 2, Apeejay Surrendra Park Hotels had debts of ₹582.28 crore on a consolidated basis.

JM Financial, Axis Capital and ICICI Securities are the merchant banks for the issue.

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