Apeejay Surrendra Park Hotels is set to launch its initial public offering (IPO) next week, aiming to raise ₹920 crores from the market. As investors gear up for the subscription period from February 5 to February 7, 2024, here are 10 crucial points to consider before participating in the IPO.
1. Apeejay Surrendra IPO Dates:
- The IPO subscription window opens on February 5, 2024, and closes on February 7, 2024. Investors should mark these dates for bidding.
2. Price Band:
- The IPO price is set in the range of ₹147 to ₹155 per share, offering investors flexibility in their investment choices.
3. Fundraising Goal:
- Apeejay Surrendra Park Hotels aims to generate ₹920 crores through a book-built issue, with a combination of ₹600 crores as a fresh issue and ₹320 crores through an offer for sale.
4. Lot Size:
- Investors can apply for shares in lots, and one lot comprises 96 company shares. Understanding the lot size is essential for precise investment decisions.
5. Promoters:
- The promoters of the company include Karan Paul, Priya Paul, Apeejay Surrendra Trust, and Great Eastern Stores Private Limited.
6. Registrar and Book Managers:
- The book running lead managers for the IPO are JM Financial Limited, ICICI Securities Limited, and Axis Capital Limited. Link Intime India Private Ltd will serve as the registrar for the issue.
7. Allotment and Listing Dates:
- Considering T+3 listing rules, share allocation is anticipated on February 8, 2024, with the tentative listing date on BSE and NSE set for Monday, February 12, 2024.
8. IPO Objective:
- The net proceeds from the IPO will be utilized for the repayment/prepayment of outstanding borrowings and general corporate expenses.
9. Investor Reservation:
- The IPO is reserved with 75% for Qualified Institutional Buyers (QIBs), 10% for retail investors, and 15% for Non-Institutional Investors (NIIs).
10. Grey Market Premium (GMP):
- As per market observers, Apeejay Surrendra Park Hotels Limited shares are trading at a premium of ₹65 in the grey market, indicating early investor interest.
Investors eyeing the Apeejay Surrendra Park Hotels IPO should carefully consider these key points before deciding to subscribe. The hospitality company’s foray into the public market presents an opportunity for investors to participate in its growth journey.
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