31-Jan-2024
2 mins read
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Apeejay Surrendra Park Hotels Limited IPO 2024 is open for subscription from Monday, February 5, 2024 and will close on Wednesday, February 7, 2024. The price band for this IPO is decided at Rs 147 to Rs 155 per share. The minimum lot size of this application for the retail category is 96 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 1344 shares. Whereas, the minimum lot for big non-institutional investors is 68 lots consisting of 6528 shares. The minimum amount of investment required for retail category investors is Rs 14,880 (96 x 155 shares). However, for small non-institutional investors the minimum investment amount is required Rs 2,08,320 (155 x 1344 shares) and for big non-institutional investors is Rs 10,11,840 (155 x 6528 shares).
Apeejay Surrendra Park Limited IPO 2024 is a book-built issue of Rs 920 crores. The issue is a combination of fresh issue and offer for sale. The Fresh issue is of Rs 600 crore and Offer for sale is of Rs 320 crore. The allotment for this IPO is expected to be finalized on Thursday, February 8, 2024. Apeejay Surrendra Park Limited IPO will list on both BSE, NSE and listing date fixed on Monday, February 12, 2024. The book running lead manager of Apeejay Surrendra Park Limited is JM Financial Limited, ICICI Securities Limited, Axis Capital Limited. The registrar for this IPO is Link Intime Private Limited.
About Apeejay Surrendra Park Hotels Limited
Apeejay Surrendra Park Hotels Limited incorporated in 1987, it is engaged in the business of Hospitality operating under the Brand Name of “THE PARK”, The PARK collection”, “Zone by the Park” “ Zone Connect by The Park” and “Stop by Zone”. Moreover, the company is also engaged in the business of retail food and beverages industry through its Brand name “Flurys”. Apeejay Surrendra Park Hotels is the 8th largest Hotel Chain amongst Hotel Chain with asset Ownership in India. They have expertise over five decades in the hospitality business owning and operating hotels with their first Hotel Brand launched named THE PARK in Kolkata. The Company’s Hotel Portfolio has PAN India presence and they continue to attract customers with their diversified portfolio. The company owns restaurants under the brand name of Zen, Lotus, Aish, Saffron, Fire, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar. As of June 2023, the Company has a total 1,923 team members.
Objectives of Apeejay Surrendra Park Hotels IPO
Apeejay Surrendra Park Hotels found IPO is the best and suitable way to raise funds for running its operations. The Net proceeds from this IPO will be utilized for the Repayment or prepayment in full or partly of certain outstanding borrowings availed by the company. Other than this, General corporate purposes like financing of Capital expenditures will also be fulfilled.
Financial Performance of Apeejay Surrendra Park Hotels Limited
Company’s revenue increased by 95.81% and profit after tax increased by 270.42% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| 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 | -28.2 | -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 |
| Amt in Crore |
Other Important Details of Apeejay Surrendra Park Hotels Limited IPO
| IPO Date | February 5, 2024 to February 7, 2024 |
| Listing Date | 12-Feb-24 |
| Face Value | Rs 1 per share |
| Price Band | Rs 147 to Rs 155 per share |
| Lot Size | 96 Shares |
| Total Issue Size | [not announced] shares (amounting to Rs 920.00 Crore) |
| Fresh Issue | [not announced] shares (amounting to Rs 600.00 Crore) |
| Offer for Sale | [not announced] shares of Rs 1 (amounting to Rs 320 Crore) |
| Employee Discount | Rs 7 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 174,661,760 |
Lot Size of Apeejay Surrendra Park Hotels Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 96 | Rs 14,880 |
| Retail (Max) | 13 | 1248 | Rs 193,440 |
| S-HNI (Min) | 14 | 1,344 | Rs 208,320 |
| S-HNI (Max) | 67 | 6,432 | Rs 996,960 |
| B-HNI (Min) | 68 | 6,528 | Rs 1,011,840 |
IPO Reservation of Apeejay Surrendra Park Hotels Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Promoters and Shareholdings of Apeejay Surrendra Park Hotels Limited
The promoters of the company are Karan Paul, Priya Paul, Apeejay Surrendra Trust and Great Eastern Stores Private Limited.
| Shareholding Pre Issue | 94.18% |
| Shareholding Post Issue |
Time-Table of Apeejay Surrendra Park Hotels Limited IPO 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 |
Key Performance Indicator of Apeejay Surrendra Park Hotels Limited
The market capitalization of Apeejay Surrendra Park Hotels Limited Rs 3,307 crore.
| KPI | Values |
| Debt/Equity | 0.99 |
| RoNW | 9.03% |
Lead Manager(s) of Apeejay Surrendra Park Hotels Limited IPO 2024
The book running lead manager for Apeejay Surrendra Park Hotels Limited IPO is JM Financial Limited, ICICI Securities Limited, Axis Capital Limited.
How to Apply for Apeejay Surrendra Park Hotels Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Apeejay Surrendra Park Hotels Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Apeejay Surrendra Park Hotels Limited IPO 2024
The registrar for Apeejay Surrendra Park Hotels Limited IPO is Link Intime India Private Limited. To check your allotment status, please click on this link below https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
- What is Apeejay Surrendra Park Hotels Limited IPO 2024?
Apeejay Surrendra Park Limited IPO 2024 is a book-built issue of Rs 920 crores. The issue is a combination of fresh issue and offer for sale. The Fresh issue is of Rs 600 crore and Offer for sale is of Rs 320 crore. The price band for this IPO is decided at Rs 147 to Rs 155 per share. The minimum lot size of this application for the retail category is 96 shares.
- Who are the lead managers for the Apeejay Surrendra Park Hotels Limited IPO 2024?
JM Financial Limited, ICICI Securities Limited, Axis Capital Limited are appointed as the lead managers for the IPO.
- What is the role of Link Intime India Private Limited in this IPO?
Link Intime India Private Limited is the registrar for the Apeejay Surrendra Park Hotels Limited handling the IPO’s administrative aspects.
- How can I apply for the Apeejay Surrendra Park Hotels Limited IPO 2024?
The public subscription of this IPO has already begun. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The Net proceeds from this IPO will be utilized for the Repayment or prepayment in full or partly of certain outstanding borrowings availed by the company. Other than this, General corporate purposes will also be fulfilled.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Apeejay Surrendra Park Hotels Limited IPO 2024 by clicking on this link https://linkintime.co.in/Initial_Offer/public-issues.html
- What is the financial performance of Apeejay Surrendra Park Hotels Limited?
Apeejay Surrendra Park Hotels Limited’s revenue increased by 95.81% and profit after tax increased by 270.42% between the financial year ending with March 31, 2023 and March 31, 2022.