Apeejay Surrendra Park IPO: Apeejay Surrendra Park Hotel Limited’s initial public offering (IPO) is scheduled to launch on the Indian primary market today. The IPO price range for Apeejay Surrendra park ,hotels has been set by the company at ₹147 to ₹155 per equity share. The book build problem will be open until February 7, 2024. The proposal is for the public offer to be listed on the NSE and BSE. The hotel chain wants to raise ₹920 crore with its book-build proposal.
On the day of the IPO for Apeejay Surrendra Park Hotels, company shares are traded on the gray market. Stock market watchers claim that shares of Apeejay Surrendra park ,hotels Limited are currently available on the grey market for a premium of ₹62.
Subscription status for Apeejay Surrendra Park Hotels’ initial public offering
Day 2 of the bidding saw 4.72 bookings for the book build issue by 2:57 PM, while the retail portion had 11.48 subscriptions. While the QIB portion of the book build issue has only been booked once, the NII portion has been subscribed to 7.42 times.
Key details about the IPO of Apeejay Surrendra Park Hotels
1] The hospitality company’s shares, Apeejay Surrendra Park Hotels IPO GMP, are currently listed on the grey market at a premium of ₹62.
2}IPO cost for Apeejay Surrendra Park Hotels A fixed price band of ₹147 to ₹155 per equity share has been set by the company for its public offering.
3}The IPO date of Apeejay Surrendra Park Hotels Starting today and running through February 7, 2024, is the book build issue.
4] The size of the IPO for Apeejay Surrendra Park Hotels: The hospitality company wants to raise ₹920 crore through its IPO, of which ₹600 crore is intended to be raised by issuing new shares. The OFS route is allocated the remaining ₹320 crore.
[5] Apeejay Surrendra Park Hotels IPO lot size: Bidders may submit multiple applications; a single lot for the book build issue will include 96 enterprise shares.
6}The date of the IPO allocation for Apeejay Surrendra Park Hotels is expected to be Thursday, February 8, 2024, due to T+3 listing regulations.
7}The official registrar of the book build issue for Apeejay Surrendra Park Hotels is Link Intime India Private Ltd.
8}Listing of the public offering on the BSE and NSE is proposed for Apeejay Surrendra Park Hotels IPO.
- 9}Apeejay Surrendra Park Hotels Initial Public Offering (IPO) date: February 12, 2024 is when the public offering is anticipated to take place.
Should I apply for the Apeejay Surrendra Park Hotels IPO?
10} Review of Apeejay Surrendra Park Hotels IPO: Dhruv Mudaraddi, Research Analyst at Stoxbox, tagged the public issue as “subscribe.” Apeejay Surrendra Park Hotels Ltd. is situated at the crossroads of the recovering hospitality sector and the post-pandemic economic upswing.
The hotel industry’s outstanding performance over the past year, which reflects positive market sentiment and hope for the sector’s recovery, is indicative of the resurgence. The IPO date of ASPH places the business in a strategic position to benefit from this encouraging trend.
Over time, the company’s strong brand presence and credibility in the hospitality industry will probably guarantee that its valuations are respected. The company’s diversified pan-Indian portfolio allows it to capture opportunities at a granular level by distributing its risk across multiple markets and geographical areas. Its historically high occupancy rates also indicate that net margins will rise, supporting the company’s growth trajectory and financial stability.
The valuation is reasonable when compared to peers, but the relatively high P/E ratio—56.4 times based on FY23 EPS—reflects market optimism. We rate the problem as SUBSCRIBE based on these advantages.
Anirudh Garg, a partner and fund manager at INVAsset, discussed whether or not investors should apply for the book build issue, stating that the high occupancy rates, average revenue per room, and variety of Apeejay Surrendra Park Hotels’ operations—which include a F&B segment headed by Flurys and a number of restaurants and bars—may pique their interest. The company intends to use the proceeds for debt repayment and general corporate purposes, positioning itself for future growth and expansion. The promoter holding will decrease from 94.18% to 68.13% following the IPO.
Prominent brokerages Choice Broking, Marwadi Financial Services, Mehta Equities, Ventura Securities, and BP Equities have all subscribed to the book build issue.
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