Apeejay Surrendra Park Hotels Limited IPO (Apeejay Surrendra Park IPO) Detail

Apeejay Surrendra Park Hotels Limited IPO is a book built issue of Rs 920.00 crores. The issue is a combination of fresh issue of Rs 600.00 crores and offer for sale of Rs 320.00 crores.

Apeejay Surrendra Park IPO bidding opened for subscription on February 5, 2024 and will close on February 7, 2024. The allotment for the Apeejay Surrendra Park IPO is expected to be finalized on Thursday, February 8, 2024. Apeejay Surrendra Park IPO will list on BSE, NSE with tentative listing date fixed as Monday, February 12, 2024.

Apeejay Surrendra Park IPO price band is set at ₹147 to ₹155 per share. The minimum lot size for an application is 96 Shares. The minimum amount of investment required by retail investors is ₹14,880. The minimum lot size investment for sNII is 14 lots (1,344 shares), amounting to ₹208,320, and for bNII, it is 68 lots (6,528 shares), amounting to ₹1,011,840.

The issue includes a reservation of up to 675,675 shares for employees offered at a discount of Rs 7 to the issue price.

Jm Financial Limited, ICICI Securities Limited and Axis Capital Limited are the book running lead managers of the Apeejay Surrendra Park IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Apeejay Surrendra Park IPO RHP for detailed information.

Apeejay Surrendra Park Hotels Limited IPO Details

IPO DateFebruary 5, 2024 to February 7, 2024
Listing Date[.]
Face Value₹1 per share
Price Band₹147 to ₹155 per share
Lot Size96 Shares
Total Issue Size[.] shares
(aggregating up to ₹920.00 Cr)
Fresh Issue[.] shares
(aggregating up to ₹600.00 Cr)
Offer for Sale[.] shares of ₹1
(aggregating up to ₹320.00 Cr)
Employee DiscountRs 7 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue174,661,760

Apeejay Surrendra Park IPO Reservation

Apeejay Surrendra Park IPO offers 59,385,352 shares. 17,612,903 (29.66%) to QIB, 8,806,452 (14.83%) to NII, 5,870,968 (9.89%) to RII, 675,675 (1.14%) to employees and 26,419,354 (44.49%) to Anchor investors. 61,155 RIIs will receive minimum 96 shares and 2,184 (sNII) and 4,368 (bNII) will receive minimum 1,344 shares. (in case of oversubscription)

Investor CategoryShares OfferedMaximum Allottees 
Anchor Investor Shares Offered26,419,354 (44.49%)NA
QIB Shares Offered17,612,903 (29.66%)NA
NII (HNI) Shares Offered8,806,452 (14.83%)
  bNII > ₹10L5,870,967 (9.89%)4,368
  sNII < ₹10L2,935,484 (4.94%)2,184
Retail Shares Offered5,870,968 (9.89%)61,155
Employee Shares Offered675,675 (1.14%)NA
Total Shares Offered59,385,352 (100%)

Apeejay Surrendra Park IPO Anchor Investors Details

Apeejay Surrendra Park IPO raises Rs 409.50 crore from anchor investors. Apeejay Surrendra Park IPO Anchor bid date is February 2, 2024. Apeejay Surrendra Park IPO Anchor Investors list

Bid DateFebruary 2, 2024
Shares Offered26,419,354
Anchor Portion Size (In Cr.)409.50
Anchor lock-in period end date for 50% shares (30 Days)March 9, 2024
Anchor lock-in period end date for remaining shares (90 Days)May 8, 2024

Apeejay Surrendra Park IPO Timeline (Tentative Schedule)

Apeejay Surrendra Park IPO opens on February 5, 2024, and closes on February 7, 2024.

IPO Open DateMonday, February 5, 2024
IPO Close DateWednesday, February 7, 2024
Basis of AllotmentThursday, February 8, 2024
Initiation of RefundsFriday, February 9, 2024
Credit of Shares to DematFriday, February 9, 2024
Listing DateMonday, February 12, 2024
Cut-off time for UPI mandate confirmation5 PM on February 7, 2024

Apeejay Surrendra Park IPO Lot Size

Investors can bid for a minimum of 96 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (Min)196₹14,880
Retail (Max)131248₹193,440
S-HNI (Min)141,344₹208,320
S-HNI (Max)676,432₹996,960
B-HNI (Min)686,528₹1,011,840
Lot Size Calculator

Apeejay Surrendra Park IPO Promoter Holding

The promoters of the Company are Karan Paul, Priya Paul, Apeejay Surrendra Trust and Great Eastern Stores Private Limited.

Share Holding Pre Issue94.18%
Share Holding Post Issue68.13%

About Apeejay Surrendra Park Hotels Limited

Incorporated in 1987, Apeejay Surrendra Park Hotels Limited is engaged in the hospitality business operating under the brand names of “THE PARK“, “THE PARK Collection“, “Zone by The Park“, “Zone Connect by The Park” and “Stop by Zone“. The company is also engaged in the business of retail food and beverage industry through its retail brand ‘Flurys.

As of March 31, 2023, the company operates 80 restaurants, night clubs and bars, offering a wide selection of culinary experiences.

The company currently operates 27 hotels, which are spread across different categories such as luxury boutique, upscale, and upper midscale. These hotels are present in various cities in India including Kolkata, New Delhi, Chennai, Hyderabad, Bangalore, Mumbai, Coimbatore, Indore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Visakhapatnam, Port Blair, and Pathankot, offering a total of 2,111 rooms as of August 2023.

The company owns restaurants under the brand name of Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar.

As of June 2023, the company has a total of 1,923 employees.

Apeejay Surrendra Park Hotels Limited Financial Information (Restated Consolidated)

Apeejay Surrendra Park Hotels Limited’s revenue increased by 95.81% and profit after tax (PAT) rose by 270.42% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,382.511,361.791,275.181,280.34
Revenue272.31524.43267.83190.29
Profit After Tax22.9548.06-28.20-75.88
Net Worth578.71555.68508.51536.28
Reserves and Surplus561.24538.22491.05518.81
Total Borrowing597.09566.88622.68593.44
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Apeejay Surrendra Park IPO is Rs 3307 Cr.

KPIValues
Debt/Equity0.99
RoNW9.03%
Pre IPOPost IPO
EPS (Rs) 2.75

Objects of the Issue (Apeejay Surrendra Park IPO Objectives)

The company proposes to utilise the Net Proceeds towards funding the following objects:

  1. Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by the Company; and
  2. General corporate purposes

Apeejay Surrendra Park IPO Review (Apply)

[Dilip Davda]  A niche player and leader of the segment on highest occupancy count, this IPO is sure to attract fancy post listing. A larger chunk of primary issue will be used to cut its debts and resultant boosted bottom line with lower finance cost. With its expansion plans afoot, it is poised for bright prospects. Off late we are also witnessing fancy for hospitality segment counters. Investors may park funds for the medium to long term rewards. 


Apeejay Surrendra Park IPO Subscription Status (Bidding Detail)

The Apeejay Surrendra Park IPO is subscribed 3.76 times on February 6, 2024 11:57:00 AM (Day 2). The public issue subscribed 9.31 times in the retail category, 1.24 times in the QIB category, and 5.30 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription

CategorySubscription (times)Shares OfferedShares bid for
QIB1.241,76,12,9032,17,53,120
NII5.3088,06,4524,66,83,072
    bNII (bids above ₹10L)4.6858,70,9672,74,85,664
    sNII (bids below ₹10L)6.5429,35,4841,91,97,408
Retail9.3158,70,9685,46,77,280
Employee1.396,75,6759,38,112
Total3.763,29,65,99812,40,51,584

Total Application : 462,532

Apeejay Surrendra Park IPO Prospectus

Apeejay Surrendra Park Hotels Limited Contact Details

Apeejay Surrendra Park Hotels Limited
17, Park Street,
kolkata
700 016
Phone: +91 33 2249 9000
Email: investorrelations @asphl.in
Websitehttps://www.theparkhotels.com/

Apeejay Surrendra Park IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: parkhotels.ipo@linkintime.co.in
Websitehttps://linkintime.co.in/initial_offer/public-issues.html

Apeejay Surrendra Park IPO – Buy or Not

Apeejay Surrendra Park IPO Recommendation Summary

Review BySubscribeNeutralAvoid
Brokers510
Members400

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