Pi News –
Apeejay Surrendra Park Hotels IPO.
Apeejay Surrendra Park’s unlisted shares are trading at Rs 40 higher in the gray market, up 25.81 per cent from the public issue.
Apeejay Surrendra Park IPO: Apeejay Surrendra Park Hotels, which operates The Park Hotels, closed its initial public offering on Wednesday, February 7. The IPO received 60.04 times of subscription and bids till 3:37 PM on the last trading day on Wednesday. 1,97,93,76,480 shares against the offer of 3,29,65,998 shares.
The Rs 920 crore IPO opened for public subscription on February 5.
The retail category has so far been subscribed 29.58 times while the non-institutional investor (NII) category quota has been subscribed 54.04 times. The Qualified Institutional Buyer (QIB) category was subscribed 75.30 times.
Apeejay Surrendra Park Hotels IPO distribution will take place on February 8, with listing on NSE SME on February 12, 2024.
Apeejay Surrendra Park Hotels IPO GMP Today
According to market watchers, unlisted shares of Apeejay Surrendra Park Hotels are trading at a premium of Rs 40 against its high issue price of Rs 155 in the gray market. A gray market premium of Rs 40 or GMP means the gray market is expecting 25.81 percent. benefiting from a public issue. GMP is based on market sentiment and is constantly changing.
The “grey market premium” indicates the willingness of investors to pay more than the issue price.
Apeejay Surrendra Park Hotels IPO Details
Apeejay Surrendra Park Hotels IPO is a combination of Rs 600 crore fresh issue and Rs 320 crore offer for sale.
The price band of Apeejay Surrendra Park Hotels IPO has been fixed at Rs 147 to Rs 155 per share. The minimum lot size for an application is 96 shares. The minimum investment required by retail investors is Rs 14,880. The minimum lot size investment for small NII is 14 lots (1,344 shares) of Rs.2,08,320 and for large NII is 68 lots (6,528 shares) of Rs.1,011,840.
The issue involves 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 Apeejay Surrendra Park are the lead book-running managers of the IPO, while Link Intime India Private Ltd is the registrar of the issue.
(Story updated as of 3:37 p.m. with latest subscription and GMP information)