Mumbai: The IPO of Apeejay Surrendra Park Hotels, a Delhi-based company that runs luxury five star hotels, is hitting the market today. In this, investors will be able to bid the day after tomorrow, i.e. till 7th February. In this IPO, the company has fixed the price band of Rs 147 to Rs 155 for one share. Here we are telling all the important information about this IPO.
How much is the IPO?
This company, which runs business under the brand name Park Hotels, wants to raise Rs 920 crore through IPO. There is a plan to raise Rs 600 crore through sale of fresh shares and Rs 320 crore through offer for sale (OFS). Out of this, the company has also raised Rs 409.5 crore from anchor investors. According to a circular released on the BSE website on Friday, the company has decided to allot 2.64 crore equity shares to 37 investors at Rs 155 per share. This is also the upper end of the price range.
Which companies are among the anchor investors?
The anchor investors of Park Hotel IPO include Societe Generale, Citigroup Global Markets Mauritius, Integrated Core Strategies (Asia) Private Limited, Bajaj Allianz Life Insurance Company, SBI General Insurance Company, Kotak Mahindra Life Insurance Company and CLSA Global Markets Private Limited among others. Are. Apart from this, ICICI Prudential Mutual Fund, Edelweiss Mutual Fund, Whiterock Capital, Bandhan Mutual Fund and Quant Mutual Fund also participated in the anchor phase.
When will it open for subscription to general investors?
The IPO of Apeejay Surendra Park Hotels will open for subscription to general investors today i.e. from February 5 to February 7. In this, investors can bid for a minimum of 96 shares and in multiples of 96 thereafter. Therefore the minimum investment of retail investors will be Rs 14,112. At the upper level the bid amount will increase to Rs 14,880.
How many shares reserved for whom?
In this IPO, at least 75% shares were reserved for qualified institutional buyers i.e. QIBs, up to 15% for non-institutional investors i.e. NII and 10% shares were reserved for retail investors. Are.
What is its gray market premium?
Investors are likely to earn good profits in the IPO of Park Hotel. This morning its price in the gray market was being said to be Rs 215. Meaning that if the upper price band of the IPO is considered as the issue price, then the premium on each share will be Rs 60. That means 38.71 percent earning is confirmed.
Who is the merchant banker of Park Hotels IPO?
There are many merchant bankers in the Park Hotel IPO. These include JM Financial, Axis Capital and ICICI Securities. During this period, promoter APJ will sell shares worth Rs 296 crore in the OFS, while investors RECP IV Park Hotel Investors and RECP IV Park Hotel Co-Investors will sell shares worth Rs 23 crore and Rs 1 crore respectively.