After the excellent response to the IPO, the shares of APJ Surendra Park Hotels got listed on Monday. Shares of companies running five-star hotels, restaurants, night clubs and bars in the country were listed at a premium of 20 percent. With this, the company debuted in the market with a market value of about Rs 4000 crore.
Minimum investment of retail investors
The IPO of APJ Surendra Park Hotels was launched on 5 February. The last date for bidding in this IPO was 7 February. In this IPO, the price band of Rs 147 to Rs 155 was fixed for shares with face value of Rs 1 each, while one lot of the IPO included 96 shares. This means that one share had to invest at least Rs 14,880 in this IPO.
This much earning was made on every lot
Grey market is already indicating good listing. was giving. Before listing, shares of Apeejay Surendra Park Hotels were trading with a premium of 25 percent in the gray market. The share opened on BSE at Rs 187, while the upper price band of the IPO was Rs 155. In this way, IPO investors earned Rs 32 on every share and Rs 3,072 on every lot.
The size of the IPO was so big
The size of APJ Surendra Park Hotels IPO. Was Rs 920 crore. The IPO included both offer for sale and fresh equity issue. Fresh equity issues worth Rs 600 crore were made in the IPO, while shares worth Rs 320 crore were offered under OFS. After the IPO, the allotment of shares took place on February 8 and the shares were credited to the demat accounts of successful bidders on February 9.
Scope of the company's business
APJ Surendra in the hospitality sector. Park Hotels Limited has a good name. The company runs hotels and restaurants under the names The Park, The Park Collection, Zone by the Park, Zone Connect by the Park, Stop by Zone etc. The company also has presence in the food and beverage business under the brand name Fluris. Till March 31, 2023, the company was operating 80 restaurants, night clubs and bars. The company has 27 hotels in different cities of the country.
Great subscription in all categories
Its IPO got good response in every category. The IPO was subscribed 79.23 times in QIB category, 55.26 times in NII and 32 times in retail category. The portion kept for employees with a discount of Rs 7 was the least subscribed 5.73 times. Overall this IPO received 62.91 times subscription.