Meanwhile, on Apeejay Surrendra Park Hotels’ IPO opening date, company shares are available for trade in the gray market. According to stock market observers, shares of Apeejay Surrendra Park Hotels Limited are available at a premium of ₹62 in the grey market today, say market observers.
Apeejay Surrendra Park Hotels IPO subscription status
By 10:42 AM on day 2 of bidding, the book build issue had been booked 3.23 times whereas its retail portion got subscribed 7.74 times. The NII portion got subscribed 4.51 times while QIB portion of the book build issue has been booked 1.17 times.
Important Apeejay Surrendra Park Hotels IPO details
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1] Apeejay Surrendra Park Hotels IPO GMP: Shares of the hospitality company are available at a premium of ₹62 in the grey market today.
2] Apeejay Surrendra Park Hotels IPO price: The company has fixed price band of the public issue at ₹147 to ₹155 per equity share.
3] Apeejay Surrendra Park Hotels IPO date: The book build issue has opened today and will remain open till 7th February 2024.
4] Apeejay Surrendra Park Hotels IPO size: The hospitality company aims to raise ₹920 crore from its public offer out of which ₹600 crore is aimed through issuance of fresh shares. The rest of ₹320 crore is reserved for the OFS route.
5] Apeejay Surrendra Park Hotels IPO lot size: A bidder will be able to apply in lots and one lot of the book build issue will comprise 96 company shares.
6] Apeejay Surrendra Park Hotels IPO allotment date: In the wake of T+3 listing rules, share allocation is most likely on 8th February 2024 i.e. on Thursday next week.
7] Apeejay Surrendra Park Hotels IPO registrar: Link Intime India Private Ltd has been appointed as the official registrar of the book build issue.
8] Apeejay Surrendra Park Hotels IPO listing: The public issue is proposed for listing on BSE and NSE.
9] Apeejay Surrendra Park Hotels IPO listing date: The public issue is expected to be listed on 12th February 2024.
Apeejay Surrendra Park Hotels IPO: Apply or not?
10] Apeejay Surrendra Park Hotels IPO review: Giving ‘subscribe’ tag to the public issue, Dhruv Mudaraddi, Research Analyst at Stoxbox said, “Apeejay Surrendra Park Hotels Ltd. stands at the intersection of a resurgent hospitality industry and a post-pandemic economic rebound. The resurgence is evident in the remarkable performance of the hotel sector over the past year which reflects buoyant market sentiment and optimism toward the sector’s recovery. The timing of ASPH’s IPO strategically positions the company to capitalize on this positive momentum. The company has built a strong brand presence and credibility within the hospitality industry which is likely to ensure that its valuations are respected over time. With a diversified pan-India portfolio, the company effectively spreads its risk across various geographic regions and market segments, enabling it to capture opportunities in a granular fashion. Moreover, the company’s historically high occupancy rates bode well for improving net margins, thereby contributing to its financial stability and growth trajectory. The valuation, although reasonable compared to peers, reflects market optimism in the relatively high P/E ratio, which stands at 56.4 times based on FY23 EPS. Based on these positives we give the issue a “SUBSCRIBE” rating.”
On whether one should apply for the book build issue or not, Anirudh Garg, Partner and Fund Manager at INVAsset said, “Investors’ interest may be piqued by Apeejay Surrendra Park Hotels’s high occupancy rates, average revenue per room, and the diversity of its operations, which include the F&B segment led by ‘Flurys’ and various restaurants and bars. The post-IPO promoter holding will reduce from 94.18% to 68.13%, and the company plans to use the proceeds for debt repayment and general corporate purposes, positioning itself for future growth and expansion.”
Leading brokerages BP Equities, Ventura Securities, Mehta Equities, Marwadi Financial Services, and Choice Broking have also given a ‘subscribe’ tag to the book build issue.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 05 Feb 2024, 09:07 AM IST
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
