Apeejay Surrendra Park Hotels IPO ends today: Check subscription status, GMP today

Apeejay Surrendra Park IPO: The IPO of Apeejay Surrendra Park Hotels, which operates “The Park” hotels, closes on Wednesday, February 7. As of 10:21 am on the last day of bidding on Wednesday, the IPO received 7.41 times subscription with bids for 24,43,52,160 shares as against 3,29,65,998 shares for sale.

The IPO, which raised Rs 920 crore, opened for public subscription on February 5.

So far, the retail category has been subscribed 15.74 times, and the non-institutional investor (NII) category quota has been subscribed 14.38 times. The Qualified Institutional Buyer (QIB) category was subscribed 1.34 times.

The rights issue of Apeejay Surrendra Park Hotels IPO will take place on February 8, while its listing will take place on NSE SME on February 12, 2024.

Apeejay Surrendra Park Hotels IPO GMP Today

According to market observers, unlisted shares of Apeejay Surrendra Park Hotels are trading in the gray market at a premium of Rs 34 above the issue price ceiling of Rs 155. The gray market premium or GMP of Rs 34 means gray market is expected to rise 21.94% on public issue listing proceeds. GMPs are based on market sentiment and are constantly changing.

The “grey market premium” indicates that investors are willing to pay more than the issue price.

Apeejay Surrendra Park Hotels IPO Details

The Apeejay Surrendra Park Hotels IPO includes an issue of fresh shares of Rs 600 crore and an offer for sale of Rs 320 crore.

The price band for the Apeejay Surrendra Park Hotels IPO has been fixed at Rs 147 to Rs 155 per share. The minimum lot size requested is 96 shares. The minimum investment amount required for retail investors is Rs 14,880. The minimum investment lot size for small NII is 14 lots (1,344 shares) with an amount of Rs 2,08,320; for large NII the minimum investment lot size is 68 lots (6,528 shares) with an amount of Rs 1,011,840.

The issue includes reservation of up to 675,675 equity shares for employees 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 for the Apeejay Surrendra Park IPO, while Link Intime India Private Ltd is the registrar for the issue.