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Apeejay Surrendra Park Hotels Ltd is coming out with a public issue to raise Rs 920 crores from the market.

Below are the details of the Apeejay Surrendra Park Hotels Limited IPO:

• Issue opens – February 05 (Monday)
• Issue closes – February 07 (Wednesday)
• Issue size – Rs 920 crores
• Price band – Rs 147 to 155 per equity share
• Bid lot – 96 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company Details:

• Apeejay Surrendra Park Hotels Limited (“Park Hotels”) was incorporated on November 27, 1987.  Park Hotels is the 8^th largest in India in terms of chain affiliated hotel rooms inventory amongst hotel chains with asset ownership as of September 30, 2023. Of the 45,800 rooms owned by chained affiliated hotels across the country as at September 30, 2023, the company comprises of about 1,300 rooms constituting 2.80% of the total inventory.
• They operate hospitality assets under their own brands, “THE PARK”, “THE PARK Collection”, “Zone by The Park”, “Zone Connect by The Park” and “Stop by Zone”. Park Hotels have a long-standing expertise of over 55 years in the hospitality business of owning and operating hotels, with their 1^st hotel being launched under the brand “THE PARK” at the iconic Park Street in Kolkata. The company classifies (a) "THE PARK" and "THE PARK Collection" brands under the upscale category, and (b) “Zone by The Park”, and “Zone Connect by The Park" under upper mid-scale category.
• Park Hotels has established presence in the retail food and beverage industry through their retail brand ‘Flurys’. They have pioneered the concept of luxury boutique hotels in India under their brand, “THE PARK”, extending it further through and “THE PARK Collection”, and in upper-midscale categories with their brands “Zone by The Park” and “Zone Connect by The Park”.
• Currently the company operates 30 hotels across upscale to upper midscale category, with pan-India presence representing 2,298 rooms. they have grown their business geographically with the opening of 13 managed and leased hotels in the last 3 years, adding 686 rooms to their total portfolio.
• As of September 30, 2023, they operate 81 restaurants, night clubs and bars, offering a wide selection of culinary experiences. The night club and entertainment division contribute to their brand positioning and allows cross-selling opportunities. They have created award-winning brands such as Zen, Someplace Else, Tantra, Roxy, iBar, The Leather Bar, Pasha and Aqua.

Issue Size: Rs. 920 crores

Employee Reservation: Equity Shares aggregating upto ? 10 Cr

Shareholder Discount: Rs.7/- per share

Issue break-up:

QIB – 75% of the net offer – Rs 682.50 crores

NIB – 15% of the net offer – Rs 136.50 crores

RET – 10% of the net offer – Rs 91.00 crores

Listing: BSE and NSE

Registrar: Link Intime India Pvt Ltd

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Wednesday, February 07, 2024

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