Apeejay Surrendra Park Hotels IPO Day 2: GMP, Review, Subscription Status & Other Details. Buy or not? | Top Vip News

Meanwhile, on the opening date of Apeejay Surrendra Park Hotels’ IPO, the company’s shares are available for trading in the gray market. According to stock market observers, shares of Apeejay Surrendra Park Hotels Limited are available at a premium of $There are currently 62 on the gray market, market watchers say.

Apeejay Surrendra Park Hotels IPO Subscription Status

As of 11:06 am on day 2 of the bidding, the book creation edition had been booked 3.35 times, while its retail part had been subscribed 8.15 times. The NII part was subscribed 4.67 times, while the QIB part of the book issue was booked 1.17 times.

Important Details of Apeejay Surrendra Park Hotels IPO

1) Apeejay Surrendra Park Hotels IPO GMP: Shares of the hotel company are available at a premium of $62 on the gray market today.

2) Apeejay Surrendra Park Hotels IPO price: The company has set a price band for the public issue in $147 a $155 per share.

3) Apeejay Surrendra Park Hotels IPO date: The book creation edition opened today and will remain open until February 7, 2024.

4) Apeejay Surrendra Park Hotels IPO Size: The hospitality company intends to raise $920 crore from its public offering of which $It is intended to reach 600 million rupees by issuing new shares. The rest of $320 crore is reserved for the OFS route.

5) Apeejay Surrendra Park Hotels IPO Lot Size: A bidder may apply in batches and one batch of the book issue will consist of 96 shares of the company.

6) Apeejay Surrendra Park Hotels IPO allotment date: Following the T+3 listing norms, the share allocation will most likely take place on February 8, 2024, i.e. Thursday next week.

7) Apeejay Surrendra Park Hotels IPO Registrar: Link Intime India Private Ltd has been appointed as the official registrar of book publishing.

8) Apeejay Surrendra Park Hotels IPO Listing: Public issue is proposed for listing on BSE and NSE.

9) Apeejay Surrendra Park Hotels IPO Date: The public issue is expected to be listed on February 12, 2024.

Apeejay Surrendra Park Hotels IPO: To Apply or Not?

10) Apeejay Surrendra Park Hotels IPO Review: Dhruv Mudaraddi, Research Analyst at Stoxbox, tagging the public issue with the tag ‘subscribe’, said: “Apeejay Surrendra Park Hotels Ltd. sits at the intersection of a resurgent hotel industry and a post-pandemic economic rebound. The resurgence is evident in the notable “The performance of the hotel sector over the past year reflects buoyant market sentiment and optimism towards 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 sector. industry that is likely to ensure that its valuations are respected over time. With a diversified portfolio across India, the company effectively spreads its risk across various geographies and market segments, allowing it to capture opportunities on a granular basis. Historically high occupancy rates bode well for improving net margins, thereby contributing to its financial stability and growth trajectory. The valuation, while 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 issue a “SUBSCRIBE” rating.

On whether to apply for book issuance or not, Anirudh Garg, Partner and Fund Manager at INVAsset, said, “Investor interest may be piqued by Apeejay Surrendra Park Hotels’ high occupancy rates, average revenue per room and the diversity of its operations, which include the F&B segment led by ‘Flurys’ and several restaurants and bars. The promoter’s stake post-IPO will be reduced from 94.18% to 68.13%, and the company plans to use income 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 ‘subscription’ tag to the bookbuilding issue.

Disclaimer: The opinions and recommendations above are those of individual analysts, experts and brokerage firms, not those of Mint. We advise investors to consult certified experts before making any investment decisions.

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Posted: Feb 5, 2024, 09:07 am IST