The initial public offer of Apeejay Surrendra Park Hotels, which runs hotels under the “The Park” brand, was fully subscribed on the first day of bidding on Monday and ended with 2.52 times subscription.
The Rs 920 crore IPO received bids for 8,75,33,280 shares against 3,47,61,903 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) received 5.70 times subscription while the quota for non-institutional investors fetched 3.24 times subscription. The portion meant for Qualified Institutional Buyers (QIBs) got subscribed 1.17 times.
The Initial Public Offer (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale component of up to Rs 320 crore.
The IPO has a price range of Rs 147-155 a share.
Those offering shares in the OFS are Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd, and RECP IV Park Co-Investors Ltd.
At present, promoters and promoter group members hold a 94.18 per cent stake in the company, and the
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