The date of Apeejay Surrendra Park Hotels' initial public offering (IPO) has been set: it will launch on February 5 and terminate on February 7. With a fresh issue of 600 crores and an offer for sale of up to 320 crores at a price of 1 each
The hotel portfolio is spread across India, and its diverse offerings continue to draw guests. They divide their hotel portfolio into two distinct groups based on brand: upscale and higher mid-scale.
Park IPO Details
| Face Value | ₹1 per share |
| Price Band | ₹147 to ₹155 per share |
| Lot Size | 96 Shares |
| Listing At | BSE, NSE |
| Face Value | ₹1 per share |
| Price Band | ₹147 to ₹155 per share |
| Lot Size | 96 Shares |
| Total Issue Size | Aggregating up to ₹920.00 Cr |
| Fresh Issue | Aggregating up to ₹600.00 Cr |
| Offer for Sale | Aggregating up to ₹320.00 Cr |
| Issue Type | Book Built Issue IPO |
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Park Hotels' IPO date is February 5, with a closing date of February 7. The IPO allotment will be concluded on February 8, and the IPO will be listed on February 12.
Park IPO Timeline (Estimate Schedule)
| Anchor Investors Allotment: | February 2, 2024 |
| IPO Open Date: | February 5, 2024 |
| IPO Close Date: | February 7, 2024 |
| Basis of Allotment: | February 8, 2024 |
| Refunds: | February 9, 2024 |
| Credit to Demat Account: | February 9, 2024 |
| IPO Listing Date: | February 12, 2024 |
The company now owns 20 hotels and has 19 more under development. The addition of 1,505 rooms to the company's "Zone by The Park" and "Zone Connect by The Park" brands through these two properties demonstrates Park Hotels' dedication to an asset-light business model that minimises capital expenditures while optimising management fee income. The Park Hotels, India's eighth-largest hotel network by asset ownership, operates a diversified array of brands. In FY23, The Park hotels reported a RevPAR of approximately Rs 5,571, backed by a high occupancy rate of 91.77 per cent and average room revenue of Rs 6,070.51, indicating strong revenue-generating efficiency.
Company Promoters
Apeejay Surendra Trust, Great Eastern Stores Private Limited, Karan Paul, Priya Pauland
Contact Information of Park hotel Initial Public Offering (IPO)
Address: Apeejay Surrendra Park Hotels Limited: 17, Park Street, Kolkata 700 016 | Phone: +91 33 2249 9000 | Email: investorrelations@asphl.in |
Website: https://www.theparkhotels.com/
Park hotel Initial Public Offering (IPO) Registrar:
Link Intime India Private Ltd | Phone: +91-22-4918 6270 | Email: Signatureglobal.ipo@linkintime.co.in | Website: https://linkintime.co.in/