Apeejay Surrendra Park Hotels IPO GMP

Apeejay Surrendra Park Hotels Limited, one of India’s leading hotel chains, has recently unveiled its Initial Public Offering (IPO) on both the NSE and BSE exchanges. This blog aims to provide a detailed overview of the IPO, specifically focusing on the Grey Market Premium (GMP) associated with Apeejay Surrendra Park IPO.

IPO Details

  • Issue Size: Rs 920 Cr (Fresh Issue: Rs 600 Cr, Offer for Sale: Rs 320 Cr)
  • Face Value: Rs 1 per share
  • Issue Price: Rs 147 to Rs 155 per share
  • Lot Size: 96 shares or multiples thereof
  • Subscription Period: 05 Feb to 07 Feb 2024

Also See: Upcoming IPO in India

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Apeejay Surrendra Park IPO GMP

Apeejay Surrendra Park IPO Current GMP: ₹37

The Grey Market Premium (GMP) for Apeejay Surrendra Park IPO is currently at ₹37, suggesting strong investor interest. Considering the price band of ₹155.00, the estimated listing price is anticipated to be ₹192, reflecting a potential gain of 23.87%.

Day-wise GMP Trend

Here is the GMP data for Apeejay Surrendra Park IPO: [ Last Updated: 10 Feb, 2024; 08:45]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
10-02-2024155.00₹372700/37800₹192 (23.87%)
09-02-2024155.00₹372700/37800₹192 (23.87%)
08-02-2024155.00₹413000/42000₹196 (26.45%)
07-02-2024155.00₹413000/42000₹196 (26.45%)
06-02-2024155.00₹342500/35000₹189 (21.94%)
05-02-2024155.00₹332400/33600₹188 (21.29%)
04-02-2024155.00₹604400/61600₹215 (38.71%)
03-02-2024155.00₹654700/65800₹220 (41.94%)
02-02-2024155.00₹705100/71400₹225 (45.16%)
01-02-2024155.00₹443200/44800₹199 (28.39%)
31-01-2024155.00₹251800/25200₹180 (16.13%)
30-01-2024155.00₹0₹ (0%)

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Latest IPO GMP

Stay updated on the live GMP status of upcoming and closed IPOs at Stockesta.com. The platform regularly updates IPO GMP performance, allowing you to track and compare GMP and listing prices.

Understanding IPO Grey Market Premium (GMP)

The Grey Market Premium (GMP) signifies the unofficial/unregulated price at which an IPO is traded before listing. It reflects market sentiment and potential listing day performance. A positive GMP suggests profit expectations, while a negative GMP indicates a possible discount.

However, it’s crucial to note that IPO GMP is highly volatile. Relying solely on it for investment decisions can be risky. Consider all factors before investing in Apeejay Surrendra Park IPO.

Also Read: When Can a Company Go for IPO in India

About Apeejay Surrendra Park

Apeejay Surrendra Park Hotels, known as “THE PARK,” is the 8th largest hotel chain in India. With 27 hotels across various categories and brands like “Zone by The Park” and “Stop by Zone,” the company has a strategic presence in metros and emerging cities.

As of March 31, 2023, THE PARK hotels recorded a Revenue per Available Room (RevPAR) of Rs 5,571 with an impressive occupancy rate of 91.77%. The company also operates the retail brand “Flurys,” boasting 80 restaurants, nightclubs, and bars.

Apeejay Surrendra Park IPO Strengths

  • 8th largest hotel company with asset ownership in India
  • Strategically located hotel properties in metros and emerging cities
  • High hotel occupancy rate with a strong financial track record
  • Diversification into food and beverage and entertainment segments
  • Profitable track record of Flurys with leading EBITDA margin
  • Experienced leadership team and strong corporate governance

Also Read: Benefits and Risks of Investing in IPO

IPO Objectives

Apeejay Surrendra Park Hotels plans to utilize the Net Proceeds for:

  1. Repayment/prepayment of outstanding borrowings.
  2. General corporate purposes.

IPO Timeline

  • IPO Open Date: 05-02-2024
  • IPO Close Date: 07-02-2024
  • Basis of Allotment Finalisation Date: 08-02-2024
  • Refunds Initiation: 09-02-2024
  • Credit of Shares to Demat Account: 09-02-2024
  • IPO Listing Date: 12-02-2024 (Tentative)

In conclusion, Apeejay Surrendra Park IPO presents an opportunity for investors to explore a well-established player in the hospitality industry. However, thorough research and consideration of market dynamics are crucial before making investment decisions.

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