Apeejay Surrendra Park Hotels Ltd. has introduced to open its ₹920-crore Initial Public Offering (IPO) on February 5, 2024 within the price band of ₹ 147 to ₹ 155 per fairness share of face worth of ₹ 1 every. The IPO will shut on Wednesday, February 7, 2024. Bids will be made for at least 96 fairness shares and in multiples of 96 shares thereafter.
The IPO includes contemporary situation aggregating as much as ₹600 crore and Offer for Sale aggregating as much as ₹320 crore by promoting shareholders. The firm proposes to utilise the web proceeds from contemporary situation in the direction of reimbursement/ prepayment, in full or in a part of sure excellent borrowings availed by it and stability quantity in the direction of common company functions.
The provide on the market includes sale of fairness shares aggregating as much as ₹ 296 crore by Apeejay Private Ltd., as much as ₹23 crore by RECP IV Park Hotel Investors Ltd. and as much as ₹1 crore by RECP IV Park Hotel Co-Investors Ltd.
