Apeejay Surrendra Park Hotels establishes a share price range of Rs 147 to Rs 155 for its Rs 920-crore initial public offering.
A leading hospitality brand, Apeejay Surrendra Park Hotels, sets IPO price band at Rs 147 to Rs 155 per share
The Rs 920-crore IPO opens for subscription on February 5. Anchor investors can bid on February 2.
Combination of fresh equity issue (Rs 600 crore) and offer for sale (Rs 320 crore) by promoters and investors.
Promoters plan to sell Rs 296 crore, RECP IV Park Hotel Investors Rs 23 crore, and RECP IV Park Hotel Co-Investors Rs 1 crore
Proceeds from fresh equity to be used for debt repayment and general corporate purposes.
Major brands include The Park, The Park Collection, Zone By The Park, Zone Connect by The Park, and Stop by Zone.
With 30 properties and 2298 keys, Apeejay Surrendra Park Hotels is a major player in the hospitality sector
Development pipeline includes 1,895 rooms across 21 hotels and eight motels. Greenfield projects in Pune, Calcutta, and capacity expansion in Vizag and Navi Mumbai.
Priya Paul, Chairperson, Apeejay Surrendra Park Hotels, mentions, "We now have about 30 properties across 20 cities, 2,298 rooms through a combination of owned, leased, and management contract properties."