Apeejay Surrendra Park Hotels IPO Retail Portion Fully Subscribed Within an Hour: Latest Updates

The retail segment of the Apeejay Surrendra Park Hotels IPO witnessed full subscription within just one hour of its launch, marking a strong start for the initial public offering. As of 11:30 AM, the overall subscription status stands at 46%. The IPO, which commenced today, is scheduled to close on February 7, with the allotment of shares expected to be tentatively finalized on February 8.

The price band for the Apeejay Surrendra Park Hotels IPO ranges from ₹147 to ₹155 per equity share, with a face value of ₹1 each. Anchor investors had already contributed ₹409 crore to the IPO on February 2. The lot size for the IPO is set at 96 equity shares, with multiples of 96 equity shares available thereafter.

In terms of allocation, the public issue has reserved a minimum of 75% of shares for qualified institutional buyers (QIBs), up to 15% for non-institutional institutional investors (NIIs), and a maximum of 10% for retail investors.

The allotment of shares is anticipated to be finalized on February 8, with refunds set to be initiated on February 9. Allottees can expect the shares to be credited to their demat accounts on the same day as the refund. The IPO is slated for listing on both BSE and NSE on February 12.

With a total value of ₹920 crore, the Apeejay Surrendra Park IPO comprises a fresh issue of equity shares amounting to ₹600 crore and an offer-for-sale (OFS) totaling ₹320 crore. The funds raised through this IPO will be utilized for general corporate operations and potential return or prepayment. The registrar for the IPO is Link Intime India Private Ltd, while JM Financial Limited, ICICI Securities Limited, and Axis Capital Limited are the book running lead managers.