Home IPO Title: Key Details about Apeejay Surrendra Park (Park Hotels) IPO, Financials GMP & More

Title: Key Details about Apeejay Surrendra Park (Park Hotels) IPO, Financials GMP & More

by smtfin
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Key Points for Park Hotels IPO:

👉The company operates 80 restaurants, night clubs and bars and 27 hotels

👉The company has total debt of Rs. 597.09 crore as of 30 Sept, 2023

👉Company posted net losses of Rs. 75.88 in FY21 and 28.20 crore in FY22

👉The company owns restaurants under the brand name of Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar.

Issue Date05 to 07 Feb, 2024
Issue SizeRs. 920 crore
Fresh IssueRs. 600 crore
Price BandRs. 147 to 155 per share
Lot Size96 Shares
Employee DiscountRs. 7 per share
Face Value₹1 per share
Issue TypeBook Built Issue Type
Listing AtBSE, NSE
QIB shares offeredNot less than 75% of the net issue
Retail shares offeredNot more than 10% of the net issue
NII shares offeredNot more than 15% of the net issue

Lot Size (Minimum)

Retail96 sharesRs. 14,880
Small – HNI1344 sharesRs. 2,08,320
Big – HNI6528 sharesRs. 10,11,840

Tentative IPO Timelines

Basis of Allotment08 Feb, 2024
Initiation of Refunds09 Feb, 2024
Credit of shares to Demat09 Feb, 2024
Listing Date12 Feb, 2024

About the Company

Incorporated in 1987, Apeejay Surrendra Park Hotels Limited is engaged in the hospitality business operating under the brand names of “THE PARK”, “THE PARK Collection”, “Zone by The Park”, “Zone Connect by The Park” and “Stop by Zone”. The company is also engaged in the business of retail food and beverage industry through its retail brand ‘Flurys.

As of March 31, 2023, the company operates 80 restaurants, night clubs and bars, offering a wide selection of culinary experiences.

The company currently operates 27 hotels, which are spread across different categories such as luxury boutique, upscale, and upper midscale.

The company owns restaurants under the brand name of Zen, Lotus, Aish, Saffron, Fire, Italia, 601, The Bridge, The Street, Verandah, Vista, Bamboo Bay, Monsoon, Mist, Love and Bazaar

Objects of the Issue

The company proposes to utilise the Net Proceeds towards funding the following objects:

  1. Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by the Company; and
  2. General corporate purposes

IPO Promoter Holding

The Promoters of the company are:                                                                  

  1. Karan Paul
  2. Priya Paul
  3. Apeejay Surrendra Trust
  4. Great Eastern Stores Private Limited.
Pre-Issue shareholding94.18%
Post issue shareholding68.13%

Financial Summary                                                                                                         Amount in Rs. crores

ParticularsMarch 2023March 2022March 2021
Revenue524.43267.83190.29
Net Profit / (Loss)48.06(28.20)(75.88)
Total Assets1,361.791,275.181,280.34

GMP / Expected Premium

GMP as on 05-02-2024 is 23%.

Please note GMP is taken from internet and is subject to change in future. Please consult your financial advisor before applying in the IPO.

Conclusion: Can apply for decent lisitng gains.

Disclaimer: The information above is only for information and educational purpose. Please consult your Financial advisor before applying in the IPO.

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