
Shares of Apeejay Surrendra Park Hotels listed at a premium of 20.65% to the IPO issue price on Monday. The stock opened at Rs 187 against the IPO price of Rs 155 per share on BSE. Market cap of the firm rose to Rs 3,990 crore. On NSE, the stock opened at Rs 186. Market cap of the hospitality firm climbed to Rs 3,968 crore.
The IPO of Apeejay Surrendra Park Hotels was held from February 5 to February 7. The share sale was subscribed 62.91 times on the final day, thanks to strong interest from qualified institutional bidders (QIBs), who placed their bids on the last day. Their portion was booked 75.14 times. The quota for non-institutional investors was subscribed 52.41 times, and the portions reserved for retail investors and employees were subscribed 30.35 times and 5.42 times, respectively.
The company raised Rs 920 crore from its IPO, which included a fresh share sale of Rs 600 crore and offer-for-sale (OFS) of up to 2.06 crore equity shares.
Apeejay Surrendra Park Hotels 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, incorporated in 1987, is also engaged in the business of retail food and beverage industry through its retail brand 'Flurys'.
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