Apeejay Surrendra Park Hotels Limited shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Monday, February 5th 2024.
The total offer size of Equity Shares aggregating up to Rs 920 crore comprises of fresh issue aggregating up to Rs 600 crore and Offer for Sale aggregating up to Rs 320 crore by Selling Shareholders. The Anchor Investor Bidding Date shall be Friday, February 2nd, 2024. The Bid/Offer will open on Monday, February 5th 2024 for subscription and will close on Wednesday, February 7th 2024.
The Price Band of the Offer has been fixed at Rs 147 to Rs 155 per Equity Share. Bids can be made for a minimum of 96 Equity Shares and in multiples of 96 Equity Shares thereafter.
The Company proposes to utilise net proceeds from fresh issue of Equity Shares towards repayment/ prepayment, in full or in part of certain outstanding borrowings availed by Company and balance amount towards general corporate purposes.
The offer for sale comprises of sale of Equity shares aggregating up to Rs 296 crore by Apeejay Private Limited, up to Rs 23 crore by RECP IV Park Hotel Investors Ltd and up to Rs 1 crore by RECP IV Park Hotel Co-Investors Ltd.
JM Financial Limited, Axis Capital Limited and ICICI Securities Limited are the Book Running Lead Managers or BRLMs to the Issue. This Equity Shares are proposed to be listed on the BSE and the NSE.
