Discover the exciting debut of Apeejay Surrendra Park Hotels in the Indian market with its IPO priced at ₹147 to ₹155 per share. Dive into the details, market buzz, and expert recommendations to seize a potential investment opportunity in the dynamic hospitality sector.
Apeejay Surrendra Park Hotels
Apeejay Surrendra Park Hotels, a distinguished player in Indian hospitality, showcases a diverse portfolio of strategically located hotels across major metropolitan areas and emerging cities. Committed to excellence, the company seamlessly blends luxury and innovation in the dynamic realm of hospitality.
IPO Overview
The eagerly anticipated initial public offering (IPO) of Apeejay Surrendra Park Hotels Limited is set to make waves in the Indian primary market. Priced between ₹147 and ₹155 per equity share, the IPO aims to raise ₹920 crore through a combination of a fresh share sale (₹600 crore) and an offer-for-sale (OFS) (₹320 crore).
Market Buzz and Gray Market Activity
As the IPO kicks off, Apeejay Surrendra Park Hotels’ shares are already creating a buzz in the gray market, trading at a premium of ₹65, according to market observers. This early enthusiasm reflects investor confidence and anticipation surrounding the hospitality giant’s market debut.
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Subscription Trends
By 3:21 PM on day one of bidding, the book build issue had garnered significant traction, being oversubscribed 2.03 times overall. The retail portion witnessed an impressive 4.71 times oversubscription, showcasing robust interest from individual investors. The NII portion saw a subscription of 2.12 times, while the QIB portion had a subscription of 1.15 times.
Valuation Insights:
Anand Rathi Research suggests a ‘subscribe for long-term’ rating, citing Apeejay Surrendra Park Hotels’ varied portfolio strategically positioned across India. At the upper price band, the company is valued at a P/E of 68.8 times its FY23 earnings, reflecting fair valuations and long-term potential.
Apeejay Surrendra Park Hotels’ IPO unfolds as a compelling opportunity in the hospitality sector. With a rich legacy of excellence and a strategic approach to hotel management, the company’s market debut promises a blend of sophistication and investment potential for discerning investors seeking a foothold in the dynamic world of hospitality.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and NSE have contributed to the above report