Analysts believe Park Hotels IPO allows investors to invest in the eighth largest hotel chain, which has a diversified portfolio and strategically positions itself in key markets, leveraging an asset-light model.
Apeejay Surrendra Park Hotels has raised over Rs 409 crore ahead of its IPO. The company s board of Directors have allotted over 2.64 crore equity shares to 37 anchor investors, including domestic mutual funds. The highest allocation has been made to Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund. The Rs 920 crore IPO comprises fresh issue of equity shares and offer for sale by promoter group entity Apeejay Pvt Ltd. Park Hotels operates 27 hotels across upscale and upper-midscale categories.
Four mainboard IPOs along with one SME issue are set to be launched next week to raise as much as Rs 2,700 crore via the primary market. The mainboard offers include Park Hotels, Jana SFB, Capital SFB, and Rashi Peripherals. The lone SME issue is Alex Solar. Additionally, 25 draft offer documents are under process with Sebi, with 30 companies already receiving a green signal to raise over Rs 30,000 crore. The IPOs of Park Hotels, Rashi Peripherals, Capital SFB, and Jana SFB will open for public subscription from February 5-7, February 7, February 7, and February 7 respectively.
Park Hotels IPO: The Rs 920-crore IPO of Apeejay Surrendra Park Hotels, the eighth-largest hotel chain in India, will open for public subscription from February 5-7. The price band is set at Rs 147-155 per share. The IPO includes a fresh issue of equity shares totaling up to Rs 600 crore and an offer for sale (OFS) of Rs 320 crore. The hotel chain aims for a post-issue market capitalization of Rs 3,307 crore based on the upper price band.