Apeejay Surrendra Park Hotels IPO

Apeejay Surrendra Park Hotels IPO Details: Apeejay Surrendra Park Hotels IPO date is fixed, the IPO is to hit the market on February 5 and will close on February 7. Apeejay Surrendra Park Hotels IPO to raise around ₹920 crores via IPO that comprises fresh issue of ₹600 crores and offer for sale up to ₹320 crores of ₹1 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.

Apeejay Surrendra Park Hotels is the 8th largest hotel chain amongst hotel chains with asset ownership in India (Source: Horwath HTL Report). They operate hospitality assets under their brands, “THE PARK”, “THE PARK Collection”, “Zone by The Park”, “Zone Connect by The Park” and “Stop by Zone”. They have a long-standing expertise of over five decades in the hospitality business of owning and operating hotels, with their first hotel being launched under their brand “THE PARK” at the iconic Park Street in Kolkata. They have established a presence in the retail food and beverage industry through their retail brand ‘Flurys’. They have pioneered the concept of luxury boutique hotels in India under their brand, “THE PARK”, extending it further through “THE PARK Collection”, and in upper midscale categories with their brands “Zone by The Park” and “Zone Connect by The Park”.

The hotel portfolio has a PAN-India presence, and they continue to attract their customers with their diversified portfolio. They categorize their hotel portfolio into two distinct hotel categories based on brand classification – upscale, and upper mid-scale. They operate hotels under the following four brands, namely “THE PARK, “THE PARK Collection”, “Zone by The Park”, “Zone Connect by The Park” and have recently launched their economy motel brand, “Stop by Zone”:

• “THE PARK” brand is positioned as an upscale brand with a luxury boutique offering, with a brand philosophy that concentrates on design, style, and service to create differentiated and unique experiences at each hotel.
• “THE PARK Collection” brand encompasses small luxury properties located at selected travel destinations targeted at the luxury hotel category delivering personalized guest experiences.
• The “Zone by The Park” brand is positioned at the upper midscale level. It is designed for price-conscious and design-conscious customers.
• “Zone Connect by The Park” is an upper midscale brand that channels its spirit and design philosophy from Zone by The Park.
• “Stop by Zone” is an economy motel brand that aims to provide convenient accommodation with easy access to parking, free Wi-Fi along food services.

• Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by the Company
• General corporate purposes

Current GMP is 35rs or 23%

IPO Open:	February 5, 2024
IPO Close:	February 7, 2024
IPO Size:	Approx ₹920 Crores
Fresh Issue:	Approx ₹600 Crores
Offer for Sale:	Approx ₹320 Crores
Face Value:	₹1 Per Equity Share
IPO Price Band:	₹147 to ₹155 Per Share
IPO Listing on:	BSE & NSE
Retail Quota:	10%
QIB Quota:	75%
NII Quota:	15%
Discount:	₹7 for Employees