Park Hotels IPO makes strong debut in weak market; lists at 21% premium
The ₹920-crore IPO of Apeejay Surrendra Park Hotels was subscribed 62.91 times; portions for retail investors, QIB, and NII were booked 32x, 79.23x, and 55.26x, respectively.
The ₹920-crore IPO of Apeejay Surrendra Park Hotels was subscribed 62.91 times; portions for retail investors, QIB, and NII were booked 32x, 79.23x, and 55.26x, respectively.
The quota for retail investors was booked 5.2 times, while the portion set aside for QIB and NII received 1.16 times and 2.46 times bids, respectively.
Park Hotels looks to raise ₹930 crore via IPO route, a mixture of fresh issuance of equities worth ₹600 crore and an OFS of ₹320 crore shares.
This IPO is poised to be the second largest in the hotels & resorts sector after Chalet Hotels’ ₹1,641 crore offering in February 2019.