Apeejay Surrendra Park’s unlisted shares are trading Rs 33 higher on the grey market, representing a listing gain of 21.29 percent from the public offering.
JM Financial Limited, ICICI Securities Limited and Axis Capital Limited are the book-running lead managers of the Apeejay Surrendra Park IPO, while Link Intime India Private Ltd is the registrar for the issue.
Apeejay Surrendra Park’s IPO, which operates ‘The Park’ hotels, is now up for public subscription and will conclude on February 7. On Tuesday, until 11:19 a.m., the IPO got 3.60 times subscription, with bids for 11,86,33,920 shares compared to 3,29,65,998 on offer.
The Rs 920-crore IPO went live for public subscription on February 5 and will remain accessible till February 7.
So far, the retail category has gotten 8.76 times the subscription, while the non-institutional investor (NII) category has received 5.06 times the subscription. The qualified institutional buyer (QIB) category received 1.24 times the subscription.
Apeejay Surrendra Park’s initial public offering (IPO) will be allotted on February 8 and listed on the
Apeejay Surendra Park IPO GMP Today
According to market experts, Apeejay Surrendra Park’s unlisted shares are selling Rs 33 higher on the grey market than the maximum issue price of Rs 155. The Rs 33 grey market premium, or GMP, indicates that the gray market expects a 21.29 percent listing gain from the public offering. The GMP is based on market sentiment and is constantly changing.
The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.
Apeejay Surrendra Park’s IPO Details
The Apeejay Surrendra Park IPO consists of a new issuance of Rs 600 crore and an offer for sale of Rs 320 crore.
The price band for the Apeejay Surrendra Park IPO was set at Rs 147 to Rs 155 per share. The minimum lot size for an application is 96 shares. The minimum investment needed by retail investors is Rs 14,880. The minimum lot size investment for a small NII is 14 lots (1,344 shares), which amounts to Rs 2,08,320, while for a large NII it is 68 lots (6,528 shares), which amounts to Rs 1,011,840.
The issuance includes a reserve of up to 675,675 shares for workers, which are provided at a discount of Rs 7 from the issue price.
The book-running lead managers for the Apeejay Surrendra Park IPO are JM Financial Limited, ICICI Securities Limited, and Axis Capital Limited, with Link Intime India Private Ltd serving as the registrar.
