Park Hotels IPO day 2: Issue has been subscribed 3.71 times so far

6 Feb 2024 , 12:28 PM

The Apeejay Surrendra Park Hotels Limited’s initial public offering (IPO) opened for subscription on its first day, witnessing a subscription rate of 2.6 times. Click here to subscribe the IPO.

By 12:20 PM on the second day, the subscription rate surged to 3.71 times. Notably, the retail portion of the IPO saw a staggering subscription rate of 9.18 times, while the non-institutional portion received a subscription of 5.31 times. The Qualified Institutional Investors portion of the IPO was subscribed 1.17 times, showcasing solid investor interest. Furthermore, a portion reserved for employees was subscribed 1.36 times.

The price band for the Apeejay Surrendra Park Hotels IPO has been fixed at ₹147 to ₹155 per equity share. The book build issue will remain open for subscription until February 7, 2024. The company aims to raise ₹920 Crore from its book-build offer. Investors will have the opportunity to apply in lots, with each lot comprising 96 company shares.

Link Intime India Private Ltd has been appointed as the official registrar of the book build issue. Upon listing, the public offer is proposed to be listed on both BSE and NSE, offering investors access to Apeejay Surrendra Park Hotels Limited’s shares in the hospitality sector.