Apeejay Surrendra Park IPO Day 2: Check Subscription Status, GMP Today

Apeejay Surrendra Park IPO: The initial public offering of Apeejay Surrendra Park IPO, which runs ‘The Park’ hotels, is open for public subscription and will be closed on February 7. Till 11:19 am on the second day of bidding on Tuesday, the IPO received 3.60 times subscription, garnering bids for 11,86,33,920 shares as against 3,29,65,998 shares on offer.

The Rs 920-crore IPO was opened for public subscription on February 5, and will remain available till February 7.

The retail category has so far received 8.76 times subscription and the non-institutional investor (NII) category quota got 5.06 times subscription. The qualified institutional buyer (QIB) category got 1.24 times subscription.

The allotment of Apeejay Surrendra Park IPO will take place on February 8, while its listing will take place on the NSE SME on February 12, 2024.

Apeejay Surrendra Park IPO GMP Today

According to market observers, unlisted shares of Apeejay Surrendra Park are trading Rs 33 higher in the grey market as compared with its upper issue price of Rs 155. The Rs 33 grey market premium or GMP means the grey market is expecting a 21.29 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Apeejay Surrendra Park IPO Details

The Apeejay Surrendra Park IPO is a combination of a fresh issue of Rs 600 crore and an offer for sale of Rs 320 crore.

The price band of the Apeejay Surrendra Park IPO was fixed at Rs 147 to Rs 155 per share. The minimum lot size for an application is 96 shares. The minimum amount of investment required by retail investors is Rs 14,880. The minimum lot size investment for small NII is 14 lots (1,344 shares), amounting to Rs 2,08,320, and for big NII, it is 68 lots (6,528 shares), amounting to Rs 1,011,840.

The issue includes a reservation of up to 675,675 shares for employees offered at a discount of Rs 7 to the issue price.

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.