Apeejay Surrendra Park Hotels has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise an estimated Rs 1,000 crore through an Initial Public Offering (IPO). The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore. The shares of the company are proposed to be listed on NSE and BSE.
The funds will be utilized towards repayment/prepayment of certain borrowings availed and for general corporate purposes. The book running lead managers to the issue are ICICI Securities, Axis Capital and JM Financial.
The company is part of the Apeejay Surrendra group, a leading Indian conglomerate. The group's business is spread across industries such as hospitality, shipping, tea, real estate, retail brands such as Oxford bookstores, and education.
Company Name | CMP |
---|---|
Indian Hotel | 596.05 |
EIH | 451.90 |
Mahindra Holi.&Resor | 399.75 |
Chalet Hotels | 888.45 |
Lemon Tree Hotels | 134.80 |
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