Park Hotels has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise as much as Rs 1,050 crore through an initial public offering (IPO).
Proceeds of the fresh issue would be utilised toward the payment of debt and for general corporate purposes. JM Financial, Axis Capital, and ICICI Securities are the book-running lead managers to the issue.
The company operates hospitality assets under its brands, The Park, The Park Collection, Zone by The Park, Zone Connect by The Park and Stop by Zone. It has established a presence in the retail food and beverage industry through its retail brand 'Flurys'.
