Park Hotels shares make decent debut on bourses, list at around 21% premium

Shares of Apeejay Surrendra Park Hotels on Monday were listed on stock exchanges with a premium of around 21 per cent against the issue price of Rs 155. The stock got listed at Rs 187 on the BSE i.e. at a premium of 20.65 per cent from the issue price. On the NSE, the stock made its debut at Rs 186 with a premium of 20 per cent.

Earlier, the Initial Public Offering (IPO) of Apeejay Surrendra Park Hotels was subscribed 59.66 times on the final day of bidding on February 7, with heavy participation coming in from qualified institutional buyers.

The Rs 920-crore IPO had a price range of Rs 147-155 per share.

The IPO had a fresh issue of up to Rs 600 crore and an offer for sale of up to Rs 320 crore.

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 also established a presence in the retail food and beverage industry through its brand 'Flurys'.

The company has 81 restaurants, nightclubs and bars as of September 30, 2023.