Apeejay Surrendra Park Hotels IPO has got a good response from investors.
When the IPO started, it got fully booked within just 1 hour. By 11:40 am, it was subscribed 2.76 times.
The price range for the IPO shares is between Rs 147 to Rs 155 per share, and each share has a face value of Rs 1.
In the retail category, the IPO got 2.12 times subscription, and in the non-institutional investors section, it received 0.62 times subscription.
However, the section for qualified institutional buyers is still available.
The lot size for the IPO is 96 shares, and investors need to invest at least Rs 14,880. Retail investors can place bets on a maximum of 13 lots.
The IPO for retail investors will be open until February 7. Additionally, the company is offering a discount of Rs 7 per share to its employees.
The allotment of shares to investors is expected to be done by the company on February 9, and the stock market listing is scheduled for February 12.
The company had raised Rs 409.50 crore through anchor investors.
Now, let’s talk about GMP (Grey Market Premium). According to Investors Gain report, the IPO is currently available in the grey market at a premium of Rs 60.
This suggests that if the situation continues until listing, the company might debut in the stock market at Rs 60, potentially giving investors a 38 percent profit on the first day.
