Apeejay Surrendra Park Hotels IPO
Apeejay Surrendra Park Hotels Limited (PARKHOTELS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 12 February 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +33.0% (likely range +20% to +60%), day's high +54.1%, chance of a gain 97%. Actual: +20.0% at the open, +44.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,85,71,428 | 1,39,54,33,920 | 75.1x | |
| NII (HNI) total | 92,85,714 | 48,66,43,776 | 52.4x | |
| Big NII (above ₹10 lakh) | 61,90,476 | 36,13,56,960 | 58.4x | |
| Small NII (₹2-10 lakh) | 30,95,238 | 12,52,86,816 | 40.5x | |
| Retail | 61,90,476 | 18,78,95,712 | 30.4x | |
| Employees | 7,14,285 | 38,70,144 | 5.42x | |
| Total | 3,47,61,903 | 2,07,38,43,552 | 59.7x |
Bids on NSE and BSE together, as published by NSE, as of 07 Feb 2024, 07:00 PM. Shares offered exclude the anchor portion. 8% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Apeejay Surrendra Park Hotels's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Dreamfolks ServicesAug 2022 | 70.5x | 37.7x | 43.7x | 56.7x | ₹562 Cr | +56.0% | +68.4% |
| Cyient DLMJun 2023 | 90.4x | 45.1x | 49.2x | 67.3x | ₹629 Cr | +52.1% | +61.1% |
| Credo Brands MarketingDec 2023 | 105x | 55.5x | 19.9x | 51.9x | ₹550 Cr | +0.8% | +16.0% |
| Gandhar Oil Refinery (India)Nov 2023 | 129x | 62.2x | 28.9x | 64.1x | ₹509 Cr | +76.3% | +103.6% |
| RailTel Corporation of IndiaFeb 2021 | 65.1x | 73.3x | 16.8x | 42.4x | ₹820 Cr | +16.0% | +36.0% |
| Jyoti CNC AutomationJan 2024 | 44.1x | 36.5x | 26.2x | 38.5x | ₹1,051 Cr | +11.8% | +34.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| Axis Capital | 107 | +20.4% | 73% |
| ICICI Securities | 109 | +21.3% | 69% |
Offer documents (NSE)
Frequently asked
What is the Apeejay Surrendra Park Hotels IPO price band and lot size? ₹147–155 per share, with a lot of 96 shares, so the smallest retail bid is ₹14,880.
How many times has it been subscribed? 59.7x overall: QIB 75.1x, NII 52.4x, retail 30.4x, employees 5.42x.
How did it list? It opened at ₹186, +20.0% against the issue price of ₹155, and closed its first day +31.3%.
