• Source:PTI
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IPO Listing:  Shares of APJ Surendra Park Hotels, which operates hotels under the 'The Park' brand, were listed on the stock exchange on Monday at a nearly 21 per cent premium. The issue price of the IPO was Rs 155.

The shares rose 20.65 per cent against the IPO's price band and were listed at Rs 187 on the BSE. The stock opened at Rs 186 on the NSE at a premium of 20 per cent.

In the morning trade, the 30-share benchmark BSE Sensex was trading down 214.60 or 0.30 per cent at 71,380.89 points, while the NSE Nifty was down 0.45 per cent at 21,683.85.

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Surendra Park Hotels IPO Details

APJ Surendra Park Hotels' initial public offer (IPO) was subscribed 59.66 times on the last day of bidding on February 7, with heavy participation from qualified institutional buyers.

The Rs 920 crore IPO price range is Rs 147-155 per share. Of the IPO size, shares worth Rs 600 crore were fresh issues and shares worth Rs 320 cr were offered for sale.

The company operates hospitality properties 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 'Fluri's'. The company has 81 restaurants, nightclubs and bars as of September 30, 2023.

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