Park Hotels

Radhakrishnan, who was formerly the Chief Investment Officer (Equity) at Franklin Templeton India, will also take over as the Managing Director (MD) in July 2024

The initial public offering of Apeejay Surrendra Park Hotels, which runs hotels under the 'The Park' brand, got subscribed 5.82 times on the second day of the offer on Tuesday. The Rs 920 crore-IPO received bids for 20,21,97,696 shares against 3,47,61,903 shares on offer, as per NSE data. The portion for Retail Individual Investors (RIIs) fetched 13.11 times subscription while the quota for non-institutional investors got subscribed 10.35 times. The category for Qualified Institutional Buyers (QIBs) attracted 1.26 times subscription. The initial share sale of Apeejay Surrendra Park Hotels was fully subscribed on the first day of bidding on Monday. The Initial Public Offering (IPO) has a fresh issue of up to Rs 600 crore and an Offer For Sale (OFS) component of up to Rs 320 crore. Price range for the offer is Rs 147-155 a share. Those offering shares in the OFS are Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd and RECP IV Park Co-Investors Ltd. At pre

The initial public offer of Apeejay Surrendra Park Hotels, which runs hotels under the "The Park" brand, was fully subscribed on the first day of bidding on Monday and ended with 2.52 times subscription. The Rs 920 crore IPO received bids for 8,75,33,280 shares against 3,47,61,903 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 5.70 times subscription while the quota for non-institutional investors fetched 3.24 times subscription. The portion meant for Qualified Institutional Buyers (QIBs) got subscribed 1.17 times. The Initial Public Offer (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale component of up to Rs 320 crore. The IPO has a price range of Rs 147-155 a share. Those offering shares in the OFS are Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd, and RECP IV Park Co-Investors Ltd. At present, promoters and promoter group members hold a 94.18 per cent stake in the company, and the

The company, through its IPO, aims at raising Rs 920 crore comprising Rs 600 crore through a fresh share sale and Rs 320 crore through an offer for sale, it said

Apeejay Surrendra Park Hotels Ltd, which runs hotels under the "The Park" brand, has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,050 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 650 crore and an offer for sale (OFS) of equity shares to the tune of Rs 400 crore by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed on Saturday. Those offering shares in the OFS are Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd, and RECP IV Park Co-Investors Ltd. At present, promoters and promoter group members hold a 94.18 per cent stake in the company, and the two investors own 5.82 per cent shareholding in the firm. Proceeds of the fresh issue would be utilised toward the payment of debt and for general corporate purposes. The company operates hospitality assets under its brands, The Park, The Park Collection, Zone by The Park, Zone .

ITC group firm Fortune Park Hotels Ltd plans to add 15 new properties with 1,500 rooms in the next two-and-a-half years to its portfolio as part of its expansion across India, according to company Managing Director Samir MC. The hospitality firm, which currently has 42 properties with room inventory of around 3,200, is looking to cater to a strong domestic demand in smaller cities and also from pilgrimage tourism. "In a country like ours, we are very high on domestic travel, and that will just continue increasing at a higher rate than what the inbound would increase. So, definitely for a chain like ours, that's a key factor which defines our strategy of growth," Samir told PTI. Hence, he said, "We look at growing into various parts of the country, whether it's Tier one, Tier two, Tier three." Given the fact Fortune Park Hotels is a "hardcore Indian company", Samir said it understands the Indian consumers, their expectations and the behaviours very well, besides the cultural element

Company currently has an inventory of 1,937 rooms across 22 hotels which it intends to take up to 3,473

The shares of the company are proposed to be listed on the BSE and NSE

The group currently manages 1,750 rooms across properties under two brands -- 'The Park' and 'Zone'