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The company is the fifth largest nonbanking microfinance company in the country. It has shown a stellar growth in the loan book over the past three years.
The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO.
About 50% of the offer will be available for allocation on a proportionate basis to qualified institutional buyers (QIBs), 15% for non-institutional bidders and 35% for retail investors. The proceeds to the extent of Rs 80.75 crore will be used for funding working capital requirements and general corporate expenses.
According to the draft papers, the proposed IPO of Apeejay Surrendra Park Hotels 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.
The company had filed its DRHP in March this year and received approval from the regulator in September. In October, the Jaipur-based retail jeweller raised Rs 33 crore in its pre-IPO funding round.