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The chain that runs hotels under THE Park brands across segments such as luxury boutique, upscale and upper midscale, currently has 30 hotels across 20 cities. The fresh issue of the chain is of Rs 600 crore and the offer for sale is of Rs 320 rore. The price brand is Rs 147-155 per equity share. The offer opens on February 5 and closes on February 7. The company said the IPO proceeds of about Rs 550 crore will be utilised towards the repayment of the debt. The company had a net debt Rs 550 crore at the end of fiscal year 2023.

The Park Hotels IPO is a mix of fresh issue of shares worth Rs 600 crore and an offer-for-sale of shares worth Rs 320 crore by the promoter and investors

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 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

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).