HBI Staff | Hyderabad 
According to PTI, Apeejay Surrendra Park Hotels Ltd, renowned for its “The Park” brand of hotels, has taken a significant step towards expansion by filing preliminary papers with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). The proposed IPO aims to raise Rs 1,050 crore, with a breakdown including a fresh issuance of equity shares amounting to Rs 650 crore and an offer for sale (OFS) of equity shares totaling Rs 400 crore, contributed by both promoters and investor shareholders. Notable entities participating in the OFS include Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd, and RECP IV Park Co-Investors Ltd.
Currently, the promoters and promoter group collectively possess a 94.18 percent stake in the company, while the remaining 5.82 percent of shareholding is owned by the two investors.
The funds raised from the fresh issuance are intended for the repayment of debt and general corporate purposes. Apeejay Surrendra Park Hotels Ltd operates under several brand names including The Park, The Park Collection, Zone by The Park, Zone Connect by The Park, and Stop by Zone. The company’s influence extends beyond hospitality, encompassing the retail food and beverage industry through its renowned brand ‘Flurys’. This strategic move to tap into the capital markets reflects the company’s aspirations for growth and diversification in the dynamic hospitality and retail sectors.
