Apeejay Surrendra Park Hotels, Kolkata has set a price band between INR 147 and INR 155 per equity share for its initial public offering (IPO) according to the media reports. The company, through its IPO, aims at raising INR 920 crore comprising INR 600 crore through a fresh share sale and INR 320 crore through an offer for sale, it said.
The issue is scheduled to be active from February 5 to February 7. The floor price of INR 147 reflects 53.45 times the price-to-earnings ratio based on diluted EPS (earnings per share) for the fiscal year 2023. While the cap price of INR 155 translates to a ratio of 56.36 times. These ratios compare favourably with the industry average of 73.60 according to the hotel major.
Investors can subscribe to the IPO in lots of 96 equity shares and multiples thereof.