Key Objective
Initial public offering of 59,385,351* equity shares of face value of Re. 1 each ("Equity Shares") of Apeejay Surrendra Park Hotels Limited (The "Company" or the "Issuer") for cash at a price of Rs. 155^^ per equity share (including a share premium of Rs. 154 per equity share) aggregating to
Rs. 920.00 crores (the "Offer"), comprising a fresh issue of 38,740,191* equity shares aggregating to Rs. 600.00 crores by the company (the "Fresh Issue") and an offer for sale of 20,645,160* equity shares aggregating to
Rs. 320.00 crores, comprising 19,096,774* equity shares aggregating to
Rs. 296.00 crores by Apeejay Private Limited (the "Promoter Group Selling Shareholder"), 1,483,870* equity shares aggregating to Rs. 23.00 crores by Recp IV Park Hotel Investors Ltd and 64,516* equity shares aggregating to
Rs. 1.00 crores by Recp IV Park Hotel Co-Investors Ltd (together referred to as the "Investor Selling Shareholders" and together with the promoter group selling shareholder, referred to as the "Selling Shareholders" and such equity shares offered by the selling shareholders, the "Offered Shares") ("Offer for Sale").
The offer included a reservation of 675,675* equity shares, aggregating to
Rs. 10.00 crores (constituting 0.32%* of the post offer paid-up equity share capital of the company for subscription by eligible employees (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constitute 27.83%* and 27.51%*, respectively, of the post-offer paid-up equity share capital of the company. The company, in consultation with book running lead managers ("brlms"), offered a discount of 4.52% (equivalent to Rs. 7 per equity share) of the offer price to ligible employees bidding in the employee reservation portion ("Employee Discount").
The face value of the equity share is Re. 1. The offer price is 155 times the face value of the equity shares.