Park Hotels’ Rs.920-Cr IPO subscribed 60 times

The initial share sale of Kolkata-headquartered Apeejay Surrendra Park Hotels , which runs hotels under the 'The Park' brand, was subscribed 59.66 times. The INR 920 crore IPO received bids for 2,07,38,23,392 shares against 3,47,61,903 shares on offer.The quota for Qualified Institutional Buyers (QIBs) garnered 75.14 times subscription while the portion for non-institutional investors subscribed 52.41 times. The category for retail individual investors (RIIs) received 30.35 times the subscription.The IPO was a fresh issue of INR 600 crore and an offer for sale of INR 320 crore. The issue had a price range of INR 147-155 a share. The company had attracted INR 409.5 crore from anchor investors.Proceeds from the fresh issue would be used towards payment of debt and for general corporate purposes.JM Financial, Axis Capital and ICICI Securities were the managers to the IPO.