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<ul><li>The stock listed at ₹203 as compared to its issue price of ₹155 per share.</li><li>The grey market was expecting 23% listing gains from the stock.</li><li>Its market capitalisation is at ₹4,341 crore, as per Bombay Stock Exchange. </li></ul>Hotel chain <keyword id="20399039" type="General" weightage="20" keywordseo="apeejay-surrendra-park-hotels" source="keywords">Apeejay Surrendra Park Hotels</keyword> debuted on Dalal Street at a 20.6% premium on Monday. It gained during the day and closed 31% ahead of its issue price. The grey market was expecting 23% listing gains from the stock. The stock closed at ₹203 as compared to its issue price of ₹155 per share. Its market capitalization is at ₹4,341 crore, as per Bombay Stock Exchange. “We believe the healthy listing is justified on the back of reasonable valuations to peers; and government push towards the hospitality and tourism industry. Its primary objective of reducing debt could lighten interest burden which can improve the bottom lines in coming years,” said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, senior VP of research at Mehta Equities. He recommends allotted investors to ‘hold’ the stock with a long-term perspective. The ₹920 crore public issue was subscribed 63 times over the shares on offer. Ahead of the IPO, it raised ₹409.5 crore from anchor investors including Societe Generale, Troo Capital, Julius Baer India, Citigroup Global, Integrated Core Strategies and more. While the listing performance of 2024’s market debuts have been mixed, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EPACK Durable </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jyoti CNC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Innova Captab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody><tbody></tbody></table> The ₹920 crore issue had a fresh issue of ₹600 crore, and an Offer-for-Sale aggregated to ₹320 crore by selling shareholders. The company proposes to utilize net proceeds from fresh issue towards repayment and or prepayment, in full or in part of certain outstanding borrowings availed by company and balance amount towards general corporate purposes. Apeejay Surrendra <keyword id="20251896" type="General" weightage="20" keywordseo="park" source="keywords">Park</keyword> Hotels is the eighth largest in India in terms of chain affiliated hotel rooms inventory as of September 30, 2023. They operate hospitality assets under their own brands like The Park, The Park Collection, ‘Zone by The Park’, ‘Zone Connect by The Park’ and ‘Stop by Zone’. It develops upscale luxury boutiques as well as upper mid-scale hotels. They operate 30 hotels in 20 cities across India. The hotels are operated through direct ownership, long-term leases, operation and management agreements on a contractual basis using their brand on hotels constructed by third parties. “The company possesses a varied portfolio of hotels across India, including owned, leased, and managed properties strategically situated in both major metropolitan areas and emerging cities,” said an IPO note by <keyword id="20548750" type="General" weightage="20" keywordseo="anand-rathi" source="keywords">Anand Rathi</keyword>. They own over 1,300 rooms constituting 2.8% of the total inventory of hotel rooms owned by chained affiliated hotels across the country. The company was established over 55 years ago, with their first hotel The Park at the iconic Park Street in Kolkata. “The organization has established thriving hospitality brands by combining product innovation and exceptional service, aiming to engage customers with a varied and comprehensive range of offerings. We believe that the valuation of the company is fairly priced and recommend a ‘Subscribe-Long Term’ rating to the IPO,” said Anand Rathi.

Apeejay Surrendra Park Hotels closes 31% above its issue price on debut

<ul><li><keyword id="20439092" type="General" weightage="20" keywordseo="apeejay-surrendra-park" source="keywords">Apeejay Surrendra Park</keyword> is expected to announce its share allotment status on Thursday, February 8.</li><li>The shares of Apeejay Surrendra Park were subscribed 59.66 times.</li><li>The shares are expected to be listed on the stock exchanges on February 12.</li></ul> Kolkata-based Apeejay Surrendra Park, which is engaged in the hospitality business and runs hotels under its “The Park” brand is expected to announce the allotment status of its initial public offering (<keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword>) on Thursday, February 8. The Apeejay Surrendra Park IPO opened on February 5 and closed on February 7. The price band for the IPO was ₹147 to ₹155 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Apeejay Surrendra Park IPO was subscribed 59.66 times, receiving bids for 207.38 crore equity shares against 3.48 crore shares on offer. While the qualified institutional buyer portion was subscribed 75.14 times, the non-institutional investors portion was subscribed 52.41.80 times. The retail portion also witnessed excellent participation and was subscribed 30.31 times. The employee portion was subscribed 5.42 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Apeejay Surrendra Park are currently commanding a grey market premium (GMP) of ₹35 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="20507206" type="General" weightage="100" keywordseo="Apeejay-Surrendra-Park-IPO-allotment" source="Orion">Apeejay Surrendra Park IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘Apeejay Surrendra Park’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Now, enter the captcha. </li><li>Click on submit. </li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Apeejay Surrendra Park <keyword id="35223" type="General" weightage="20" keywordseo="IPO-allotment" source="Orion">IPO allotment</keyword> status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Apeejay Surrendra Park’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Apeejay Surrendra Park IPO listing date" comment="subhead" text="Apeejay Surrendra Park IPO listing date">Apeejay Surrendra Park IPO listing date</cmsannotation> The shares of Apeejay Surrendra Park will be listed on the stock exchanges on February 12. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/retro-turned-electric-after-chetak-kinetic-luna-also-gets-a-new-lease-of-life/slidelist/107523076.cms">Retro turned electric – After Chetak, Kinetic Luna also gets a new lease of life</a> <a href="https://www.businessinsider.in/tech/news/affordability-propels-indian-smartwatch-shipments-to-rise-by-50-in-2023/articleshow/107517214.cms">Affordability propels Indian smartwatch shipments to rise by 50% in 2023</a> <a href="https://www.businessinsider.in/stock-market/webstories/tcs-crosses-15-lakh-crore-market-cap-a-look-at-indias-biggest-companies/slidelist/107478912.cms">TCS crosses ₹15 lakh crore market cap – A look at India’s biggest companies</a>

Apeejay Surrendra Park IPO allotment – How to check allotment, GMP, listing date and more

<ul><li>The stock closed at ₹442 as compared to its issue price of ₹151 per share.</li><li>The market capitalization of the company is at ₹838 crore, as per Bombay Stock Exchange.</li><li>The grey market was expecting 86% listing gains, and the issue was subscribed 320x. </li></ul>Shares of <keyword id="20491580" type="General" weightage="20" keywordseo="vibhor-steel-tubes" source="keywords">Vibhor Steel Tubes</keyword> debuted on Dalal Street with 192% listing gains on Tuesday. The stock closed at ₹442 as compared to its issue price of ₹151 per share. The market capitalization of the company is at ₹838 crore, as per BSE. The grey market was expecting 86% listing gains from the stock. Analysts also believed that its price band has left enough room for good listing gains due to valuation gap with listed peers. The ₹72.17 crore issue was subscribed 320 times the shares on offer, with bumper applications from retail as well as institutional investors. It raised ₹21.5 crore from three anchor investors like Saint Capital Fund, Chhatisgarh Investments and Neomile Growth Fund - Series I; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. The last three listings, however, gave tepid listing gains, with small finance banks seeing share prices falling below their issue prices. However, the tranche before that saw good listing gains. <keyword id="20606345" type="General" weightage="20" keywordseo="apeejay-surrendra-parks" source="keywords">Apeejay Surrendra Parks</keyword>, BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have given positive returns to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Entero Healthcare </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rashi Peripherals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jana Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apeejay Surrendra Parks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr></tbody><tbody></tbody></table> The Haryana-based manufacturer of high-quality steel tubes and pipes’ IPO is a completely fresh issue. It intends to use it to fund its working capital requirements. The company operates two manufacturing facilities and one warehouse with a total capacity of 2,23,160 million tonne per annum in Maharashtra, Telangana and Haryana. It <keyword id="20653746" type="General" weightage="20" keywordseo="ssupplies" source="keywords">sSupplies</keyword> its products to western and southern market companies in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka and <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword>. The company has plans to expand its operations by setting up a manufacturing unit with a capacity of 1,20,000 MTPA in Orissa and expanding the current unit’s capacity in Telangana from 96,000 MTPA to 1,52,000 MTPA. VSTL has also entered into an agreement with Jindal Pipes Limited in April 2023. As part of the agreement, the company manufactures and supplies finished goods worth 1,00,000 MTPA to Jindal Pipes, which sells the products under the brand name Jindal Star. “The key strength of the company comes from the association with Jindal Pipes. Its capacity expansion gives long term visibility in terms of long term,” said Rajan Shinde, research analyst, Mehta Equities who gave it a ‘subscribe’ rating to the issue.

Stellar debut: Vibhor Steel Tubes share price almost doubles on listing

<ul><li>The stock made a tepid debut as it listed at ₹1,146 as compared to its issue price of ₹1,258.</li><li>The company’s marketcap is at ₹4,999, according to <keyword id="19911480" type="General" weightage="20" keywordseo="bombay-stock-exchange" source="keywords">Bombay Stock Exchange</keyword>.</li></ul>The stock of <keyword id="20552593" type="General" weightage="20" keywordseo="entero-healthcare-solutions" source="keywords">Entero Healthcare Solutions</keyword> fell 8.6% below its issue price, as it debuted on the exchanges on Friday. The stock closed at ₹1,149 as compared to its issue price of ₹1,258. Its marketcap is at ₹4,999 crore, according to Bombay Stock Exchange. The grey market surprisingly has made no predictions either of listing gains or losses on the company’s debut. The ₹1,600 crore issue was subscribed 1.53 times over the shares on offer. The company had mobilized ₹716 crore from anchor investors like Bajaj Allianz Life Insurance, <keyword id="20155245" type="General" weightage="20" keywordseo="sbi-general-insurance" source="keywords">SBI General Insurance</keyword> and others; ahead of opening the issue for the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. The last three listings however gave tepid listing gains, with small finance banks falling below the issue price. However, the tranche before that saw good listing gains. <keyword id="20606345" type="General" weightage="20" keywordseo="apeejay-surrendra-parks" source="keywords">Apeejay Surrendra Parks</keyword>, BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have given good returns to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rashi Peripherals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jana Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apeejay Surrendra Parks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The issue is a combination of fresh issues and an offer for sale. The fresh issue of shares is worth ₹1,000 crore. It intends to use the net proceeds from the fresh issue towards re-payment and or prepayment, in full or part, of borrowings availed of the company and subsidiaries. It will also be used to fund its long term working capital requirements, and pursue inorganic growth initiatives through acquisitions; apart from general corporate purposes. Entero Healthcare Solutions, which was incorporated in 2018 is a distributor of healthcare products in India. It uses a technology-driven platform to facilitate distribution of healthcare products to hospitals, clinics and pharmacies across the country. The company has relations with over 1,900 healthcare manufacturers across the country and caters to 3,400 hospitals and 81,400 pharmacies in 495 districts in the country as on March 31, 2023. The company has 77 distribution warehouses across 38 cities.

Entero Healthcare Solutions slips below issue price on debut day

Kolkata, Feb 25 () Apeejay Surrendra Park Hotels,which runs that Park hospitality chain across the country,would mostly use the proceeds of its proposed initial publicoffer (IPO) to retire debt, an official said on Tuesday.Apeejay Surrendra has already filed the DRHP with thecapital market regulator SEBI which is expected to give itsapproval in March."The proceeds of the IPO will be used largely toretire debt and for meeting other regular operating expenses,"Vijay Dewan, MD of Apeejay Surrendra Park Hotels, toldreporters on the sidelines of a CII event here.He said the debt of the company is around Rs 450crore. "We are expecting the SEBI approval by March", he said.The DRHP was filed during December end, he said.On new properties, Dewan said the company is settingup a 200-room hotel in Pune for which construction has alreadystarted.The Pune hotel will cost around Rs 160 crore and willbe under the Park brand.Apeejay will also add 100 rooms at Vizag and another80 rooms in Navi Mumbai.Dewan said the company will gradually move towardsmanaging properties rather than owning them.The company has also taken over the Danish Tavern atSrirampur from the West Bengal government, he said. dcNN NN

''Apeejay Surrendra Park Hotels IPO float to retire debt''

New Delhi, Mar 16 () Apeejay Surrendra Park Hotels has got regulatory go-ahead for its estimated Rs 1,000 crore initial public offer (IPO). The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore, according to merchant banking sources. As per the latest update from the Securities and Exchange Board of India (Sebi), the regulator issued its final observation letter on March 9 for the public offer. This paves the way for the launch of the public offer. The amount to be raised through OFS comprises up to Rs 125.4 crore by promoter selling shareholder, up to Rs 354.9 crore by Apeejay Pvt Ltd, up to Rs 84.7 crore by Apeejay House Pvt Ltd and Rs 34.9 crore by investor selling shareholders, according to the draft red herring prospectus (DRHP). The company proposes to utilise the net proceeds towards repayment/prepayment of certain borrowings availed and for general corporate purposes. The book running lead managers to the offer are ICICI Securities, Axis Capital and JM Financial. The shares of the company are proposed to be listed on the BSE and NSE. The company has presence in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR as well as in other major cities such as Coimbatore, Jaipur, Jodhpur, Jammu, Navi Mumbai, Raipur and Visakhapatnam, the DRHP stated. The hospitality company has pioneered the concept of luxury boutique hotel in India under "THE PARK" brand. The company is part of the Apeejay Surrendra group, a leading Indian conglomerate. The group's business is spread across industries such as hospitality, shipping, tea, real estate, retail brands such as Oxford bookstores, and education. "The proceeds of the IPO will be used largely to retire debt and for meeting other regular operating expenses," Apeejay Surrendra Park Hotels MD Vijay Dewan had told reporters in Kolkata on the sidelines of an event last month. He had said the debt of the company is around Rs 450 crore. On new properties, Dewan said the company is setting up a 200-room hotel in Pune for which construction has already started. The Pune hotel will cost around Rs 160 crore and will be under the Park brand. Apeejay will also add 100 rooms at Vizag and another 80 rooms in Navi Mumbai. Dewan said the company will gradually move towards managing properties rather than owning them. The company has also taken over the Danish Tavern at Srirampur from the West Bengal government, he said. BJ RVK

Park Hotels gets regulatory go-ahead for IPO

The domestic hospitality industry is gearing up to make the most of full-fledged <keyword id="8206" type="General" weightage="20" keywordseo="christmas" source="Orion">Christmas</keyword> and <keyword id="6389817" type="General" weightage="100" keywordseo="new-year" source="Orion">New Year</keyword> celebrations this time around after two years of washout by the pandemic, with rooms at many hotels and resorts already sold out. As people seek to make up for the winter holidays lost to COVID-19, destinations like Karjat, Lonavala, Vizag, Dharamshala, <keyword id="42774" type="General" weightage="80" keywordseo="udaipur" source="Orion">Udaipur</keyword>, <keyword id="6363190" type="General" weightage="80" keywordseo="manali" source="Orion">Manali</keyword> and Gir are witnessing good demand, apart from traditional popular places like <keyword id="826" type="General" weightage="80" keywordseo="goa" source="Orion">Goa</keyword>, Kerala and Shimla. "The year-end festive season looks very positive and this year appears to be one of the best years so far for the hospitality sector," Apeejay Surrendra Park Hotels Ltd Managing Director, Vijay Dewan told PTI in an e-mailed response. He further said, "All our hotels are gearing up for sold out spaces along with high occupancy in rooms. This year we have lined up some great events during Christmas and New Year's which the guests missed out during the last 2 years due to the pandemic." Mahindra Holidays &amp; Resorts India Ltd (MHRIL) Managing Director and CEO Kavinder Singh, "If you really look at it this year, this Christmas and New Year will be the first proper Christmas-New Year after 2020...if I were to look at December occupancy, in some of our resorts we have no space for even a single room available in December because people have all booked up." Even in 2021, he said the Christmas and New Year celebrations were marred after the outbreak of the Omicron variant of the COVID-19, which continued beyond January. Now, Singh said, people are going to Coorg, Gir, Shimla, Manali beyond the usual destinations like Goa, while some are even travelling abroad to places like Singapore and Dubai. There is a very high level of occupancy in the southern side, he said, adding in the western region locations like Alibaugh and Lonavala are already full. "It's a very, very big momentum now in December and January, aided by the holiday season, and years of not being able to spend time in this period of the year with your loved ones, and that is really aiding the momentum in December and January," Singh said. On the kind of demand coming from travellers, Hotel Association of India Vice President K B Kachru said, "We are finding dates getting sold out months in advance and lots of enthusiasm for innovative and creative offers that showcase the locale that the hotel is in, including its culture and cuisine given our unique and authentic culinary specialties across the country through our culinary ambassadors." Kachru, who is also Chairman Emeritus and Principal Advisor, South Asia, Radisson Hotel Group, further said there is an uptick in demand for the upcoming wedding season as well. "Our hotels across key leisure destinations, including Karjat, Lonavala, Vizag, Goa, Dharamshala, and Udaipur are geared up for welcoming guests," he added. InterGlobe Hotels Head - Asset Management, Manoj Agarwal said, "We expect a healthy and robust room demand during the festive season for our leisure destinations. The ongoing travel patterns and trends have had a positive impact on the hospitality industry, and we are quite optimistic with our portfolio performance already surpassing our pre-COVID numbers." Similarly, an OYO spokesperson said, "Based on advanced bookings for the upcoming holiday season between December 25-31, we are witnessing a 44 per cent rise in booking demand, led by leisure cities such as Goa, Hyderabad, Puri, Manali and Kolkata. Business travel is also showing strong signs of revival."

Hotel, resorts sold out as demand soars for first full Christmas-New Year party after two years

New Delhi, Jan 1 () Apeejay Surrendra Park Hotels has filed draft papers with markets regulator Sebi for its proposed initial public offering to raise up to Rs 1,000 crore.
The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore.
The amount to be raised through OFS comprises up to Rs 125.4 crore by promoter selling shareholder, up to Rs 354.9 crore by Apeejay Pvt Ltd, up to Rs 84.7 crore by Apeejay House Pvt Ltd and Rs 34.9 crore by investor selling shareholders, according to the draft red herring prospectus (DRHP).
The company proposes to utilise the net proceeds towards repayment/prepayment of certain borrowings availed and for general corporate purposes.
 The book running lead managers to the offer are ICICI Securities, Axis Capital and JM Financial.
 The shares of the company are proposed to be listed on the BSE and NSE.
 The company has presence in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR as well as in other major cities such as Coimbatore, Jaipur, Jodhpur, Jammu, Navi Mumbai, Raipur and Visakhapatnam, the DRHP stated.
 The hospitality company has pioneered the concept of luxury boutique hotel in India under "THE PARK" brand.
 The company is part of the Apeejay Surrendra group, a leading Indian conglomerate. 
 The group's business is spread across industries such as hospitality, shipping, tea, real estate, retail brands such as Oxford bookstores, and education. 
 SUM ANU
ANU
ANU

The Park Hotels files draft papers with Sebi for Rs 1,000 cr IPO

New Delhi, Jan 1 () Apeejay Surrendra Park Hotels has filed draft papers with markets regulator Sebi for its proposed initial public offering to raise up to Rs 1,000 crore.
The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore.
The amount to be raised through OFS comprises up to Rs 125.4 crore by promoter selling shareholder, up to Rs 354.9 crore by Apeejay Pvt Ltd, up to Rs 84.7 crore by Apeejay House Pvt Ltd and Rs 34.9 crore by investor selling shareholders, according to the draft red herring prospectus (DRHP).
The company proposes to utilise the net proceeds towards repayment/prepayment of certain borrowings availed and for general corporate purposes.
 The book running lead managers to the offer are ICICI Securities, Axis Capital and JM Financial.
 The shares of the company are proposed to be listed on the BSE and NSE.
 The company has presence in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR as well as in other major cities such as Coimbatore, Jaipur, Jodhpur, Jammu, Navi Mumbai, Raipur and Visakhapatnam, the DRHP stated.
 The hospitality company has pioneered the concept of luxury boutique hotel in India under "THE PARK" brand.
 The company is part of the Apeejay Surrendra group, a leading Indian conglomerate. 
 The group's business is spread across industries such as hospitality, shipping, tea, real estate, retail brands such as Oxford bookstores, and education. 
 SUM ANU
ANU

Park Hotels files draft papers with Sebi for Rs 1,000 cr IPO

<ul><li>The stock closed at ₹434 as compared to its issue price of ₹468 per share.</li><li>Its market capitalization is at ₹1,959 crore, according to <keyword id="19911480" type="General" weightage="20" keywordseo="bombay-stock-exchange" source="keywords">Bombay Stock Exchange</keyword>. </li></ul><keyword id="20209228" type="General" weightage="20" keywordseo="capital-small-finance-bank" source="keywords">Capital Small Finance Bank</keyword>’s stock slipped 7% on its debut on Wednesday. The stock closed at ₹434 as compared to its issue price of ₹468. Its market capitalisation is at ₹1,959 crore, according to Bombay Stock Exchange. The ₹520 crore issue was subscribed four times over the shares on offer. It raised ₹157 crore from anchor investors like Nippon Life India, Edelweiss Tokio Life Insurance, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, <keyword id="19972599" type="General" weightage="20" keywordseo="sbi-general-insurance-company" source="keywords">SBI General Insurance Company</keyword> and more; ahead of opening the issue to the public. Surprisingly, there were no indications from the grey market on this small finance bank’s listing gains. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. However, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apeejay Surrendra Parks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EPACK Durable </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jyoti CNC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Innova Captab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The small finance bank has fixed the price band of the public issue at ₹445-468 per share. The issue is a combination of fresh issue of shares, and an offer for sale. Net proceeds from the fresh issue which amounts to ₹450 crore will be used to augment its tier-I capital base. The Jalandhar based small finance bank was incorporated in 1999. With a range of banking products on the asset and liability side, it operates Punjab, Haryana, Delhi, Rajasthan, Himachal Pradesh and Union Territory of Chandigarh. “Our asset products primarily include agriculture loans, MSME and trading loans and mortgages. We focus primarily on the middle-income customer segments,” it said in its DRHP. As of September 30, 2023, its gross advances stood at ₹5,865 crore, while total deposits were at ₹7,000 crore. Its gross non-performing assets (NPAs) stood at 1.36%, while its net interest margin was at 4.04%. “Capital Small Finance Bank is a retail focused liability franchise with a high share of CASA. Their credit assessment processes, and risk management practices enable them to maintain good asset quality and low delinquencies. They have gained an understanding of their market and customer base over the years,” said an IPO note by <keyword id="20548750" type="General" weightage="20" keywordseo="anand-rathi" source="keywords">Anand Rathi</keyword>, which gives it a ‘subscribe-long term’ rating.

Capital Small Finance Bank closes 7% below issue price on market debut

<ul><li>The stock closed at ₹320 on Wednesday as compared to listing price of ₹311.</li><li>The company’s market cap is at ₹2,207 crore as per Bombay Stock Exchange.</li><li>The grey market was expecting 19% listing gains from the stock. </li></ul>Hardware distribution major <keyword id="20436645" type="General" weightage="20" keywordseo="rashi-peripherals" source="keywords">Rashi Peripherals</keyword> debuted on the bourses with a 7.7% premium on early Wednesday. But it pared some of its gains during the day, to close 3% ahead of its issue price. The stock closed at ₹320 as compared to its listing price of ₹311. The company’s market cap is at ₹2,207 crore as per Bombay Stock Exchange. It disappointed the grey market which was expecting 19% listing gains from the stock. The ₹600 crore issue was subscribed 62 times the shares on offer. It raised ₹180 crore from anchor investors like ICICI Prudential, Aditya Birla Sun Life Insurance, SBI General Insurance and more; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. However, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apeejay Surrendra Parks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EPACK Durable </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jyoti CNC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Innova Captab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Its initial public offer is entirely a fresh issue, using which it intends to pay off loans, towards working capital and general corporate purposes. The Mumbai-based company distributes over 10,500 types of tech products. It has branches in 50 cities that operate as sales and service centres and warehouses. They cover 680 locations across 28 states and union territories in India through an ecosystem of 8,407 customers, as of September 30, 2023. It’s also the distribution partner of 52 global brands including Dell, Asus, HP, Logitech and more. With a wide footprint as well as a wide product range, <keyword id="20472594" type="General" weightage="20" keywordseo="rashi" source="keywords">Rashi</keyword> has been able to garner a chunky market share as a pan-India distributor of technology products. It has over 45% market share in processors, graphics cards and pen drives; over 20% market share in routers (33%), hard drivers, keyboards and mice, monitors; and over 10% share in UPS, laptops, desktops and switches. Its revenue from operations grew by 57% in FY23, and profit by 35%. But it raked up debt to the tune of ₹1,275 crore, as of September 2022, including unsecured loans to the tune of ₹19 crore from promoters and members of promoter group and others. The <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> proceeds can help cushion some of it, believe analysts. “Utilization of IPO proceeds would lower the financial liabilities, whereas availability of working capital would boost the business expansion capabilities in the medium-term,” says <keyword id="20287834" type="General" weightage="20" keywordseo="choice-broking" source="keywords">Choice Broking</keyword>.

Rashi Peripherals closes 3% ahead of issue price on debut day

New Delhi, Apr 8 () Leading hospitality firms ITC Hotels, Radisson Hotel Group and Apeejay Surrendra Park Hotels are taking a slew of initiatives to serve healthcare providers and community at large in times of the coronavirus outbreak in the country. Leveraging its rich expertise in food and hospitality services, the key initiative of ITC Hotels has been food distribution across cities based on the requirements of the local administration as well as hospitals, the company said in a statement. While in New Delhi, ITC Maurya and Sheraton have been providing over 1,500 meals daily for distribution to migrant workers; in Bengaluru, ITC Gardenia is lending its support with 1,000 food packets daily for 15 days (15,000 meals) to Municipal Corporation, ITC Hotels said. In Mumbai, ITC Grand Central has made arrangements to deliver meals to doctors in MG Hospital. Food has also been catered to doctors at the Kasturba Hospital in Mumbai by ITC Grand Central, it added. In Lucknow, Fortune Hotel is also lending assistance through the provision of more than 1,000 meals per day. This initiative will be progressively rolled out in other metros including Kolkata, Chennai and Hyderabad, ITC Hotels said. In addition to providing meals, ITC Hotel properties in Jaipur and Goa have provided shower caps for doctors and healthcare workers as well as ensuring availability of sanitisers, it added. "ITC Maratha, Mumbai was identified as one of the quarantine spaces by the Mumbai Municipal Corporation. ITC Hotels is also working closely with the local administration and embassies and offered similar space at ITC Grand Chola, Chennai and ITC Kohenur, Hyderabad, to enable stopover of asymptomatic international travellers as and when required," ITC Hotels said. ITC Hotels remains fully committed to serving national priorities during this unprecedented situation, the statement said. In similar vein, Radisson Hotel Group is also contributing in a number of ways to support the government and the community in the fight against COVID-19. "I am glad to mention that, along with our partners, we at Radisson Hotel Group, are collectively reaching out to nearly 20,000 beneficiaries per day with food and food supplies and have contributed Rs 1 crore so far to various state relief funds and Prime Minister's relief fund," Radisson Hotel Group South Asia MD and Vice-President (Operations) Zubin Saxena said. Radisson Hotel Group remains deeply committed to its communities and the country in the fight against COVID-19, he added. "At individual level, many of our hotels are also contributing to non-profit organisations. We also continue to routinely engage with industry, government and trade bodies to advocate for policy and relief measures for the industry at large," Saxena said. Hospitality firm Apeejay Surrendra Park Hotels Ltd (ASPHL) also said it is committed to working with communities and being responsive to their needs in the time of crisis. The Park Hotels has launched a initiative, #THEParkHeartofHope, to provide a helping hand to its guests and neighbours, the company said in a statement. The Park Bangalore, THE Park Chennai, THE Park Calangute Goa, THE Park Baga River Goa and THE Park Hyderabad are doing neighbourhood services for all their neighbours and especially for senior citizens, it added. "We have launched a neighbourhood service initiative, #THEParkHeartOfHope across our hotels, wherein anybody especially the senior citizens can call us for any help, be it groceries, medicines or food," Apeejay Surrendra Park Hotels Managing Director Vijay Dewan said. The team respond to the request immediately taking all safety precautions. "We are also providing free food every day to the underprivileged and community warriors," he added. AKT HRS

Hospitality firms launch slew of initiatives to help in times of COVID-19 pandemic

Bhubaneswar, Feb 14 () The Odisha government hasapproved projects in sectors like food processing, tourism andsteel worth over Rs 1,600 crore, which would likely generateemployment for 1,450 people, officials said.The investment proposals got the go-ahead at a StateLevel Single Window Clearance Authority (SLSWCA) meetingchaired by Chief Secretary A K Tripathy on Thursday, theysaid.The SLSWCA cleared eight planned projects, including atea blending and packaging facility of 36,000-metric tonannual capacity by Tata Global Beverages Ltd, and a 0.2-mmtpacoal-tar-pitch (CTP) distillation unit of Runaya Metsource.In the tourism sector, approvals were granted to theexpansion work of Apeejay Surrendra Park Hotels Ltd and KamatHotels (India) Ltd, officials said.Apeejay Logistics Park Ltd also received the greensignal for the expansion of its existing logistics park atKalinga Nagar.In a boost to Odisha's metal downstream sector, theproposal of Thriveni Earthmovers Pvt Ltd for setting up a 30-mtpa underground slurry pipe line was also approved by theSLSWCA, which entails a total investment of Rs 948.90 crore. AAMRBT RBT

Odisha govt approves over Rs 1,600-cr investment proposals

New Delhi, Feb 1 () The Finance Minister's focus to provide impetus to the travel and tourism sector along with development of transportation infrastructure will accelerate the sector's contribution towards country's economy, according to industry players.
 "Increased allocation of funds for the Ministry of Tourism and Ministry of Culture, development of financial roadmaps for tourist destinations and plans to assign specified grants for states will go a long way in accelerating the contribution of the sector towards India's economy," MakeMyTrip Co-founder and CEO-India Rajesh Magow said.
 Presenting the Budget for 2020-21, Finance Minister Nirmala Sitharaman on Saturday said Rs 3,150 crore has been allocated for the Ministry of Culture and Rs 2,500 crore for the Ministry of Tourism.
 "Additionally, development of five iconic archeological sites across Haryana, Uttar Pradesh, Assam, Gujarat and Tamil Nadu comes as a strategic step towards boosting domestic and inbound heritage tourism to these states," Magow said.
 According to Thomas Cook India Chairman and MD Madhavan Menon said, "... an Indian Institute of Heritage and Conservation will be set up with the status of a deemed university, and this is an imperative towards education and skill development of our sector that contributes a significant 10 per cent to India's GDP".
 The Union Budget intended to give impetus to the Travel and Tourism sector with the allocation of Rs 2,500 crore and equally critical allocation of Rs 1.7 lakh crore towards transportation infrastructure in 2020-21, he added.
 In similar vein, ITC Ltd Executive Director and Chairman-FAITH Nakul Anand said "the allocation to develop 100 new airports by 2024 and the soon to be introduced Tejas trains for iconic destinations are advancements in modern infrastructure that augur well for Indian tourism."
 InterGlobe Hotels President and CEO J B Singh said, "we are hoping that this budget will help in creating and developing new and iconic destinations, thereby redefining the tourism industry, for the better and further improve spending, domestic travel and all this will have great long term benefits for the economy".
 Stating that the vision of government to invest in the tourism sector will be a great push for the hospitality sector, Apeejay Surrendra Park Hotels MD Vijay Dewan said: "India's heritage and culture rich experiences have always attracted tourists to the country and government's plan to develop five archaeological sites at iconic sites with on-site museums will attract more tourists from India and globally."
 Sterling Holidays CMD Ramesh Ramanathan said: "We are pleased with the proposed budget, as it will play a pivotal role in the hospitality and domestic tourism sector, and will have a multiplier effect across the board."
 Travel Food Services COO and Business Head Gaurav Dewan said: "The government's focus on development is clear and reinforced with the allocation of additional funds to the Airport, Railway and the Highway sectors."
 This will boost business and leisure travel thereby generating employment, connectivity and overall economic development of catchment areas, he added.
 "The government's push for infrastructure development by building more airports and the announcement of new Tejas trains will boost tourism outside the main centers. This, in turn, will have a positive impact on the hotel sector," Cygnett Hotels and Resorts Founder and MD Sarbendra Sarkar said.
 It is heartening to see a budget that focuses on improving standards of living as well as economic development, OYO, India South Asia CEO Rohit Kapoor said. AKT DRR

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