Apeejay Surrendra Park Hotels IPO listing date out. GMP signals strong debut of shares

“Trading Members of the Exchange are hereby informed that effective from Monday, February 12, 2024, the equity shares of Apeejay Surrendra Park Hotels Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” BSE notice says.

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Meanwhile, after the announcement of Apeejay Surrendra Park Hotels IPO listing date, the grey market has gone slightly bullish on the public issue of the hospitality company.

According to stock market observers, Apeejay Surrendra Park Hotels shares are available at a premium of ₹38 in the grey market today.

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Apeejay Surrendra Park Hotels IPO GMP today

Market observers said that Apeejay Surrendra Park Hotels IPO grey market premium (GMP) today is ₹38, which is ₹3 higher than its grey market premium on the last date of Apeejay Surrendra Park Hotels IPO date. They said that Apeejay Surrendra Park Hotels IPO allotment status has been declared and on Friday, Apeejay Surrendra Park Hotels IPO GMP climbed to the peak of ₹45 also. They said that the rise in grey market sentiment can be attributed to the trend reversal on Dalal Street and the strong response given by the investors to the public issue.

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Apeejay Surrendra Park Hotels IPO listing price

Stock market observers went on to add that Apeejay Surrendra Park Hotels IPO GMP today is ₹38, which means the grey market is expecting that Apeejay Surrendra Park Hotels IPO listing price would be around ₹193 ( ₹155 + ₹38), which is around 25 percent higher from the Apeejay Surrendra Park Hotels IPO price band of ₹147 to ₹155 per equity share.

However, stock market observers maintained that GMP is not an ideal indicator of any IPO listing price or listing premium. They said that the grey market is completely speculative and has nothing to do with the financials of the company. They advised allottees to stick with the basics and scan the balance sheet of the company as it would give a concrete picture of the company’s financials.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 10 Feb 2024, 01:50 PM IST