Shares of Apeejay Surrendra Park Hotels will be listed at the bourses today at an issue price of ₹155. The ₹920-crore IPO - a fresh issue of ₹600 crore and offer-for-sale shares of ₹320 crore - was subscribed nearly 60 times.

The IPO received a strong response from all categories of investors, with qualified institutions being the most aggressive at 75.14 times; the non-institutional portion was subscribed 52.41 times, the retail investor portion 30.35 times, and the portion for employees by 5.42 times.

As part of the IPO, Apeejay Surrendra Park Hotels raised ₹409.50 crore from anchor investors, including Troo Capital, Carnelian Capital, Julius Baer India, Citigroup Global, Integrated Core Strategies and Societe Generale.

Domestic investors such as Nippon Life India, ICICI Prudential Mutual Fund, 360 One Special Opportunities Fund, HDFC Life Insurance Company, Quant Mutual Fund, Whiteoak Capital, Mirae Asset, Bandhan Mutual Fund, Edelweiss Trusteeship, Kotak Mahindra Life Insurance Company, Bajaj Allianz Life Insurance and SBI General Insurance also took part in the anchor book.

The company plans to use ₹550 crore to repay loans and the remaining funds will be used for general corporate purposes.

ICICI Securities, JM Financialand Axis Capital are the book-running lead managers of the Apeejay Surrendra Park IPO, while Link Intime India is the registrar for the issue.

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