New Delhi: Hotel company APJ Surendra Park Hotels has received approval from SEBI for its initial public offering (IPO) of an estimated Rs 1,000 crore.
The company may launch an IPO of Rs 1,000 crore. According to merchant banking sources, the company will offer new shares worth Rs 400 crore and promoters worth Rs 600 crore for sale under the IPO.
According to the latest information from the Securities and Exchange Board of India (SEBI), it gave its final comment on March 9. This comment of SEBI is considered acceptance. The funds raised through the company’s IPO will be used to pay off some debt and for normal company operations.