Surrendra Park Hotels-owned Flurys files papers for Rs 1000-crore IPO

Apeejay Surrendra Park Hotels, which owns the famous bakery brand Flurys, on Wednesday filed its draft red herring prospectus  (DRHP) for a Rs 1,000-crore initial public offering (IPO).  The company filed its DRHP with the Securities and Exchange Board of India (Sebi). 

The IPO comprises Rs 400 crore of fresh issuance of shares, along with an offer for sale worth Rs 600 crore. The company is planning to use the proceeds of the fresh issue to repay its burrowings.

Apeejay Surendra Park Hotels owns luxury boutique hotels in India under “The Park” brand. At present, it owns and operates 22