Apeejay Surrendra Park Hotels gains on planning to acquire 90% stake in Zillion Hotels and Resorts
Apeejay Surrendra Park Hotels is currently trading at Rs 156.40, up by 1.90 points or 1.23% from its previous closing of Rs 154.50 on the BSE.
The scrip opened at Rs 154.55 and has touched a high and low of Rs 157.00 and Rs 152.90 respectively. So far 24691 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 1 has touched a 52-week high of Rs 208.40 on 03-Jan-2025 and a 52-week low of Rs 128.75 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs 157.00 and Rs 148.50 respectively. The current market cap of the company is Rs 3316.90 crore.
The promoters holding in the company stood at 68.14%, while Institutions and Non-Institutions held 15.52% and 16.34% respectively.
Apeejay Surrendra Park Hotels has entered into binding Memorandum of Understanding (MoU) for acquisition of 90% stake of Zillion Hotels and Resorts from its existing shareholders (namely Handa Family Shareholders and Nair Family Shareholders). Consequent to the aforesaid acquisition, Zillion Hotels and Resorts will become a subsidiary of the Company. Cost of acquisition is up to Rs 209.25 crore.
Apeejay Surrendra Park Hotels is engaged in the hospitality business operating under the brand names of 'THE PARK', 'THE PARK Collection', 'Zone by The Park', 'Zone Connect by The Park' and 'Stop by Zone'.
