Apeejay Surrendra Park Hotels rises on inking pact to acquire 90% stake in Zillion Hotels and Resorts
Apeejay Surrendra Park Hotels is currently trading at Rs. 152.30, up by 0.25 points or 0.16% from its previous closing of Rs. 152.05 on the BSE.
The scrip opened at Rs. 151.20 and has touched a high and low of Rs. 153.05 and Rs. 151.20 respectively. So far 8548 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. 160.70 and Rs. 150.50 respectively. The current market cap of the company is Rs. 3227.29 crore.
The promoters holding in the company stood at 68.14%, while Institutions and Non-Institutions held 14.60% and 17.25% respectively.
Apeejay Surrendra Park Hotels has entered into Share Purchase Agreement for acquisition of 90% (with an option to acquire balance 10% shareholding subsequently, based on certain events) stake of Zillion Hotels and Resorts (the target entity) 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. The acquisition of 90% shareholding in the target entity is expected to be completed over an indicative period of about 18-20 months. Cost of acquisition is Rs 206.55 crore.
Zillion Hotels and Resorts is in the business of owning and operating the Z Luxury Residences, including 62 service residences and food & beverage facilities.
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'.
