Apeejay Surrendra Park Hotels Limited — Others, 15-05-2025: Monitoring Agency Report

Apeejay Surrendra Park Hotels has announced that CARE Ratings’ Monitoring Agency Report confirms Rs. 600 crore IPO proceeds were used as planned. Rs. 550 crore was fully utilized for repayment of borrowings. Of Rs. 16.23 crore allocated for general corporate purposes, Rs. 5.82 crore was spent this quarter on routine expenses like vendor payments and salaries. There were no deviations or delays in fund usage, and unutilized amounts remain idle without investment. This demonstrates disciplined capital allocation supporting financial stability.