SAMHI Hotels IPO day 1; check live subscription details here

14 Sep 2023 , 12:16 PM

The initial public offering (IPO) of Samhi Hotels Limited is now open for subscription and will continue to accept bids until September 18, 2023. To participate in the IPO, you can click here.

As of the first day of the IPO, by 12:15 PM, Samhi Hotels received bids for 21,10,227 equity shares out of the total 6,25,29,831 shares available for subscription. The retail portion of the IPO garnered bids amounting to 0.17 times the shares on offer, while non-institutional investors’ bids reached 0.01 times. Overall, the IPO received a subscription rate of 0.03 times.

Before the IPO officially opened, the company successfully raised Rs 616.5 crore from anchor investors, indicating strong investor interest.

The objective of the IPO is to raise Rs 1,370.1 crore. The selling shareholders in the Offer for Sale (OFS) include Singapore-based Blue Chandra Pte Ltd (owned by Equity International Fund V), Goldman Sachs Investments Holdings (Asia), and GTI Capital Alpha. Additionally, Samhi Hotels has already secured Rs 616.54 crore from anchor investors.

Samhi Hotels Limited specializes in acquiring or constructing primary hotels and subsequently renovating and rebranding these properties. The company’s portfolio primarily consists of hotels in the upper upscale, upscale, upper mid-scale, and mid-scale hotel segments. These hotels typically operate under long-term management contracts with well-established and globally recognized hotel operators.