SAMHI Hotel re-files DRHP to raise funds via IPO

3 Apr 2023 , 08:47 AM

The Goldman Sachs- and Equity International-backed company SAMHI hotels filed revised Draft IPO papers with the markets regulator SEBI, Moneycontrol reported.

The company operates top global players like Marriott, Hyatt and IHG in India is founded by Ashish Jakhanwala and Manav Thadani in 2010, filed for an IPO in September 2019 but later dropped the plans due to market conditions and the impact of the Covid-19 pandemic.

According to the re-filed DRHP, the company is planning to raise Rs 1000 crore from fresh issue and an offer for sale of up to 9,00,00,000 equity shares with all the key investors looking to dilute stake.

The company will use net proceeds from the IPO towards the repayment of debt of the firm and its subsidiaries, payment of interest and other general corporate purposes.

As per DRHP, currently SAMHI hotel is the third largest inventory of operational keys (owned and leased) in India as of February 28, 2023. The company has a portfolio of 3,839 keys across 25 operating hotels in 12 of India’s key urban consumption centres, including Bengaluru, Hyderabad, National Capital Region, Pune, Chennai and Ahmedabad, as of February 28, 2023.

JM Financial and Kotak Mahindra Capital are the investment bankers working on the issue and KFin Technologies Limited is the registrar for the same.