Samhi Hotels and Motisons Jewellers Receives SEBI Approval for IPO Launch

6 Sep 2023 , 12:05 PM

Samhi Hotels, with backing from Equity International, Asiya Capital, and Goldman Sachs, has secured approval from the Securities and Exchange Board of India (SEBI) to initiate its initial public offering (IPO) aimed at raising approximately Rs 1,400 crore.

The company had initially filed IPO documents in September 2019 with the intention of raising around Rs 2,000 crore. However, the plans were disrupted by the onset of the COVID-19 pandemic in early 2020. In March, Samhi Hotels resubmitted its draft papers for the IPO.

According to the latest prospectus, the IPO will encompass fresh issuances totaling Rs 1,000 crore, alongside an offer-for-sale (OFS) of 90 lakh shares by existing investors.

The OFS will include shares sold by key stakeholders such as Blue Chandra, Goldman Sachs Investments Holdings (Asia), GTI Capital Alpha, and the International Finance Corporation.

JM Financial, and Kotak Mahindra Capital Company are the merchant bankers to the issue.

Motisons Jewellers IPO

On August 28, the market regulator granted approval to Motisons Jewellers for its proposed public offering, following the submission of draft papers in March. The IPO exclusively consists of fresh issuances, amounting to 3.34 crore equity shares.

This signifies that the entire proceeds from the IPO, after accounting for expenses, will be channeled towards fulfilling the company’s objectives, including debt repayment, meeting working capital needs, and addressing general corporate requirements.

Motisons Jewellers, headquartered in Rajasthan and boasting over two decades of experience in the jewelry retail sector, operates four showrooms under the Motisons brand. The company is wholly owned by the Chhabra family.

Holani Consultants has been appointed as the book running lead manager for this forthcoming IPO.