SAMHI Hotels IPO: Last day to subscribe; receive 19% subscription so far

18 Sep 2023 , 11:38 AM

The Samhi Hotels IPO has garnered a 19% subscription rate as of the third day of its offering. Commencing on Thursday, September 14, the IPO is set to conclude today. On the second day of the offering, subscriptions reached 12%. Click here to subscribe the IPO.

By 11.30 AM on the third day, retail investors have demonstrated most support for the IPO by subscribing to 75% of their allocated shares, which constitute 10% of the total IPO size. In contrast, high net worth individuals (non-institutional investors), allotted 15% of the shares, subscribed to 21%. However, qualified institutional buyers (QIBs), with a substantial allocation of 75% of the offer size, subscribed to a mere 0.005% of their quota.

The IPO offers shares at a price band of Rs 119-126 per share.

The utilization of net fresh issue proceeds is earmarked for repaying debts amounting to Rs 900 crore, while the remaining funds from the fresh issue will be directed towards general corporate purposes.

Samhi Hotels specializes in the acquisition or construction of primarily business-oriented hotels. The company further enhances these properties and collaborates with established branded hotel operators to position the hotels effectively within the market. Samhi Hotels boasts a portfolio of 4,801 keys across 31 operational hotels situated in key urban consumption centers across India.