Samhi Hotels IPO Set to Open on September 14; Here's All the Details

14 Sep 2023 , 06:38 AM

In just 12 years since commencing business operations, Samhi Hotels has curated an impressive portfolio of 3,839 rooms distributed among 25 operational hotels in 12 of India’s prominent urban consumption hubs, including Bengaluru, Hyderabad, the National Capital Region, Pune, Chennai, and Ahmedabad, as of March 2023. Following the successful acquisition of ACIC on August 10, 2023, the company’s portfolio has expanded even further, now encompassing 4,801 rooms distributed across 31 operational hotels.

Check the important details related to Samhi Hotels IPO here:

1. IPO Dates: The IPO of Samhi Hotels is set to launch on September 14 and will close on September 18. The anchor book, a part of Qualified Institutional Buyers (QIB), will be opened for a day on September 13.

2. IPO Price: The company has set price band for its upcoming IPO at Rs 119-126 per share

3. Offer Details:

• The offer comprises a fresh issuance of shares worth Rs 1,200 crore.
• Additionally, there will be an offer-for-sale (OFS) of 1.35 crore equity shares by three shareholders.
• Singapore-based Blue Chandra Pte Ltd, owned by Equity International Fund V, will offload 84.28 lakh equity shares in the OFS.
• Goldman Sachs Investments Holdings (Asia) will be selling 49.31 lakh shares.
• GTI Capital Alpha will sell 1.4 lakh shares in the OFS.

4. Use of Proceeds: The net proceeds from the IPO will be used for the repayment of debt and other general corporate purposes.

5. Allocation: Samhi Hotels has reserved 75% of the issue size for qualified institutional buyers (QIBs), 15% for high-net-worth individuals (HNIs), and the remaining 10% for retail investors.

6. Allotment and Listing:

• The basis of allotment of IPO shares will be finalized by the company in consultation with the BSE by September 22.
• Eligible investors will receive the shares in their demat accounts by September 26.
• Refunds for unsuccessful investors will be credited to their bank accounts by September 25.
• Samhi Hotels is scheduled to debut on the BSE and NSE on September 27.

7. Business Overview: Samhi Hotels is a prominent branded hotel ownership and asset management platform. The company acquires or builds primarily business hotels and takes steps to upgrade properties, engage with established branded hotel operators, and enhance the financial and operational performance of the properties.

8. Lead Managers and Registrar

Merchant Bankers:

• JM Financial
• Kotak Mahindra Capital Company

Registrar:

• KFin Technologies