Samhi Hotels is into Consumer Hospitality Hotels and is looking raise funds through Fresh Issue and Offer for Sale
Samhi Hotels IPO: Samhi Hotels Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 1 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 1000 crores and an Offer for Sale up to 9,000,000 Equity Shares. JM Financial, Kotak Mahindra Capital have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,000 Crs and offer-for-sale (OFS) of up to 9,000,000 equity shares by Blue Chandra Pte. Ltd, Goldman Sachs Investments Holdings (Asia) Limited, GTI Capital Alpha Pvt Ltd and International Finance Corporation who will offload Up to 4,235,822 Equity Shares, Up to 2,478,363 Equity Shares, Up to 1,547,018 Equity Shares and Up to 738,797 Equity Shares respectively...
Objects of the issue:
1) Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed of by the Company and its Subsidiaries including payment of the interest accrued thereon, and General corporate purposes.
Promoters of Samhi Hotels are Company is a professionally managed company and does not have an identifiable promoter. and holds % stake in the company.
About Company:
Samhi Hotels Limited is established in 2010 and its business model is hotel ownership and asset management platform in India, with the third largest inventory of operational keys (owned and leased) in India as of February 28, 2023 (Source: JLL Report). Company is having a portfolio of 3,839 keys across 25 operating hotels in 12 of India’s key urban consumption centers, including Bengaluru, Hyderabad, National Capital Region, Pune, Chennai and Ahmedabad, as of February 28, 2023. All of the hotels are in the Upper Upscale and Upscale, Upper Mid-scale and Mid-scale hotel segments. Company's hotels typically operate under long-term management contracts with established and well recognized global hotel operators such as Marriott, Hyatt and IHG.
About Industry:
The Indian travel and tourism industry is expected to demonstrate strongdemand growth between 2019 and 2028 with a CAGR of 10.35%. The Indian hospitality industry directly benefits from economic growth in India. Rapid urbanization, expansion of office market, increasing domestic travel, low set-up costs as compared to other developed and developing economies, initiatives from the Government of India and the availability of an established talent pool provide strong demand for the hospitality industry in the foreseeable future. On the back of this surge in domestic consumption and underlying GDP growth, the Indian hospitality industry is seeing strong capacity utilization in recent quartersof the Financial Year 2023. (Source: JLL Report)
Source: SEBI, BSE, NSE, DRHP, Samhi Hotels, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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