Samhi Hotels is into Consumer Hospitality-Hotels and is looking raise funds through Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 1200 crores and an Offer for Sale up to 13,500,000 Equity Shares
Samhi Hotels IPO is a public offering of shares by Company is a professionally managed company and does not have an identifiable promoter.. The IPO will open on September 14 and will close on September 18. The price band is ₹119 to ₹126 per share and the lot size is 119 shares. The issue size is ₹1,370.1 crore. The shares are expected to be listed on NSE, BSE on September 27 (^). Some additional information that you may find useful are: Currently Hotels are operating with total 3839 keys with an average occupancy rate of 71.68% as on Feb'23. Share of hotel room keys for Upper Upscale and Upscale/Upper Mid-scale/Mid-scale at 1074/1201/1564 as on Feb'23. Average room rent for six month ended Sep'22 was at Rs4639. : (**) - based on higher price band (^) indicative date
Promoters of the company are Company is a professionally managed company and does not have an identifiable promoter. Currently promoters hold 0% stake in the company as it is professionally managed.
Quick Pointers
- Company aims to raise between Rs 1,361 to 1,370 crs through this IPO.
- The net proceeds of the issue will be utilized to 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 amounting to Rs. 900 Cr. and and 2) General corporate purposes
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 13-Sep-23.
- Price band for the IPO has been fixed at Rs 119 to 126 per share and bid lot are in multiple of 119 shares. The implied market cap post-issue at Rs 2,661 to 2,747 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on September 22 and share are expected to be listed on NSE, BSE on September 27.
- Company has direct competition in the Hotels space with listed players including Chalet Hotels, Lamon Tree Hotels , Indian Hotels and EIH
- JM Financial, Kotak Mahindra Capital has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.
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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.
Currently Hotels are operating with total 3839 keys with an average occupancy rate of 71.68% as on Feb'23. Share of hotel room keys for Upper Upscale and Upscale/Upper Mid-scale/Mid-scale at 1074/1201/1564 as on Feb'23. Average room rent for six month ended Sep'22 was at Rs4639.
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