Samhi Hotels IPO: Samhi Hotels fixes IPO price band of ₹119 to ₹126 per share
₹119 to ₹126 per share of a face value of ₹1 each for its upcoming initial public offering (IPO) which opens for public subscription on September 14 and closes on September 18. The bidding for the anchor investors of the initial share sale of Goldman Sachs-backed Samhi Hotels will open on September 13, according to the red herring prospectus (RHP). As Mint reported earlier, Samhi Hotels proposed an IPO comprising a fresh issue of equity shares worth ₹1,200 crore and an Offer For Sale (OFS) of 1.35 crore equity shares by existing shareholders.
The IPO will open on 14 September and will remain open till 18 September. Anchor investors can place their bids on 13 September. Read more: Samhi Hotels IPO to open on 14 September, comprises of fresh issue of equity shares worth ₹1,200 crore The OFS consists of the sale of 84.28 lakh equity shares by Blue Chandra Pte Ltd, up to 49.31 lakh equity shares by Goldman Sachs Investments Holdings (Asia) Ltd, up to 1.4 lakh equity shares by GTI Capital Alpha Pvt Ltd.
It is a partial exit by the existing shareholders to meet the listing regulations. Earlier, the company filed its IPO papers with Sebi in September 2019 and had obtained the markets regulator's approval in November 2019, to float the initial share sale but the company did not go ahead with the launch. The Gurguram-based company will utilise net proceeds of the fresh issue to the tune of ₹750 crore towards payment of debt and for general corporate purposes.
Read more on livemint.com
