SAMHI Hotels IPO to open on Thursday
SAMHI Hotels will open on Thursday, September 14, for subscription and closes on Monday, September 18.
The public issue of face value of Rs 1 per equity share comprises a fresh issuance of equity shares worth Rs 1200 crore and an Offer for Sale (OFS) of up to 13.50 million equity shares.
SAMHI Hotels has fixed the price band at Rs 119 to Rs 126 per equity share for its maiden public offer. Investors can bid for a minimum of 119 equity shares and in multiples of 119 equity shares thereafter.
Ahead of the IPO, Madhuri Madhsudan Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings have picked up stake in Gurugram-based SAMHI for a total consideration of Rs 130 crore from Blue Chandra Pte Ltd.
As per disclosures made by SAMHI last week, selling shareholder, Blue Chandra Pte.
Ltd sold 10.32 million shares or an 8.4% stake at an issue price of Rs 126 per equity share on September 6 and 8.
SAMHI Hotels Limited acquires or builds primary hotels and thereafter renovates, rebrands, re rates the properties. The company claims that it has over 43% share of all Fairfield by Marriott and 71% of Holiday Inn Express hotels in India.
It added 369 keys in the last financial year.
SAMHI said pursuant to the completion of the ACIC Acquisition on August 10, this year, its portfolio has further increased to 4,801 keys across 31 operating hotels. It has land to build a 350 keys hotel in MIDC, Navi Mumbai.
The company said with the acquisition, it will get access to new cities such as Jaipur and will improve its inventory and market share in Hyderabad, Pune, Chennai, and Ahmedabad. In addition, it plans to add two additional hotels and 617 keys in existing cities as well as two new cities, Kolkata and Navi Mumbai, Maharashtra
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