SAMHI Hotels sets Rs 119-126 price band for its Rs 1,370 crore-IPO
SAMHI Hotels has fixed a price band of Rs 119-126 per equity share for its maiden public offer, which opens for subscription on September 14.
The issue, which closes on September 18, comprises fresh issuance of equity shares worth Rs 1,200 crore and an offer for sale (OFS) of up to 1.35 crore equity shares.
Under the OFS, Blue Chandra Pte will offload 84.2 lakh shares, Goldman Sachs to sell up to 49.31 lakh equity shares and GTI Capital Alpha will give up 1.4 lakh shares.
The offer is being made through the book-building process where 75% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Investors can bid for a minimum of 119 equity shares and in multiples thereafter.
Ahead of the IPO launch, Blue Chandra Pte sold 10.32 million shares or 8.4% stake to renowned investor Madhusudan Kela's wife, Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, who have picked up a stake in Gurugram-based SAMHI Hotels for a total consideration of Rs 130 crore.
SAMHI Hotels is a prominent hotel ownership and asset management platform in India, with the third largest inventory of operational keys (owned and leased) in the country as of February, 2023.
The company acquires or builds primary hotels and thereafter renovates, and rebrands the properties under its wings.
