Sebi gives nod to Samhi Hotels, Motisons Jewellers to float IPOs
₹1,000 crore and an Offer For Sale (OFS) of 90 lakh equity shares by existing shareholders. ALSO READ: Rishabh Instruments IPO: Latest GMP, how to check allotment status online The OFS consists of the sale of 42.36 lakh equity shares by Blue Chandra Pte Ltd, up to 24.78 lakh equity shares by Goldman Sachs Investments Holdings (Asia) Ltd, up to 15.47 lakh equity shares by GTI Capital Alpha Pvt Ltd, and up to 7.39 lakh equity shares by International Finance Corporation. It is a partial exit by the existing shareholders to meet the listing regulations.
The firm in September 2019 had filed its IPO papers with Sebi and 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 firm said it will utilize net proceeds of the fresh issue to the tune of ₹750 crore towards payment of debt and for general corporate purposes. As of 28 February 2023, Samhi has a portfolio of 3,839 key rooms spread across 25 operating hotels in 12 of India's major urban consumer hubs, including Bengaluru, Hyderabad, National Capital Region (NCR), Pune, Chennai, and Ahmedabad.
The Gurguram-based company is the largest owner of Fairfield by Marriott and Holiday Inn Express brands in India. It operates under long-term management contracts with global hotel operators like Marriott, Hyatt, and IHG. Meanwhile, Jaipur-based jewelry retail player Motisons Jewellers' IPO comprises fresh issuance of 3.34 crore equity shares and there is no OFS component.
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