Mumbai, September 11, 2023: SAMHI Hotels Ltd has fixed the price band at ₹119 to ₹126 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Thursday, September 14, 2023, for subscription and closes on Monday, September 18, 2023. Investors can bid for a minimum of 119 Equity Shares and in multiples of 119 Equity Shares thereafter.
The Public Issue of face value of ₹1 per Equity Share comprises of fresh issuance of equity shares worth Rs 1200 crore and an Offer for Sale (OFS) up to 13.50 million equity shares.
Ahead of the launch of its initial public offering (IPO), Blue Chandra Pte. Ltd 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 have picked up stake in Gurugram-based SAMHI Hotels for a total consideration of Rs 130 crore.
SAMHI Hotels Limited acquires or builds primary hotels and thereafter renovates, rebrands, re rates the property and runs it efficiently. In just 13 years in business, it added 369 keys in the last financial year (FY23) to become the third largest hotel owner by number of keys.
Pursuant to the completion of the ACIC Acquisition on August 10, 2023, 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. With the acquisition, SAMHI will get access to new cities like 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 increasing its presence to 14 key urban consumption centers.
Some of the marquee names in its portfolio are Hyatt Regency, Pune; Courtyard by Marriott, Bengaluru; Four Points by Sheraton (Ahmedabad & Vizag); Fairfield by Marriott in Chennai Sriperembudur, Coimbatore, Goa, Kharadi, Bengaluru) and Holiday Inn Express across Ahmedabad, Bengaluru, Pune, Gurgaon, Hyderabad, Nashik, and Chennai.
JM Financial Limited, and Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.
Notes for Reference:
Issue Size of the IPO based on the upper and lower end of the price band
Fresh OFS (13,500,000 equity shares) Total
Lower Band (@Rs 119) Rs 1200 crore Rs 160.65 crore Rs 1360.65 crore
Upper Band (@Rs 126) Rs 1200 crore Rs 170.10 crore Rs 1370.10 crore