Samhi Hotels IPO: day 2 shows modest response, 34% retail share

JSW Infrastructure IPO: opening on 25 Sep, price band ₹113-119

Samhi Hotels IPO Day 2 Subscription Status, GMP & Other Details

The Samhi Hotels IPO, which commenced its subscription process on Thursday, September 14, is showing a moderate response on its second day. Let’s dive into the latest subscription status and key details of this highly anticipated IPO.

Samhi Hotels IPO Subscriptions on Day 1

On the first day of subscription, Samhi Hotels IPO garnered a relatively subdued response, with an overall subscription rate of 7%. The IPO is open for subscription until Monday, September 18, giving investors ample time to consider their options.

Retail Investors Show Interest

The retail segment of the Samhi IPO witnessed a more promising response, with a subscription rate of 34%. This indicates significant interest among individual investors. In contrast, the Non-Institutional Investors (NII) portion saw a subscription rate of 2%, while the Qualified Institutional Buyers (QIBs) segment did not receive any subscriptions.

Also Read: SAMHI Hotels IPO Details | GMP, Date, Price, Review

Samhi Hotels IPO Subscription Status

Here is the subscription status for each segment of the Samhi Hotels IPO:

  • Total Bids: The IPO received bids for 43,39,930 shares against the 6,25,29,831 shares on offer, according to data from the BSE.
  • Retail Investors: Retail investors enthusiastically bid for 39,13,672 shares against the 1,14,34,033 shares available for this segment.
  • Non-Institutional Investors: The NII portion garnered bids for 4,24,354 shares against the 1,71,51,050 shares offered.
  • Qualified Institutional Buyers (QIBs): The QIB segment received bids for 1,904 shares, a fraction of the 3,39,44,748 shares available.

Also Read: SAMHI Hotels IPO Subscription Status (Live Data)

Samhi Hotels IPO Details

The Samhi Hotels IPO is priced in the range of ₹119 to ₹126 per equity share, each with a face value of ₹1. The company aims to raise ₹1,370.10 crore through this public issue, with ₹1,200 crore coming from a fresh issue and the remaining ₹170.10 crore via the Offer for Sale (OFS) route.

Investors can subscribe to the IPO in lots of 119 equity shares and multiples thereof. Notably, Samhi Hotels secured ₹616.50 crore from anchor investors on September 13.

Samhi Hotels Pre-IPO Transactions

Before the IPO opened, Blue Chandra Pte. Ltd. sold 10.32 million shares, equivalent to 8.4% of the company, to Madhuri Kela, the wife of renowned investor Madhusudan Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings. This transaction amounted to ₹130 crore.

Samhi Hotels Business

Samhi Hotels Ltd specializes in acquiring or constructing top-tier hotels, followed by renovations, rebranding, and facility enhancement to ensure successful management. Despite being in operation for just 13 years, the company made impressive strides in the most recent fiscal year (FY23) by adding 369 keys, solidifying its position as the third-largest hotel owner in terms of keys.

Utilization of Proceeds

The net proceeds from the fresh issue will be allocated toward debt payment and general corporate purposes. JM Financial and Kotak Mahindra Capital Company serve as the book running lead managers for the IPO, while Kfin Technologies is the IPO registrar.

Samhi Hotels IPO Timeline

Mark your calendars for the following IPO timeline:

  • Allotment: Tentatively scheduled for Friday, September 22, 2023.
  • Demat Accounts: Shares allotted will be credited to Demat accounts on Tuesday, September 26, 2023.
  • Refund Process: Commences on Monday, September 25, 2023, for investors who do not receive shares.
  • Listing Date: Samhi Hotel IPO shares are set to be listed on NSE and BSE on Wednesday, September 27, 2023.

Samhi Hotels IPO GMP

As of today, the Samhi IPO GMP stands at +16, showing an increase from +14 on the previous trading session. With this premium and considering the upper end of the IPO price band, the estimated listing price for Samhi Hotels shares is ₹142 apiece, reflecting a 12.7% increase over the IPO price of ₹126.

About Samhi Hotels:

Samhi Hotels, incorporated on December 28, 2010, is a non-government company registered with the Registrar of Companies in Delhi. Samhi Hotels Limited is primarily engaged in the provision of short-stay accommodation, including hotels and camping sites. This category also encompasses restaurants that operate in conjunction with lodging facilities. Furthermore, the operation of sleeping cars by separate units is included within this group.

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