Samhi Hotels IPO: Price band set at Rs 119-Rs 126 per share

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Samhi Hotels IPO Price Band: Rs 119 to Rs 126 Per Share

In a significant development, Samhi Hotels has unveiled the price band for its eagerly awaited initial public offering (IPO). The company is offering shares at an attractive price band of ₹119 to ₹126 per share, each with a face value of ₹1. Investors can mark their calendars for this exciting opportunity, as the IPO opens for public subscription on September 14, 2023, and will conclude on September 18, 2023.

Anchor Investor Bidding Set to Begin on September 13

Before the IPO kicks off for the general public, anchor investors will have a unique chance to participate. The anchor investor bidding process for the IPO, backed by the renowned Goldman Sachs, is scheduled to commence on September 13, 2023. This strategic move is detailed in the red herring prospectus (RHP).

A Closer Look at Samhi Hotels’ IPO Plans

As previously reported by Mint, Samhi Hotels’ IPO comprises two key components: a fresh issue of equity shares worth ₹1,200 crore and an Offer For Sale (OFS) of 1.35 crore equity shares by existing shareholders. This exciting opportunity to invest in the company will be open from September 14, 2023, to September 18, 2023, with anchor investors participating on September 13, 2023.

Key Shareholders Participating in the Offer For Sale (OFS)

The OFS includes the sale of 84.28 lakh equity shares by Blue Chandra Pte Ltd, up to 49.31 lakh equity shares by Goldman Sachs Investments Holdings (Asia) Ltd, and up to 1.4 lakh equity shares by GTI Capital Alpha Pvt Ltd. This move serves as a partial exit strategy for existing shareholders to align with listing regulations.

A Look Back at Samhi Hotels’ IPO Journey

Samhi Hotels initiated its IPO filing with Sebi in September 2019, securing approval from the market regulator in November 2019. However, the company did not proceed with the IPO launch at that time.

Utilizing Fresh Issue Proceeds for Growth

The company, headquartered in Gurugram, intends to utilize the net proceeds from the fresh issue, which is expected to amount to ₹750 crore, for debt repayment and general corporate purposes. This move demonstrates Samhi Hotels’ commitment to strengthening its financial position and pursuing further growth opportunities.

Samhi Hotels’ Expansive Portfolio

Samhi Hotels boasts an impressive portfolio of 3,839-key rooms spread across 25 operating hotels in 12 of India’s major urban consumer hubs. These include vibrant cities such as Bengaluru, Hyderabad, National Capital Region (NCR), Pune, Chennai, and Ahmedabad, as of February 28, 2023.

A Leading Player in the Hospitality Industry

As of February 2023, Samhi Hotels proudly holds the title of the largest owner of Fairfield by Marriott and Holiday Inn Express brands in India. The company operates under long-term management contracts with globally recognized hotel operators like Marriott, Hyatt, and IHG.

Investors and stakeholders alike are eagerly anticipating the IPO launch, recognizing it as a promising opportunity to join hands with Samhi Hotels on its exciting journey in the hospitality industry. Stay tuned for more updates as the IPO date approaches!

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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