Key Points of Samhi Hotels IPO Re-file with Sebi:
- Samhi Hotels Ltd has re-filed preliminary papers to SEBI for an IPO to raise funds.
- The IPO includes fresh equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of 90 lakh equity shares by existing shareholders.
- The OFS includes the sale of equity shares by Blue Chandra Pte Ltd, Goldman Sachs Investments Holdings (Asia) Limited, GTI Capital Alpha Pvt Ltd, and International Finance Corporation.
- The company may consider a private placement of equity shares aggregating up to Rs 200 crore in pre-IPO placement.
- The net proceeds of the fresh issue will be utilized to pay off debt and for general corporate purposes.
- Samhi owns 25 operating hotels across 12 major urban consumer hubs in India, with a portfolio of 3,839 keys as of February 28, 2023.
- Samhi Hotels Ltd is the largest owner of the Fairfield by Marriott and Holiday Inn Express brands in India and reported a revenue of Rs 322.74 crore for the fiscal year ended March 2022.
Details of Samhi Hotels IPO Re-file with Sebi:
Samhi Hotels Ltd has submitted a revised draft red herring prospectus to the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The company plans to issue fresh equity shares worth Rs 1,000 crore and sell 90 lakh equity shares through an offer-for-sale (OFS) by existing shareholders. The OFS includes the sale of equity shares by Blue Chandra Pte Ltd, Goldman Sachs Investments Holdings (Asia) Limited, GTI Capital Alpha Pvt Ltd, and International Finance Corporation. JM Financial Ltd and Kotak Mahindra Capital Company Ltd will manage the issue, while KFin Technologies Ltd will act as the registrar.
The IPO is a partial exit by existing shareholders to comply with listing regulations. In addition, the Gurugram-based company may consider a private placement of equity shares aggregating up to Rs 200 crore in pre-IPO placement.
If such placement is completed, the fresh issue size will be reduced. The company plans to utilize the net proceeds of the fresh issue amounting to Rs 750 crore to pay off debt and for general corporate purposes.
Samhi Hotels Ltd owns 25 operating hotels across 12 major urban consumer hubs in India, with a portfolio of 3,839 keys as of February 28, 2023. Last week, the company entered into a share subscription and purchase agreement with Asiya Capital and ACIC SPVs to acquire 962 keys across six operating hotels and land to build a 350-key hotel in MIDC, Navi Mumbai.
With this acquisition, Samhi will have access to new cities like Jaipur and will improve its inventory and market share in Hyderabad, Pune, Chennai, and Ahmedabad. The company also plans to add two additional hotels and 617 keys in existing cities, as well as two new cities, Kolkata and Navi Mumbai, increasing its presence to 14 key urban consumption centers.
As of February 2023, Samhi Hotels Ltd is the largest owner of the Fairfield by Marriott and Holiday Inn Express brands in India, operating under long-term management contracts with global hotel operators like Marriott, Hyatt, and IHG. For the fiscal year ended March 2022, the company reported a revenue of Rs 322.74 crore, a 90% increase from the previous fiscal year’s revenue of Rs 169.58 crore.
About Samhi Hotels:
Samhi Hotels, incorporated on December 28, 2010, is a non-government company registered with the Registrar of Companies in Delhi. The company’s authorized share capital is Rs. 130,000,000, and its paid-up capital is Rs. 76,270,704. 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.
For More Latest News Click Here
