Samhi Hotels IPO subscribed 7%

Published on Sep 14, 2023 17:11

The initial public offer (IPO) of Samhi Hotels received bids for 43,32,076 shares as against 6,25,29,831 crore shares on offer, according to stock exchange data at 17:00 IST on Thursday (14 September 2023). The issue was subscribed 0.07 times.

The issue opened for bidding on Thursday (14 September 2023) and it will close on Monday (18 September 2023). The price band of the IPO is fixed at Rs 119-126 per share. An investor can bid for a minimum of 119 equity shares and in multiples thereof.

The IPO consists of a fresh issue of Rs 1,200 crore and an offer-for-sale of up to 1,35,00,000 shares by its existing shareholders.

Out of the proceeds from the fresh issue, Rs 900 crore will be used for repayment, prepayment and redemption, in full or in part, of certain borrowings availed of by the company and its subsidiaries and the balance for general corporate purposes.

Ahead of the IPO, Samhi Hotels on Wednesday, 13 September 2023, raised Rs 616.54 crore from anchor investors. The board allotted 4.89 crore shares at Rs 126 each to 35 anchor investors.

Samhi Hotels is a prominent branded hotel ownership and asset management platform in India with an institutional ownership model, experienced leadership and professional management team. Samhi has a portfolio of 31 operating hotels comprising 4,801 keys and has a diverse geographic presence in 14 cities across India, including National Capital Region (NCR), Bengaluru, Hyderabad, Chennai and Pune.

The company reported a net loss of Rs 338.59 crore and net sales of Rs 738.57 crore for the twelve months ended on 31 March 2023.