Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Samhi Hotels' Initial Public Offering (IPO) concluded on a high note, garnering a subscription rate of 5.33 times by the end of the final bidding day. This IPO, valued at Rs 1,370 crore, witnessed robust investor interest, with bids pouring in for a total of 33,30,05,911 shares, surpassing the available 6,25,29,831 shares, according to data from the NSE. Qualified institutional buyers (QIBs), often viewed as medium-to-long-term investors, have oversubscribed their 75 percent allocated quota by 8.82 times. However, high-net-worth individuals and retail investors have shown less enthusiasm, subscribing to 1.22 times and 1.11 times their respective portions, constituting 15 percent and 10 percent of the total offering.
The IPO was structured with a fresh issue component of up to Rs 1,200 crore, in addition to an offer for sale of up to 13,500,000 equity shares. The pricing for this offering ranged between Rs 119 and Rs 126 per share. Samhi Hotels, headquartered in Gurugram, in preparation for its upcoming IPO, successfully secured Rs 616.54 crore from anchor investors. The company allocated 4.89 crore shares to 35 anchor investors at a rate of Rs 126 per share. Additionally, in a pre-IPO placement, external investor Blue Chandra divested 10.32 million shares, equivalent to 8.4 percent of its stake, to well-known investor Madhusudan Kela's spouse, Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings. This transaction was completed for a total consideration of Rs 130 crore.
Samhi Hotels stands as a prominent figure in the Indian hospitality sector, boasting a robust branded hotel ownership and asset management platform. With an institutional ownership model and guided by an experienced leadership and professional management team, Samhi maintains a diverse portfolio encompassing 31 operational hotels, totalling 4,801 keys. Its presence extends across 14 cities in India, including prominent locations like the National Capital Region (NCR), Bengaluru, Hyderabad, Chennai, and Pune. Notably, in the recent fiscal year (FY23), it added 369 keys to its portfolio, elevating it to the position of the third-largest hotel owner in terms of keys, all within a relatively brief operational history of 13 years.
The company's utilization of the net proceeds from the fresh issue is earmarked for debt repayment and general corporate purposes. JM Financial and Kotak Mahindra Capital Company have assumed pivotal roles as the book-running lead managers for this IPO, with Kfin Technologies serving as the IPO registrar. These same entities have also fulfilled managerial responsibilities for the offer. Samhi Hotels' IPO highlights the continued vitality of the Indian capital markets and investor confidence in the real estate sector, particularly within the hospitality industry. The successful conclusion of this offering positions Samhi Hotels for further growth and expansion in the dynamic Indian hospitality landscape.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy