Samhi Hotels IPO Subscribed 5.33 Times On Final Day
The IPO has been subscribed 5.33 times, as of 5:18 p.m. on Monday.
Samhi Hotels launched its initial public offering on Sept. 14. The hotelier and asset management platform is looking to raise a total of Rs 1,370 crore, out of which Rs 1,200 crore will be raised through a fresh issue.
The IPO was subscribed 7% on day 1 and 12% on day two.
It has raised Rs 616.5 crore from anchor investors ahead of its initial public offering.
The hotelier and asset management platform allotted nearly 4.89 crore shares at Rs 126 apiece to 35 anchor investors.
The investors included the Government of Singapore, SBI Mutual Fund, Aditya Birla Sun Life Insurance, ICICI Prudential, Tata Mutual Fund, Edelweiss MF, Societe Generale, Think India Opportunities Master Fund, Citigroup Global Markets Mauritius, and HSBC Global Investments Fund, among others.
Issue Details
Issue opens: Sept. 14.
Issue closes: Sept. 18.
Face value: Re 1.
Price band: Rs 119-126 per share.
Lot size: 119 shares.
Fresh issue size: Rs 1,200 crore.
Offer for sale size: Rs 170.10 crore.
Total issue size: Rs 1,370.10 crore.
Issue type: Book-building process.
Listing: BSE and NSE.
Blue Chandra Pte. had undertaken a pre-IPO secondary transfer of 1.03 crore shares at a price of Rs 126 per share for a cash consideration of Rs 130 crore on Sept. 6 and 8.
Business
Samhi Hotels is a hotel ownership and asset management platform with the third largest inventory of operational keys, comprising both owned and leased properties, in India.
Their portfolio of hotels comprises 4,801 keys across 31 operating hotels, which are based in key urban consumption centres like Bengaluru, Hyderabad, the National Capital Region, Pune, and Chennai.
They have adopted an acquisition-led strategy wherein they acquire and turnaround hotels to expand their business. They also upgrade properties and then deploy their in-house capabilities for the operations of the hotel.
Their hotel portfolio is categorised into three distinct classifications: upper upscale and upscale, upper mid-scale, and mid-scale. As of FY23, 51.14% of their total income was derived from upper-mid-scale and mid-scale hotels. Their upper-upscale and upscale hotels contributed 47.35% of the total revenue.
Subscription Status: Day 3
The IPO has been subscribed 5.33 times, as of 5:18 p.m. on Monday.
Institutional investors: 8.82 times.
Non-institutional investors: 1.22 times.
Retail investors: 1.11 times.
