RHP Link: https://www.sebi.gov.in/filings/public-issues/sep-2023/samhi-hotels-limited-rhp_76526.html

SAMHI Hotels Limited IPO to open on Sept 14; check price band, lot size, GMP & other details

SAMHI Hotels is planning to raise Rs 1,370 crore which comprises of fresh issue worth Rs 1,200 crore and an OFS worth Rs 170 crore.

MUMBAI, SEPTEMBER 11, 2023 (GPN): The Gurguram-based  SAMHI Hotels Ltd has fixed the price band at Rs. 119 to Rs. 126 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Thursday, September 14, 2023, for subscription and closes on Monday, September 18, 2023. Investors can bid for a minimum of 119 Equity Shares and in multiples of 119 Equity Shares thereafter.

The Public Issue of face value of ₹1 per Equity Share comprises of fresh issuance of equity shares worth Rs 1200 crore and an Offer for Sale (OFS) up to 13.50 million equity shares.

Ahead of the launch of its initial public offering (IPO), Blue Chandra Pte. Ltd sold 10.32 million shares or 8.4% stake to renowned investor Madhusudan Kela’s wife, Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings have picked up stake in Gurugram-based SAMHI Hotels for a total consideration of Rs 130 crore.

SAMHI Hotels Limited acquires or builds primary hotels and thereafter renovates, rebrands, re rates the property and runs it efficiently. In just 13 years in business, it added 369 keys in the last financial year (FY23) to become the third largest hotel owner by number of keys.

Pursuant to the completion of the ACIC Acquisition on August 10, 2023, its portfolio has further increased to 4,801 keys across 31 operating hotels. It has land to build a 350 keys hotel in MIDC, Navi Mumbai. With the acquisition, SAMHI will get access to new cities like Jaipur and will improve its inventory and market share in Hyderabad, Pune, Chennai, and Ahmedabad. In addition, it plans to add two additional hotels and 617 keys in existing cities as well as two new cities, Kolkata and Navi Mumbai, Maharashtra increasing its presence to 14 key urban consumption centers.

Earlier, the company filed its IPO papers with Sebi in September 2019 and had obtained the markets regulator’s approval in November 2019, to float the initial share sale but the company did not go ahead with the launch.As of February 2023, it is the largest owner of Fairfield by Marriott and Holiday Inn Express brands in India.

Some of the marquee names in its portfolio are Hyatt Regency, Pune; Courtyard by Marriott, Bengaluru; Four Points by Sheraton (Ahmedabad & Vizag); Fairfield by Marriott in Chennai Sriperembudur, Coimbatore, Goa, Kharadi, Bengaluru) and Holiday Inn Express across Ahmedabad, Bengaluru, Pune, Gurgaon, Hyderabad, Nashik, and Chennai. 

Samhi has a portfolio of 3,839-key rooms spread across 25 operating hotels in 12 of India’s major urban consumer hubs, including Bengaluru, Hyderabad, National Capital Region (NCR), Pune, Chennai, and Ahmedabad, as of February 28, 2023.

JM Financial Limited, and Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.

Note:

Issue Size of the IPO based on the upper and lower end of the price band

	Fresh	OFS (13,500,000 equity shares)	Total
Lower Band (@Rs 119)	Rs 1200 crore	Rs 160.65 crore	Rs 1360.65 crore
Upper Band (@Rs 126)	Rs 1200 crore	Rs 170.10 crore	Rs 1370.10 crore

SAMHI HOTELS LIMITED IPO ALL DETAILS:

DATE : 14-SEP TO 18-SEP-2023
FV : Rs.1
PRICE : Rs.119 – Rs.126
MARKET LOT : 119 SHARES
APP AMT : Rs.14,994
SIZE : Rs.1,370.1 CR
RETAIL FORM : 91,377
HNI SMALL FORM : 3,263
HNI BIG FORM : 6,527
QIB : 75%
NII : 15%
RETAIL : 10%
LISTING AT : BSE, NSE
REGISTRAR : KFIN TECH
ALLOTMENT : 25-SEP-2023
LISTING : 27-SEP-2023

#SAMHI