09-Sep-2023
2 mins read
Goldman Sachs-affiliated SAMHI Hotels is set to open its Initial Public Offering (IPO) to the public on September 14, closing on September 18, as revealed in the preliminary prospectus. Bids from anchor investors are invited on September 13. Although the price range for the shares has not been disclosed yet, the company, based in Gurugram, has updated its new issue size to Rs 1,200 crore, up from the original INR 1,000 crore target.
The forthcoming IPO from SAMHI Hotels is structured to include new equity shares amounting to Rs 1,200 crore as well as an Offer for Sale (OFS) of 1.35 crore shares by current stakeholders. The IPO window is slated to be open from September 14 to September 18, with anchor investors getting the opportunity to bid on September 13.
In the Offer for Sale, Blue Chandra Pte Ltd plans to offload around 84.28 lakh shares, Goldman Sachs Investments Holdings (Asia) Ltd aims to sell close to 49.31 lakh shares, and GTI Capital Alpha Pvt Ltd intends to part with up to 1.4 lakh shares. This move is intended as a partial divestment by existing shareholders to comply with listing regulations.
SAMHI Hotels Limited Product Portfolio
Founded in 2010, SAMHI Hotels Limited stands as a prominent platform for hotel ownership and asset management in India. As of the end of March 2023, the company manages an impressive portfolio of 4,801 rooms, distributed across 31 hotels in 14 key cities throughout India. These strategic locations encompass cities like Bengaluru in Karnataka, Hyderabad in Telangana, the National Capital Region (NCR), Pune in Maharashtra, Chennai in Tamil Nadu, and Ahmedabad in Gujarat. Moreover, the company has plans to further extend its footprint with two upcoming hotels, which will add 461 more rooms, situated in Kolkata and Navi Mumbai.
On August 10, 2023, SAMHI Hotels expanded its portfolio through the acquisition of Asiya Capital and its associated special purpose vehicles (the ACIC SSPA). This added 962 more rooms to the company’s inventory, distributed across six existing hotels, and also included land earmarked for a new hotel development in Navi Mumbai, Maharashtra.
SAMHI collaborates with leading hotel operators for the management of its properties. These include brands like Courtyard by Marriott, Sheraton, Hyatt Regency, Hyatt Place, Fairfield by Marriott, Four Points by Sheraton, and Holiday Inn Express. These partnerships provide SAMHI’s hotels with a range of benefits such as access to loyalty programs, operational expertise, industry-leading practices, digital booking platforms, and marketing know-how.
The Objectives of SAMHI Hotels Limited IPO
The firm plans to allocate the net earnings from the public offering for specific uses. These include either partially or fully settling debts that the company and its subsidiary entities have incurred, along with covering the interest that has accumulated on these borrowings. Additionally, some of the funds will be directed towards general business activities.
Financial Performance of SAMHI Hotels Limited (In Rs Crore)
| Period Ended | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 2,488.00 | 2,386.58 | 2,263.00 |
| Revenue | 179.25 | 333.1 | 761.42 |
| Profit After Tax | -477.73 | -443.25 | -338.59 |
| Net Worth | -259.28 | -702.63 | -871.43 |
| Reserves and Surplus | -203.12 | -646.47 | -816.18 |
| Total Borrowing | 2,424.40 | 2,597.69 | 2,787.54 |
Important Details for SAMHI Hotels Limited IPO (Tentative)
| IPO Date | September 14, 2023 to September 18, 2023 |
| Listing Date | Yet to be announced |
| Face Value | Re 1 per share |
| Price | Yet to be announced |
| Lot Size | Yet to be announced |
| Total Issue Size | Yet to be announced |
| Fresh Issue | Aggregating up to Rs 1,200.00 Cr |
| Offer for Sale | 13,500,000 shares of Re 1 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 122,797,231 |
Timetable of SAMHI Hotels Limited IPO (Tentative)
| IPO Open Date | Thursday, September 14, 2023 |
| IPO Close Date | Monday, September 18, 2023 |
| Basis of Allotment | Friday, September 22, 2023 |
| Initiation of Refunds | Monday, September 25, 2023 |
| Credit of Shares to Demat | Tuesday, September 26, 2023 |
| Listing Date | Wednesday, September 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 18, 2023 |
SAMHI Hotels IPO Reservation
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
SAMHI Hotels Limited IPO Lead Manager(s)
The Lead managers for SAMHI Hotels Limited IPO are JM Financial Limited and Kotak Mahindra Capital Company Limited.
How to Apply for SAMHI Hotels Limited IPO
Wait for the public issue to open for subscription, then click on this link to apply for the SAMHI Hotels Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of SAMHI Hotels Limited IPO
The registrar for SAMHI Hotels Limited IPO is Kfin Technologies Limited. To check your allotment status, please click on this link https://kosmic.kfintech.com/ipostatus/
FAQs
- What is the SAMHI Hotels Limited IPO?
SAMHI Hotels, affiliated with Goldman Sachs, is planning an Initial Public Offering (IPO). The IPO will be open for public subscription from September 14 to September 18, 2023. The IPO includes both fresh equity shares and an Offer For Sale (OFS) by existing shareholders.
- When can anchor investors place their bids?
Anchor investors can place their bids on September 13, 2023.
- What is the price band for the IPO?
The price band has not been announced yet, but the size of the fresh issue has been updated to Rs 1,200 crore, up from an initial target of INR 1,000 crore.
- What are the primary objectives of the IPO?
The primary aim is to utilize the net proceeds for debt repayment or prepayment and for general corporate purposes.
- How has SAMHI Hotels performed financially?
As of March 31, 2023, the company had assets worth 2,263 crores INR, revenue of 761.42 crores INR, and a net loss after tax of -338.59 crores INR.
- What are the tentative important dates for the IPO?
- IPO Open Date: September 14, 2023
- IPO Close Date: September 18, 2023
- Basis of Allotment: September 22, 2023
- Initiation of Refunds: September 25, 2023
- Credit of Shares to Demat: September 26, 2023
- Listing Date: September 27, 2023
- What is the face value of the share?
The face value is Re 1 per share.
- Who are the lead managers for the IPO?
The lead managers are JM Financial Limited and Kotak Mahindra Capital Company Limited.
- How can I apply for the IPO?
You can apply for the IPO through the link provided on the Bigul website at https://ipo.bonanzaonline.com/.
- How to check the allotment status?
The allotment status can be checked on the website of Kfin Technologies Limited at https://kosmic.kfintech.com/ipostatus/.
- What is the reservation allocation for different types of investors?
- QIB Shares Offered: Not less than 75.00% of the Net offer
- NII (HNI) Shares Offered: Not more than 15.00% of the Offer
- Retail Shares Offered: Not more than 10.00% of the Offer
- What is the total issue size?
The total issue size has not been announced yet, but the fresh issue will aggregate up to Rs 1,200.00 Cr and the Offer for Sale is for 13,500,000 shares of Re 1 each.
- Where will the shares be listed?
The shares will be listed on BSE and NSE.