SAMHI Hotels’ IPO concludes with five times subscription

SAMHI Hotels IPO: SAMHI Hotels’ initial public offering (IPO), to raise up to Rs 1,370 crore through a combination of fresh issuance and an offer for sale (OFS), concluded on Monday with an overall subscription of more than five times. Gurugram-based SAMHI Hotels owns hotels and manages assets under an institutional ownership model.

SAMHI Hotels IPO subscription details

At the end of the three-day bidding process, the IPO received bids for 33.3 crore shares against the 6.3 crore shares on offer, according to provisional exchange data.

Here’s how investors across different categories responded to the Samhi Hotels issue:

Category Reservation Subscription (No. of times the equity reserved)
Qualified institutional buyers  75% 8.8
Non-institutional investors 15% 1.2
Retail investors 10% 1.1
Total 5.3
Source: Exchange data

While 75 per cent of the total issue was reserved for qualified institutional buyers (QIBs), 15 per cent was intended for non-institutional investors (NIIs)—also known as high net worth individuals, and the remaining 10 per cent for retail investors.

The SAMHI Hotels IPO comprised fresh issuance of 9.5 crore shares, worth up to Rs 1,200 crore, and an offer-for-sale (OFS) worth Rs 170 crore by promoters and existing shareholders.

Here are a few important details to know about the SAMHI Hotels IPO:

Important dates

The basis for the allotment of shares is set to take place tentatively on September 22, and the credit of shares into the accounts of winning bidders on September 26. SAMHI Hotels shares are set to be listed on stock exchanges BSE and NSE on September 27.

Issue price

Under the IPO, which was open from September 14 to September 18, SAMHI Hotels shares were available for bidding in a range of Rs 119-126 in multiples of 119, translating to Rs 14,161-14,994 per lot.

JM Financial and Kotak Mahindra Capital are the lead managers of the IPO whereas Kfin Technologies is the official registrar.

What does SAMHI Hotels do?

Incorporated in 2010, Gurugram-based Samhi has a portfolio of 31 operating hotels in 14 cities. SAMHI operates hotels under brands such as Courtyard by Marriott, Sheraton, Hyatt Regency, Hyatt Place, Fairfield by Marriott, Four Points by Sheraton, and Holiday Inn Express.

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