Samhi Hotels IPO Subscribed 1.02 Times as Subscription Nears Closing

Samhi Hotels IPO Subscribed 1.02 Times as Subscription Nears Closing

VoM News Desk | September 18, 2023 | 10:26 AM IST | Breaking News | Follow on Google News

Samhi Hotels IPO Subscribed 1.02 Times as Subscription Nears Closing. Image/Company Website

Strong Interest from Retail Investors

As the subscription period for the Samhi Hotels IPO approaches its close today, the IPO has garnered notable attention from investors. Samhi Hotels IPO, which opened for subscription on Thursday, September 14, has been subscribed 1.02 times so far.

Subscription Status Breakdown

Retail investors have shown significant interest in the Samhi IPO, with the retail portion being subscribed 83%. Non-Institutional Investors (NII) have subscribed 27%, while the Qualified Institutional Buyers (QIB) portion has seen a subscription of 1.47 times.

Detailed Subscription Status

As of 13:03 IST, Samhi Hotels IPO has received bids for 6,40,50,560 shares against the 6,25,29,831 shares on offer, according to data from the BSE. In the retail investors’ segment, bids have been received for 95,04,649 shares against the 1,14,34,033 shares available. Non-institutional investors have bid for 45,58,771 shares against 1,71,51,050 shares on offer. The QIB portion received bids for 4,99,87,140 shares against 3,39,44,748 shares available.

IPO Details and Utilization of Funds

The Samhi Hotels IPO is priced in the range of ₹119 to ₹126 per equity share of face value ₹1 each. The company aims to raise ₹1,370.10 crore from this public issue, with ₹1,200 crore expected from the fresh issue and ₹170.10 crore via the OFS (offer for sale) route. The lot size for Samhi Hotels IPO is 119 equity shares, with multiples of 119 equity shares thereafter.

Prior to the IPO launch, Blue Chandra Pte. Ltd. sold 10.32 million shares, or 8.4% of the company, to Madhuri Kela, the wife of renowned investor Madhusudan Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings for ₹130 crore.

Business Overview

Samhi Hotels Ltd specializes in acquiring or constructing premium hotels, followed by renovations, rebranding, and efficient management. In FY23, the company added 369 keys to its portfolio, making it the third-largest hotel owner in terms of keys. The proceeds from the fresh issue will be utilized to repay debt and for general corporate purposes.

Key IPO Dates and GMP

The Samhi Hotels IPO share allotment is expected to take place on Friday, September 22, with shares credited to Demat accounts on Tuesday, September 26. Refunds for those who do not receive shares will commence on Monday, September 25. Samhi Hotel IPO shares are set to be listed on NSE and BSE on Wednesday, September 27. The grey market premium (GMP) for Samhi IPO is +10, reflecting investors’ willingness to pay more than the issue price.

The strong interest from retail investors in the Samhi Hotels IPO and its subscription status indicate positive market sentiment surrounding the offering.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.