Samhi Hotels limited re-files IPO papers with SEBI
Samhi Hotels Ltd has re-filed primary papers with capital requests controller Sebi to raise finances through an original public immolation (IPO). The IPO comprises fresh issue of equity shares worth Rs1,000 crore and an offer- for- trade (OFS) of 90 lakh equity shares by being shareholders, according to the draft red herring prospectus (DRHP).
The OFS consists of trade of 42.36 lakh equity shares by Blue Chandra Pte Ltd, over to 24.78 lakh equity shares by Goldman Sachs Investments effects (Asia) Limited, over to 15.47 lakh equity shares by GTI Capital Alpha Pvt Ltd, and over to 7.39 lakh equity shares by International Finance Corporation. It’s a partial exit by the being shareholders to meet the table regulations.
JM Financial Ltd and Kotak Mahindra Capital Company Ltd are the book- running lead directors for the issue, and KFin Technologies Ltd is the register. before, the company had filed its IPO papers with the Securities and Exchange Board of India (Sebi) in September 2019 and had attained the requests controller blessing in November 2019, to float the original share- trade but the company didn’t go ahead with the launch.
The Gurugram- grounded company may consider a private placement of equity shares adding up up to Rs 200 crore in pre-IPO placement. However, the fresh issue size will be reduced, If similar placement is completed. The company will use net proceeds of the fresh issue to the tune of Rs 750 crore towards payment of debt and for general commercial purposes.
Samhi has a portfolio of 3,839 keys spread across 25 operating hotels in 12 of India’s major civic consumer capitals, including Bangalore, Hyderabad, National Capital Region (NCR), Pune, Chennai, and Ahmedabad as of February 28, 2023. Last week, Samhi entered into a list share subscription and purchase agreement with Asiya Capital and ACIC SPVs to acquire 962 keys across six operating hotels and land to make a 350- key hotel in MIDC, Navi Mumbai.
With the accession, Samhi will get access to new metropolises like Jaipur and will ameliorate its force and request share in Hyderabad, Pune, Chennai, and Ahmedabad. In addition, it plans to add two fresh hospices and 617 keys in being metropolises as well as two new metropolises, Kolkata and Navi Mumbai, adding its presence to 14 crucial civic consumption centers.
As of February 2023, it’s the largest proprietor of the Fairfield by Marriott and Holiday Inn Express brands in India. It operates under long- term operation contracts with global hostel drivers like Marriott, Hyatt, and IHG. For the fiscal time ended March 2022, the company reported an increase of 90 per cent in profit to Rs322.74 crore, as against Rs169.58 crore in the former financial.
About Samhi Hotels Ltd
SAMHI is a prominent branded hotel ownership and asset management platform in India with an institutional ownership model, experienced leadership and professional management team. SAMHI has long-term management arrangement with three of the established and well recognized global hotel operators, namely, Marriott, IHG and Hyatt. SAMHI has a portfolio of 25 operating hotels comprising 3,839 keys and has a diverse geographic presence in 12 cities across India, including National Capital Region (NCR), Bengaluru, Hyderabad, Chennai and Pune. SAMHI has 1 hotel under development with a total of 111 keys in Kolkata.
SAMHI has adopted an acquisition led strategy which is underpinned by its track record of acquiring and successfully turning around hotels to grow its business. SAMHI’s hotels operate under established and well-recognised hotel operator brands such as Courtyard by Marriott, Sheraton, Hyatt Regency, Hyatt Place, Fairfield by Marriott, Four Points by Sheraton and Holiday Inn Express, which provide its hotels access to the operator’s loyalty programs, management and operational expertise, industry best practices, online reservation systems and marketing strategies.
SAMHI was incorporated in 2010, and counts Sam Zell led Equity International, GTI Capital, International Finance Corporation amongst its shareholders.