SAMHI Hotels IPO subscribed 5.33 times on last day of bidding

SAMHI Hotels IPO: The Initial Public Offering (IPO) of SAMHI Hotels was subscribed 5.33 times on the final day of bidding. The IPO received bids for 33,30,05,911 shares against the 6,25,29,831 shares that were available for subscription, according to data from the National Stock Exchange (NSE).

IPO subscription details  

The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 8.82 times, the portion set aside for non-institutional investors was booked 1.22 times and the pie set aside for retail individual investors was subscribed 1.11 times.

About the IPO

The company raised Rs 1,370 crore from the IPO which consisted of a fresh issue of up to Rs 1,200 crore and an offer for sale (OFS) of up to 13,500,000 equity shares worth Rs 170 crore. The price range for the offer was set at Rs 119-126 per share.

SAMHI Hotels, headquartered in Gurugram, had previously raised Rs 616.54 crore from anchor investors. In a pre-IPO placement, external investor Blue Chandra had sold 10.32 million shares, equivalent to 8.4 per cent of its stake, to notable investor Madhusudan Kela's wife, Madhuri Kela, in addition to Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total consideration of Rs 130 crore.

SAMHI Hotels specialises in acquiring and developing primary hotels, followed by renovation, rebranding, and repositioning of the properties, after which it manages them.

JM Financial and Kotak Mahindra Capital Company served as the managers of the IPO.