Samhi Hotels IPO debuts nearly 7% higher on stock exchanges 

Samhi Hotels listing: Samhi Hotels Ltd's shares made a strong debut on Friday, opening nearly 7 per cent higher compared to the issue price of Rs 126. The stock made its debut on the BSE at Rs 130.55, representing a gain of 3.61 per cent over the issue price. It further climbed during trading, reaching Rs 133, a gain of 5.55 per cent. Over at the NSE, the stock began trading at Rs 134.50, with a substantial increase of 6.74 per cent.

As a result of these gains, the initial market valuation of Samhi Hotels Ltd stood at Rs 2,791.94 crore during early trading. In the broader equity market, the 30-share BSE benchmark was trading 82.47 points lower at 66,147.77, while the Nifty was down by 33.15 points at 19,709.20.

IPO subscription 

Samhi Hotels' Initial Public Offering (IPO) garnered strong investor interest and was oversubscribed 5.33 times on the final day of bidding, which concluded on Monday.

The IPO, valued at Rs 1,370 crore, had set a price range for the offer between Rs 119 and Rs 126 per share. It consisted of a fresh issue of up to Rs 1,200 crore and an offer for sale of up to 13,500,000 equity shares.

Samhi Hotels, headquartered in Gurugram, specialises in acquiring and developing primary hotels. Subsequently, the company renovates, rebrands, and upgrades these properties, ultimately managing their operations.

(With PTI Inputs)