Indicated by: Mohammed Haris
Last updated: Sep 18, 2023 7:20 PM IST
IPO of Samhi Hotels: The initial public offering (IPO) of Samhi Hotels, which opened for public subscription on September 14, was subscribed 5.33 times on the last day of bidding on Monday. The initial share sale of Rs 1,370 crore saw bids received for 33,30,05,911 shares against 6,25,29,831 shares offered, according to NSE data.
The portion for Qualified Institutional Buyers (QIBs) received 8.82 times the subscription rate, while the quota for non-institutional investors received 1.22 times the subscription rate.
The private retail investor category was subscribed 1.11 times.
Samhi Hotels IPO GMP
According to market observers, Samhi Hotels’ gray market premium currently stands at Rs 3. This means the gray market expects only Rs 3 advertising profit. The Rs 3 GMP is 2.38 percent higher than the issue price of Rs 129 per share. Importantly, the GMP of unlisted shares is constantly changing based on market sentiment.
The ‘gray market premium’ indicates that investors are willing to pay more than the issue price.
About the IPO of Samhi Hotels
The IPO had a fresh issue of up to Rs 1,200 crore and an offer for sale of up to 13,500,000 shares.
The price band for the offer was Rs 119-126 per share.
Gurugram-based Samhi Hotels earlier said it had cleared Rs 616.54 crore from major investors.
In a pre-IPO placement, third-party investor Blue Chandra had sold 10.32 million shares, or 8.4 percent of its stake, to Madhusudan Kela’s wife Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total consideration of Rs . 130 crores.
Samhi acquires and builds the main hotels and renovates, rebrands and revalues the property and then runs it.
JM Financial and Kotak Mahindra Capital Company were the managers of the offer.
