Reported By: Mohammad Haris
Last Updated: September 18, 2023, 19:20 IST
Samhi Hotels IPO: 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 Rs 1,370-crore initial share sale received bids for 33,30,05,911 shares against 6,25,29,831 shares on offer, as per NSE data.
The portion for Qualified Institutional Buyers (QIBs) received 8.82 times subscription while the quota for non-institutional investors got 1.22 times subscription.
The category for retail individual investors was subscribed 1.11 times.
Samhi Hotels IPO GMP
According to market observers, the grey market premium of Samhi Hotels currently stands at Rs 3. It means the grey market is expecting just Rs 3 listing gain. The Rs 3 GMP is 2.38 per cent higher that its issue price of Rs 129 per share. Importantly, GMP of unlisted shares keeps changing based on the sentiments in the market.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Samhi Hotels IPO
The IPO had a fresh issue of up to Rs 1,200 crore and offer for sale of up to 13,500,000 equity shares.
Price range for the offer was at Rs 119-126 a share.
Gurugram-based Samhi Hotels earlier said it mopped up Rs 616.54 crore from anchor investors.
In a pre-IPO placement, external investor Blue Chandra had sold 10.32 million shares, or 8.4 per cent of its stake, to renowned investor Madhusudan Kela’s wife Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total consideration of Rs 130 crore.
Samhi acquires and builds primary hotels and thereafter renovates, rebrands and rerates the property and runs it.
JM Financial and Kotak Mahindra Capital Company were the managers to the offer.