Mumbai-based Chalet Hotels Limited is a company engaged in the business of owning, developing and asset management of high-end hotels in major metro cities across India. It is a part of K. Raheja Corp group which is a leading business group in the country.
| Bidding Dates |
|---|
| 29 Jan 2019 - 31 Jan 2019 |
| Subscription |
|---|
| 1.57x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,840 | 1 | 13 | 53 | 58.6 M | ₹275 - ₹280 | 71.41 % | ₹16118.7 M - ₹16411.8 M | RHP DOC |
Chalet Hotels IPO SUBSCRIPTION STATUS
31 Jan '19Chalet Hotels IPO overall subscription rate was 1.57 times the total available shares
Chalet Hotels IPO retail subscription rate was 0.03 times in the retail segment
Chalet Hotels IPO non-institutional investor subscription rate was 1.1 times in the non-institutional investor category
Chalet Hotels IPO Qualified Institutional Bidder subscription rate was 4.66 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
31 Jan 2019 (Day 3) | 0.03x | 1.1x | 4.66x |
30 Jan 2019 (Day 2) | 0.01x | 0.47x | 0.63x |
29 Jan 2019 (Day 1) | 0x | 0.3x | 0.01x |
Chalet Hotels FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 6MFY19 | -436.7 | 4,698.7 | 1,486.9 | 1,371.1 |
| FY18 | 311.6 | 8,737.8 | 2,489.1 | 1,880.0 |
| FY17 | 1,274.4 | 7,058.8 | 2,012.2 | 873.3 |
| FY16 | -1,124.9 | 5,729.4 | 793.4 | -976.1 |
| FY15 | -1,263.9 | 4,405.6 | -123.0 | -3,314.9 |
| FY 14 | -993.8 | 4,576.2 | 932.8 | -1,960.2 |
Chalet Hotels IPO SUBSCRIPTION STATUS DETAILS
Chalet Hotels had 58.6 M shares on offer
Chalet Hotels IPO offer price was in the range ₹275 - ₹280
Chalet Hotels IPO minimum Investment was ₹14840
Chalet Hotels IPO issue size was ₹ 16118.7 M - ₹ 16411.8 M
Chalet Hotels had a minimum lot size of 53 Shares per application
Chalet Hotels NUMBER OF SHARES ON OFFER
Chalet Hotels IPO IMPORTANT DATES
| Issue Open Date | 29 Jan 2019 |
| Issue close Date | 31 Jan 2019 |
| Allotment Date | 05 Feb 2019 |
| Refund Date | 06 Feb 2019 |
| Demat Account Credit Date | 07 Feb 2019 |
| Listing Date | 07 Feb 2019 |
| Listing on Exchange(s) | NSE and BSE |
| Chalet Hotels Allotment Status | Exchange |
Chalet Hotels IPO subscription opened on 29 Jan 2019, and closed on 31 Jan 2019
IPO allotment for Chalet Hotels was finalized on Tuesday, 05 Feb 2019
IPO listing for Chalet Hotels was on NSE and BSE on Thursday, 07 Feb 2019
Chalet Hotels IPO LISTING GAINS
| Issue Price (adjusted) | 280.0 |
| Listing Open Price | 291.0 |
| Listing Close Price | 290.4 |
| Listing Gain% | 3.9% |
| Current Gain% | 207.0% |
Chalet Hotels Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chalet Hotels Ltd. | 859.7 | 17625.9 | 35.6 | 0.4 | 7.9 | 17.4 | 8.8 | 2812.4 | 60.3 | 645.1 | 352.5 | 24.1 | 85.3 |
| Indian Hotels Company Ltd. | 731 | 104052.9 | 48.5 | 5 | 10.4 | 16 | 10.3 | 9971.4 | 16.4 | 2084.4 | 9.3 | 15.1 | 9.7 |
| ITC Hotels Ltd. | 170.6 | 35546 | 41.1 | 1.5 | 8.3 | 7 | 6 | 4331.3 | 19.4 | 816.9 | 28.7 | 4.1 | 26.9 |
| EIH Ltd. | 306.6 | 19170.5 | 26.9 | 6 | 6.3 | 11.9 | 9.6 | 3105.7 | 7.9 | 628.3 | -15 | 11.4 | 4.5 |
| Leela Palaces Hotels & Resorts Ltd. | 518 | 17299 | 39 | 0.2 | 10.8 | 6.3 | 4.5 | 1597.8 | 13.6 | 403.1 | 742.9 | 13.3 | 236.8 |
| Ventive Hospitality Ltd. | 599.9 | 14010.2 | 29.2 | 0.2 | 5.6 | 7.7 | 4 | 2666.1 | 59.4 | 425.6 | 253.8 | 20.5 | 134 |
Chalet Hotels INFORMATION ON IPO ISSUE
About Chalet Hotels
Mumbai-based Chalet Hotels Limited is a company engaged in the business of owning, developing and asset management of high-end hotels in major metro cities across India. It is a part of K. Raheja Corp group which is a leading business group in the country.
Object of the Issue
- Repayment/pre-payment of certain indebtedness
- General corporate purposes
Chalet Hotels - PROMOTERS
| Name |
|---|
| Neel C Raheja |
| K Raheja Corp Pvt Ltd |
Chalet Hotels Book Running Lead Manager
JM Financial Limited
Axis Capital Limited
Morgan Stanley India Company Private Limited
Chalet Hotels Registrar to the Offer
Karvy Computershare Private Limited
Chalet Hotels Strengths
Luxury upscale properties located in major metro cities
The company has high-end Branded Hotels Strategically Located in Key Metro Cities of India
An active asset management model
The company follows an active asset management model for four of its hotels, including a hotel with a co-located serviced residence
Chalet Hotels Risks
Rely on third parties
The company utilizes the brands of third party licensors, and rely on third parties for the quality of services at hotels
Revenues are derived from a few hotels
Significant portion of revenues are derived from a few hotels and from hotels concentrated in a few geographical regions
IPO FAQs
This IPO consists of an offer for sale of up to Rs 691.2 crore, of 24,685,000 shares. It also consists of a fresh issue of Rs 950.0 crore.
The promoters of the company are Neel C Raheja and K Raheja Corp Pvt Ltd.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 275.0 - 280.0.
The IPO application opens on Jan 29, 2019 and closes on Jan 31, 2019.
The minimum lot size for the IPO is 53. The maximum lot size for the IPO is 689.
For all category investors, the minimum application amount for this IPO is Rs. 14,840.0, the maximum value for this IPO is Rs 192,920.0.
This IPO will be allotted on Feb 05, 2019.
The refund will be credited to your account on Feb 06, 2019.
The allotted shares will be credited to your demat on Feb 07, 2019.
Chalet Hotels Ltd.’s shares listed on the stock exchanges on Feb 07, 2019.