Samhi Hotels, incorporated on December 28, 2010, is a leading hotel ownership and asset management platform in India. As of March 31, 2023, it boasts the third-largest inventory of operational keys (owned and leased) in the country. In just 12 years of operation, Samhi has established a portfolio of 3,839 keys spanning 25 operating hotels located in 12 of India's key urban consumption centres
| Bidding Dates |
|---|
| 14 Sep 2023 - 18 Sep 2023 |
| Subscription |
|---|
| 5.33x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,994 | 1 | 13 | 119 | 108.7 M | ₹119 - ₹126 | - | ₹12939.8 M - ₹13701.0 M | RHP DOC |
Samhi Hotels IPO SUBSCRIPTION STATUS
18 Sep '23Samhi Hotels IPO overall subscription rate was 5.33 times the total available shares
Samhi Hotels IPO retail subscription rate was 1.11 times in the retail segment
Samhi Hotels IPO non-institutional investor subscription rate was 1.22 times in the non-institutional investor category
Samhi Hotels IPO Qualified Institutional Bidder subscription rate was 8.82 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
18 Sep 2023 (Day 3) | 1.11x | 1.22x | 8.82x |
15 Sep 2023 (Day 2) | 0.58x | 0.07x | 0x |
14 Sep 2023 (Day 1) | 0.34x | 0.02x | 0x |
Samhi 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) |
| FY23 | -3,385.9 | 7,385.7 | 2,174.5 | 3,042.5 |
| FY22 | -4,432.5 | 3,227.4 | 263.1 | 263.1 |
| FY21 | -4,777.3 | 1,695.8 | 216.5 | 209.9 |
Samhi Hotels IPO SUBSCRIPTION STATUS DETAILS
Samhi Hotels had 108.7 M shares on offer
Samhi Hotels IPO offer price was in the range ₹119 - ₹126
Samhi Hotels IPO minimum Investment was ₹14994
Samhi Hotels IPO issue size was ₹ 12939.8 M - ₹ 13701.0 M
Samhi Hotels had a minimum lot size of 119 Shares per application
Samhi Hotels NUMBER OF SHARES ON OFFER
Samhi Hotels IPO IMPORTANT DATES
| Issue Open Date | 14 Sep 2023 |
| Issue close Date | 18 Sep 2023 |
| Allotment Date | 20 Sep 2023 |
| Refund Date | 21 Sep 2023 |
| Demat Account Credit Date | 22 Sep 2023 |
| Listing Date | 22 Sep 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Samhi Hotels Allotment Status | Exchange |
Samhi Hotels IPO subscription opened on 14 Sep 2023, and closed on 18 Sep 2023
IPO allotment for Samhi Hotels was finalized on Wednesday, 20 Sep 2023
IPO listing for Samhi Hotels was on NSE and BSE on Friday, 22 Sep 2023
Samhi Hotels IPO LISTING GAINS
| Issue Price (adjusted) | 126.0 |
| Listing Open Price | 134.5 |
| Listing Close Price | 143.4 |
| Listing Gain% | 6.8% |
| Current Gain% | 34.8% |
Samhi 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Samhi Hotels Ltd. | 169.8 | 3702.2 | 7.5 | 0 | 2.9 | 23 | 11.3 | 1279 | 11.2 | 503 | 488.3 | 22.7 | 411.4 |
| Indian Hotels Company Ltd. | 728.7 | 103725.5 | 48.3 | 5 | 10.4 | 16 | 10.3 | 9971.4 | 16.4 | 2084.4 | 9.3 | 15.1 | 9.7 |
| ITC Hotels Ltd. | 168.9 | 35175.2 | 40.7 | 1.5 | 8.3 | 7 | 6 | 4331.3 | 19.4 | 816.9 | 28.7 | 4.1 | 26.9 |
| EIH Ltd. | 303.2 | 18957.9 | 26.6 | 6 | 6.3 | 11.9 | 9.6 | 3105.7 | 7.9 | 628.3 | -15 | 11.4 | 4.5 |
| Chalet Hotels Ltd. | 837.1 | 18332 | 34.7 | 0.4 | 7.7 | 17.4 | 8.8 | 2812.4 | 60.3 | 645.1 | 352.5 | 24.1 | 85.3 |
| Leela Palaces Hotels & Resorts Ltd. | 507 | 16931.7 | 38.2 | 0.2 | 10.6 | 6.3 | 4.5 | 1597.8 | 13.6 | 403.1 | 742.9 | 13.3 | 236.8 |
Samhi Hotels INFORMATION ON IPO ISSUE
About Samhi Hotels
Samhi Hotels, incorporated on December 28, 2010, is a leading hotel ownership and asset management platform in India. As of March 31, 2023, it boasts the third-largest inventory of operational keys (owned and leased) in the country. In just 12 years of operation, Samhi has established a portfolio of 3,839 keys spanning 25 operating hotels located in 12 of India's key urban consumption centres
Object of the Issue
- Repayment/prepayment/redemption, in full or in part, of certain borrowings availed of by the company and its subsidiaries, including payment of the interest accrued thereon
- General corporate purposes
Samhi Hotels Book Running Lead Manager
JM Financial Limited
samhi.hotels@jmfl.com
Kotak Mahindra Capital Company Limited
samhi.ipo@kotak.com
Samhi Hotels Registrar to the Offer
KFinTechnologies Private Limited
samhihotels.ipo@kfintech.com
Samhi Hotels Strengths
Track record
The company has a track record of acquiring distressed hotels and improving their performance through renovations and rebranding
Portfolio’s scale and diversification
The company's portfolio is enhanced by sector tailwinds, with hotels in 12 major Indian cities that collectively account for about 70% of air passenger traffic and 90% of office space
Efficiency
The company has enhanced its portfolio's scale and quality through efficient hotel operations
Samhi Hotels Risks
Incurred losses
The company has faced restated losses and negative net worth recently and may do so in the future
Indebtedness
The company's debt and financing arrangements may limit its growth potential
cyclical business
The business is subject to seasonal and cyclical variations that could result in fluctuations in the results of operations
Dependent on a few hotels
A significant portion of the company's revenues come from a few hotels concentrated in specific regions
IPO FAQs
This IPO consists of an offer for sale of up to Rs 170.1 crore, of 13,500,000 shares. It also consists of a fresh issue of Rs 1,200.0 crore.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 119.0 - 126.0.
The IPO application opens on Sep 14, 2023 and closes on Sep 18, 2023.
The minimum lot size for the IPO is 119. The maximum lot size for the IPO is 1547.
For all category investors, the minimum application amount for this IPO is Rs. 14,994.0, the maximum value for this IPO is Rs 194,922.0.
This IPO will be allotted on Sep 20, 2023.
The refund will be credited to your account on Sep 21, 2023.
The allotted shares will be credited to your demat on Sep 22, 2023.
Samhi Hotels Ltd.’s shares listed on the stock exchanges on Sep 22, 2023.