Saj Hotels Ltd. was incorporated on February 4, 1981. The company operates in the hospitality industry, offering B2B, B2B2C, and B2C services, including resorts, villa rentals, and restaurants. They provide comfortable accommodations, dining options, personalized concierge services, spa facilities, and recreational activities for a memorable guest experience
| Bidding Dates |
|---|
| 27 Sep 2024 - 01 Oct 2024 |
| Subscription |
|---|
| 5.17x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,30,000 | 1 | 1 | 2000 | 4.3 M | ₹65 | 61.95 % | ₹276.3 M | RHP DOC |
Saj Hotels Ltd. IPO SUBSCRIPTION STATUS
01 Oct '24Saj Hotels Ltd. IPO overall subscription rate was 5.17 times the total available shares
Saj Hotels Ltd. IPO retail subscription rate was 8.22 times in the retail segment
Saj Hotels Ltd. IPO non-institutional investor subscription rate was 2.12 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
01 Oct 2024 (Day 3) | 8.22x | 2.12x | - |
30 Sep 2024 (Day 2) | 2.25x | 0.33x | - |
27 Sep 2024 (Day 1) | 1x | 0.23x | - |
Saj Hotels Ltd. 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) | Margins |
| FY24 | 34.5 | 142.6 | 47.5 | 36.4 | 45.8% |
| FY23 | 35.6 | 127.1 | 76.7 | 11.8 | 25.4% |
| FY22 | 14.4 | 128.3 | 33.2 | -8.9 | 32.1% |
| FY21 | -12.0 | 80.6 | 47.4 | 37.9 | 22.2% |
Saj Hotels Ltd. IPO SUBSCRIPTION STATUS DETAILS
Saj Hotels Ltd. had 4.3 M shares on offer
Saj Hotels Ltd. IPO offer price was ₹65
Saj Hotels Ltd. IPO minimum Investment was ₹130000
Saj Hotels Ltd. IPO issue size was ₹ 276.3 M
Saj Hotels Ltd. had a minimum lot size of 2000 Shares per application
Saj Hotels Ltd. NUMBER OF SHARES ON OFFER
Saj Hotels Ltd. IPO IMPORTANT DATES
| Issue Open Date | 27 Sep 2024 |
| Issue close Date | 01 Oct 2024 |
| Allotment Date | 03 Oct 2024 |
| Refund Date | 04 Oct 2024 |
| Demat Account Credit Date | 04 Oct 2024 |
| Listing Date | 07 Oct 2024 |
| Listing on Exchange(s) | NSE |
| Saj Hotels Ltd. Allotment Status | Exchange |
Saj Hotels Ltd. IPO subscription opened on 27 Sep 2024, and closed on 01 Oct 2024
IPO allotment for Saj Hotels Ltd. was finalized on Thursday, 03 Oct 2024
IPO listing for Saj Hotels Ltd. was on NSE on Monday, 07 Oct 2024
Saj Hotels Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 65.0 |
| Listing Open Price | 55.0 |
| Listing Close Price | 52.5 |
| Listing Gain% | -15.4% |
| Current Gain% | -33.9% |
Saj Hotels Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Saj Hotels Ltd. | 43 | 69.3 | 25 | -0.9 | 4.1 | 2.3 | 1.9 | 20.2 | 12.1 | 2.8 | -29.3 | 1.7 | -29.3 |
| 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 |
| Chalet Hotels Ltd. | 859.7 | 18826.9 | 35.6 | 0.4 | 7.9 | 17.4 | 8.8 | 2812.4 | 60.3 | 645.1 | 352.5 | 24.1 | 85.3 |
| 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 |
Saj Hotels Ltd. INFORMATION ON IPO ISSUE
About Saj Hotels Ltd.
Saj Hotels Ltd. was incorporated on February 4, 1981. The company operates in the hospitality industry, offering B2B, B2B2C, and B2C services, including resorts, villa rentals, and restaurants. They provide comfortable accommodations, dining options, personalized concierge services, spa facilities, and recreational activities for a memorable guest experience
Object of the Issue
- Funding of working capital requirements of the company
- To meet working capital requirements
- General corporate purposes
Saj Hotels Ltd. - PROMOTERS
| Name |
|---|
| Rahul Maganlal Timbadia |
| Kartik Maganlal Timbadia |
| Karna Kartik Timbadia |
Saj Hotels Ltd. Lead Manager of the Issue
Corpwis Advisors Private Limited
ipo@corpwis.com
Saj Hotels Ltd. Registrar to the issue
Satellite Corporate Services Private Limited
service@satellitecorporate.com
Saj Hotels Ltd. Strengths
Geographical advantage
The company resorts offer breathtaking views of stunning natural landscapes, including majestic mountains, lush valleys, and crystal-clear lakes. This unique backdrop fosters a meaningful connection with nature, enhancing customer loyalty and distinguishing the resort in the market
Diverse revenue streams
Beyond room bookings, the resorts offer amenities like restaurants, spas, and wedding services. This diversification helps mitigate seasonal fluctuations and create memorable experiences for guests, boosting profitability and reputation
Community integration
The company actively engages with local communities to foster a symbiotic relationship. By supporting artisans, sourcing products locally, and hiring talent with over 50% of their workforce coming from the local community at both hotel properties, it enhances the local economy and enriches guests' experiences
Saj Hotels Ltd. Risks
Dependant on third party vendors
A portion of resort bookings comes from online travel agents and intermediaries. If these companies gain market share over direct bookings or if competitors negotiate better terms with them, the business and its operational results may be adversely affected
Development of resort properties
The company faces risks related to the development of its resort properties. Delays in construction or higher-than-expected costs for new projects or expansions could negatively impact its business, operational results, financial condition, and cash flows
Working capital
The company requires significant working capital for continued growth. Failing to meet these needs could negatively impact its operations, financial condition, and cash flows
IPO FAQs
The promoters of the company are Rahul Maganlal Timbadia, Kartik Maganlal Timbadia and Karna Kartik Timbadia.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 65.0 - 65.0.
The IPO application opens on Sep 27, 2024 and closes on Oct 01, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 130,000.0, the maximum value for this IPO is Rs 130,000.0.
This IPO will be allotted on Oct 03, 2024.
The refund will be credited to your account on Oct 04, 2024.
The allotted shares will be credited to your demat on Oct 04, 2024.
Saj Hotels Ltd.’s shares listed on the stock exchanges on Oct 07, 2024.