Shares of Samhi Hotels made a decent listing at the bourses on Friday. The stock, after making a modest listing at ₹130.55 against the IPO price of ₹126 on he BSE, closed at ₹143.55 — a gain of 13.92 per cent over the IPO price.
During the day, Samhi Hotels hit a high of ₹143.55. On the NSE, it listed at ₹134.50 and closed at ₹146 — up 15.87 per cent. The company raised ₹1,370.10 crore through the IPO. The issue was subscribed by 5.33 times.
IPO details
The IPO consisted of a fresh issue of shares worth ₹1,200 crore and an OFS of 1.35 crore shares by existing shareholders. Through the OFS, Blue Chandra Pte Ltd sold up to 84.28 lakh equity shares, Goldman Sachs Investments Holdings (Asia) Ltd 49.31 lakh equity shares and GTI Capital Alpha Pvt Ltd divested up to 1.4 lakh equity shares.
Ahead of the IPO, Samhi Hotels had raised ₹616.50 crore from anchor investors by allotting ₹4.89 crore at ₹126 a share. Foreign investors and domestic institutions who participated in the anchor included Government of Singapore, SBI Multicap Fund, ICICI Prudential Value Discovery Fund, Sun Life Aditya Birla India Fund, Tata MF, Singularity Growth Opportunities Fund, Think India Opportunities Master Fund, Turnaround Opportunities Fund, HSBC Global Investment Funds, Nuvama Crossover Opportunities Fund, Edelweiss Mutual Fund and Lion Global Asia Pacific Fund.
Net proceeds
The Gurguram-based company plans to use the proceeds for payment of debt and for general corporate purposes. Samhi Hotels is the largest owner of Fairfield by Marriott and Holiday Inn Express brands in India. The company’s market cap stood at ₹3,129.90 crore at the end of the day on BSE.