SAMHI Hotels Files Draft Papers For IPO
A room inside a hotel. (Photographer: Akio Kon/Bloomberg)  

SAMHI Hotels Files Draft Papers For IPO


SAMHI Hotels Ltd. has filed its draft papers with the Securities and Exchange Board of India to float an initial public offer.

The IPO comprises a fresh issue of Rs 1,100 crore and an offer for sale of 1,91,45,624 equity shares, as per the draft red herring prospectus.

According to market sources, the total issue size will be between Rs 1,800 -2,000 crore.

Net proceeds of the fresh issue will be utilised towards repayment /prepayment of certain indebtedness by the company and its subsidiaries besides for general corporate purposes, it added.

Kotak Mahindra Capital Company, CLSA India, DSP Merrill Lynch and Goldman Sachs will manage the offer.

As on June 30, the current portfolio of SAMHI consists of 27 operating hotels across 12 cities.

For operating its hotels, the company has a long-standing relationship with three leading hotel operators, namely Marriott, InterContinental Hotels Group and Hyatt, as per the company overview in the DRHP.

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