SAMHI Hotels Ltd, a leading player in the branded hotel ownership and asset management sector in India, on Wednesday (September 13) said it has raised Rs 616.50 crore from anchor investors as it gears up for its forthcoming initial public offering (IPO).

The IPO is set to open for public subscription on Thursday, September 14, 2023.

In a circular uploaded on the BSE website, SAMHI Hotels said it has allocated a total of 48,932,143 shares at a price of Rs 126 per share to anchor investors. These anchor investors represent a diverse group of both foreign and domestic institutions.

Prominent names among the anchor investors include the Government of Singapore, SBI Multicap Fund, ICICI Prudential Value Discovery Fund, Sun Life Aditya Birla India Fund, Tata Mutual Fund, 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.

Notably, out of the total allocation to anchor investors, 18,138,394 equity shares were allocated to five domestic mutual funds through ten schemes, amounting to Rs 228.54 crore, constituting 37 percent of the total anchor book size.

The IPO of SAMHI Hotels Ltd is being managed by JM Financial Limited and Kotak Mahindra Capital Company Ltd, serving as the book-running lead managers, while KFin Technologies Ltd is the Registrar to the Offer. The equity shares are slated to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

IPO Details:

The public issue of the face value of Rs 1 per equity share consists of a fresh issue of equity shares worth up to Rs 1,200 crore and an offer-for-sale (OFS) of up to 13.50 million equity shares by selling shareholders, it informed in a statement.

SAMHI Hotels intends to kick off its IPO on Thursday, September 14, 2023, with a closing date of Monday, September 18, 2023. The price band for the offering has been set at Rs. 119 – Rs. 126 per equity share, potentially raising Rs. 1,370 crore at the upper end of the price band.

Interested investors can bid for a minimum of 119 equity shares, with subsequent bids in multiples of 119 equity shares.

The IPO will follow the Book Building Process, with at least 75 percent of the offering earmarked for Qualified Institutional Buyers (QIBs), up to 15 percent available for Non-Institutional Investors, and a maximum of 10 percent allocated to Retail Individual Investors.