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Samhi Hotels receives INR 617-Cr from anchor investors

Samhi Hotels announced that it received INR 616.54 crore from anchor investors ahead of its initial share sale.  According to a circular uploaded on the BSE website, the company has allocated 4,89,32,143 equity shares to 35 entities at an average price of INR 126 each.  

SBI Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, Tata MF, Elara India Opportunities Fund, Singapore Government, Monetary Authority of Singapore, Societe Generale, Segantii India Mauritius, D E Shaw Valence International (SPV) LLC, Lion Global Asia Pacific Fund and Citigroup Global Markets Mauritius Pvt Ltd are among the anchor investors.

Gurugram-based Samhi Hotels set the price band on Monday for its INR 1,370 crore primary share sale, which begins on Thursday, at INR 119–126 per share.   

The Initial Public Offering (IPO) comprises fresh issuance of equity shares worth up to INR 1,200 crore and an Offer For Sale (OFS) of up to 1.35 crore shares.  

In a pre-IPO placement, external investor Blue Chandra sold 10.32 million shares, or 8.4% of its holdings, to Madhuri Kela, the wife of renowned investor Madhusudan Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total consideration of Rs 130 crore.

JM Financial and Kotak Mahindra Capital Company are the book-running lead managers to the issue.

Samhi acquires or builds major hotels, then renovates, rebrands, and rerates the property before operating it. It has been in business for 13 years and added 369 keys in FY23, making it the third-largest hotel owner by key count. It currently has 4,800 keys spread across 31 operating hotels, including its most recent acquisition of ACIC last month.  

It has land to build a 350-key hotel in MIDC, Navi Mumbai.

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