SAMHI Hotels Limited’s IPO to open on September 14

Ahmedabad: SAMHI Hotels Ltd has fixed the price band at Rs 119 to Rs 126 per Equity Share for its initial public offering (“IPO”). The IPO of the Company will open on Thursday, September 14, 2023, for subscription and closes on Monday, September 18, 2023. Investors can bid for a minimum of 119 Equity Shares and in multiples of 119 Equity Shares thereafter.

The IPO comprises of fresh issuance of equity shares of up to Rs 1200 crore and an Offer for Sale by certain of its shareholders of up to 13.50 million equity shares of face value of Rs 1 each.

JM Financial Limited, and Kotak Mahindra Capital Company Limited are the book running lead managers and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.

Ahead of the launch of its initial public offering (IPO), Blue Chandra Pte. Ltd sold 10.32 million shares or 8.4% stake to renowned investor Madhusudan Kela’s wife, Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings have picked up stake in Gurugram-based SAMHI Hotels for a total consideration of Rs 130 crore. At the upper end of the price band the IPO size is Rs 1,370 crore.