Saj Hotels Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Saj

CMP

50.20

+0.35 (0.70%)

  • DRHP
₹65

Offer Price

₹ 27.63 Cr

Issue Size

₹ 1,30,000

Min Investment

2,000

Lot size

Time Line

  • 27
    Sep 2024
    Open
  • 01
    Oct 2024
    Close
  • 03
    Oct 2024
    Finalisation of Basis of Allotment
  • 04
    Oct 2024
    Initiation of Refunds
  • 04
    Oct 2024
    Transfer of Shares to Demat Account
  • 07
    Oct 2024
    Listing Date

Objects of the Offer

  • Brand Expansion.

  • Sustainable Architecture.

  • Marketing Engagement.

  • Dynamic Pricing Structure.

  • Commitment to Quality Assurance.

Strengths

  • Experienced Promoters and Management Team.

  • Optimal utilization of resources.

  • Location of resort properties and quality of services provided.

  • Identifying opportunity to develop our resort properties.

  • Increasing revenue by having multiple revenue streams and complementary offerings.

Risks

  • The Company has incurred losses in the one out of the three previous financial years.

  • The Company has had negative cash flow in the past and may continue to have negative cash flows in the future.

  • The Company requires significant amount of working capital for a continued growth. Its inability to meet the company working capital requirements may have an adverse effect on its results of operations, financial condition and cash flows.

  • The Company, promoters of the Company, directors of the Company and its group companies are parties to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before the respective courts and regulatory authorities. Any adverse decision may make it or its promoters/directors or group companies liable to liabilities/penalties and may adversely affect its reputation, business, and financial status.

  • A parcel of land on which one of its resort property is constructed (Saj in the Forest, Pench) is taken on leasehold basis under a Joint Venture arrangement. If the company is unable to comply with the terms of such arrangement, its business, results of operations, financial condition and cash flows may be adversely affected.

Company Promoters

Promoters Holding

Issue For IPO
22.18%
Pre Holding

84.12%

Post Holding

61.94%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2024 3-Yr trend
Revenue 12.83 (59.20%) 12.71 (-0.90%) 14.26 (12.20%)
Gross Profit 3.57 (864.90%) 6.81 (90.80%) 6.73 (-1.20%)
Net Income 1.32 (210.00%) 3.48 (163.60%) 3.45 (-0.90%)
Assets 93.99 (208.00%) 93.16 (-0.90%) 93.44 (0.30%)
Liabilities 11.84 (11.20%) 7.53 (-36.40%) 4.34 (-42.40%)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Royale Manor Hotels & Industries Ltd 23.42 4.22 71.26 71.26 7.24 2.21 29.37 5.91 0.15
Jindal Hotels Ltd 43.17 2.40 81.95 81.95 11.28 3.43 30.40 2.93 2.52

Book Running Managers

  • Corpwis Advisors Pvt Ltd

Registrar & Transfer Agent

Satellite Corporate Services

Office No 106 & 107,
Dattani Plaza,
Andheri Safedpul - Mumbai-400072
Phone : 022-28520461/462

Company Contact Information

Saj on the Mountains Survey.18,
Mahabaleshwar Panchgani Road,
Satara - 412806
Phone : 022 6287 5252/ 022 2620 3434 Email : secretarial@sajresort.in www.sajresorts.com

Offer Related Information

Initial public issue of upto 42,50,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Saj Hotels Limited (the "Company" or the "Issuer") for cash at a price of Rs. 65/- per equity share (including a premium of Rs. 55/- per equity share) (the "Issue Price"), aggregating upto Rs. 27.63 crores (the "Issue"), of which 2,14,000 equity shares aggregating to Rs. 1.39 crores will be reserved for subscription by market maker (the "Market Maker Reservation Portion"). The issue less... More

Saj FAQ's

The shares of Saj were first listed on the stock exchanges on June 26, 2024.

The total issue size of the Saj IPO was 1,10,00,000 shares, amounting to Rs. 132 crore. they

The minimum lot size for Saj public issue was 125 shares.

The price band of the IPO of Saj was Rs. 114 to Rs. 120 per equity share.

Saj IPO is a public issue through which the company raised approximately Rs. 132 crore by issuing around 1.1 crore equity shares to the public. After a successful IPO, the company’s shares are currently listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), where they are freely traded without restrictions.

Bigshare Services Private Limited is the registrar and share transfer agent of Saj IPO.

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