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

CMP

217.55

+0.10 (0.05%)

  • DRHP
₹126

Offer Price

₹ 1,370.10 Cr

Issue Size

₹ 14,994

Min Investment

5.33x

Times Subscribed

119

Lot size

Time Line

  • 14
    Sep 2023
    Open
  • 18
    Sep 2023
    Close
  • 22
    Sep 2023
    Finalisation of Basis of Allotment
  • 25
    Sep 2023
    Initiation of Refunds
  • 26
    Sep 2023
    Transfer of Shares to Demat Account
  • 22
    Sep 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Position its Hotels to Benefit from Favorable Demand Trends in the Sector and Enhance Operating Efficiencies.

  • Complete Development of Identified Opportunities that are Currently Under Development.

  • Integrate ACIC Portfolio to Improve Financial Performance.

  • Pursue Growth Opportunities via Programmatic Capital Deployment and Tactical M&A.

  • Ensure Disciplined Capital Allocation and Reduction of Debt.

Products & Services

  • The Company is a prominent branded hotel ownership and asset management platform in India.

Strengths

  • The Company`s ability to acquire dislocated hotels and demonstrated track record to re-rate hotel performance through renovation and/or rebranding;

  • Its portfolio`s scale and diversification further enhanced by sector tailwinds;

  • Its track record to manage hotels efficiently;

  • Its ability to create operating efficiencies and long-term performance using analytics tools;

  • Its strong governance and seasoned management team.

Risks

  • The company is not in compliance with certain covenants under certain of its financing agreements in the past, and in case of any breach of covenants in the future, such non-compliance, if not waived, could adversely affect its business, results of operations and financial condition.

  • The company indebtedness and the conditions and restrictions imposed by its financing arrangements may limit the company ability to grow its business.

  • The company has entered into hotel operator services agreements and other related agreements with Marriott, Hyatt and IHG (and their affiliates) to receive operating and marketing services for its hotels. The ACIC SPVs have entered into franchise agreements and brand license agreements with Marriott for the license of Marriott`s brand name. If these agreements are terminated or not renewed, its business, results of operations and financial condition may be adversely affected.

  • A significant portion of its revenues are derived from a few hotels and from hotels concentrated in a few geographical regions and any adverse developments affecting such hotels or regions could have an adverse effect on its business, results of operation and financial condition.

  • If the company is unable to realize the anticipated growth opportunities and synergies from the assets its acquire, including from the Proposed ACIC Acquisition (as defined below) or any other acquisition that its may undertake in the future, its business, financial condition, cash flows and results of operations may be adversely affected.

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 322.74 (90.30%) 738.57 (128.80%) 738.57 (0.00%)
Gross Profit 322.74 (90.30%) 738.57 (128.80%) 738.57 (0.00%)
Net Income 322.74 (90.30%) 738.57 (128.80%) 738.57 (0.00%)
Assets 322.74 (90.30%) 738.57 (128.80%) 738.57 (0.00%)
Liabilities 322.74 (90.30%) 738.57 (128.80%) 738.57 (0.00%)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Samhi Hotels Ltd 738.57 -338.59 1,973.26 2,780.91 0.00 -39.68 -94.65 0.85 1.39
Chalet Hotels Ltd 1,128.47 183.33 4,930.78 4,930.78 12.31 8.94 72.58 3.71 1.75
Lemon Tree Hotels Ltd 874.99 114.56 3,732.32 3,732.32 13.41 1.45 17.86 3.06 2.04
Indian Hotels Co Ltd 5,809.91 1,002.59 13,668.75 13,668.75 12.56 7.06 60.84 7.33 0.10
EIH Ltd 2,018.81 314.58 4,406.96 4,406.96 9.32 5.19 55.52 7.13 0.02

Book Running Managers

  • JM Financial Ltd
  • Kotak Mahindra Capital Company Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

Caspia Hospitals Delhi Dist.CC,
Outer Ring Rd Shalimar Bagh,
New Delhi - 110088
Phone : 91-11-3981 3500 Email : compliance@samhi.co.in www.samhi.co.in

Offer Related Information

Initial public offering of 108,738,095* equity shares of face value of Re. 1 each ("Equity Shares") of Samhi Hotels Limited ("Company" or the "Issuer") for cash at a price of Rs. 126 per equity share (including a share premium of Rs. 125 per equity share) (the "Offer Price") aggregating to Rs. 1370.10* crores (the "Offer") comprising a fresh issue of 95,238,095* equity shares aggregating to Rs. 1200.00 crores ("Fresh Issue") and an offer for sale of 13,500,000 equity shares (the "Offered... More

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