SAMHI Hotels IPO GMP: SAMHI Hotels’ IPO Trades with a Premium of ₹14 in the Grey Market
In good news for investors looking to profit from IPOs, SAMHI Hotels Limited’s IPO (SAMHI Hotels IPO) opened for subscription today, Thursday. Bidding for this IPO can be done until September 18th. The company has set the price band for the IPO at ₹119 to ₹126 per equity share. Investors can bid for a minimum of 119 equity shares in this IPO. Under this IPO, the company will issue new equity shares worth ₹1,200 crores. Additionally, there will be a sale of 1.35 crore shares for offer for sale (OFS). The IPO size is ₹1,370 crores, and the company is based in Gurugram.
Madhuri Madhusudan Kelaa has invested
Renowned investor Madhuri Madhusudan Kelaa has invested in SAMHI Hotels. Furthermore, Nuwama CrossOver Opportunities Fund and TIEMF Holdings have also invested in the company. JF Financial Limited and Kotak Mahindra Capital Company Limited are the lead managers for this IPO.
What is SAMHI Hotels’ GMP?
In the unlisted market, SAMHI Hotels‘ shares are trading with a premium of ₹14. This means the stock could potentially list at ₹140 per share on exchanges, with an 11.11% premium.
Share Allocation on September 22nd
The allocation of shares in SAMHI Hotels’ IPO may be completed by September 22, 2023. Successful bidders should see the shares credited to their demat accounts by September 26th. The listing of the company’s shares is expected to take place on September 27, 2023.
Reserved Categories and Allocation
SAMHI Hotels has reserved 15% of the issue size for high net worth individuals, 75% for qualified institutional buyers, and 10% for retail investors.
Utilization of IPO Proceeds
The company will use the funds raised through fresh shares to repay loans, with ₹900 crores allocated for this purpose. The remaining funds will be used to meet general corporate requirements. As of June 2023, the company had a total debt of ₹2,812.5 crores.
Investors looking to participate in this IPO should carefully consider their investment decisions and consult with financial experts if needed.
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