SAMHI Hotels shares makes soft D-st debut; lists at 7% premium of Rs 134.50

Shares of SAMHI Hotels made a tepid debut at Dalal Street on Friday as the hotel chain was listed at a premium of 7 per cent at Rs 134.50 on the National Stock Exchange (NSE), against the issue price of Rs 126. Similarly, the stock kicked-off its maiden trading session at a premium of 4% at Rs 130.55 on BSE.

A day before its listing, shares of SAMHI Hotels were seen around Rs 10 in the grey market premium (GMP), and remained a lackluster side since the beginning of the issue. The company initially was not commanding any premium in the unofficial market, the premium in the unofficial market inched to single digits.

The Rs 1,370.10 crore IPO of SAMHI Hotels was open for bidding between September 14-18 The company sold its shares in the range of Rs 119-126 apiece during the three-day bidding process and investors could make a bid of a minimum of 119 equity shares and its multiples thereafter.

The issue of SAMHI Hotels was overall subscribed 5.57 times. The allocation for qualified institutional bidders (QIBs) saw biddings for 9.18 times, while the portion for non-institutional investors fetched 1.29 times bids. The portion reserved for retail investors was booked 1.17 times at the end of bidding.
 

SAMHI Hotels, incorporated in 2010, is a professionally managed branded hotel ownership and asset management platform in India. SAMHI operates under well-recognized and reputed hotel operators such as Courtyard by Marriott, Sheraton, Hyatt Regency, Hyatt Place, Fairfield by Marriott, Four Points by Sheraton, and Holiday Inn Express.

Kotak Mahindra Capital Company and JM Financial were the lead managers to the issue, while Kfin Technologies was the registrar to the issue.


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