1) Size of Saj Hotels IPO
The IPO is completely a fresh equity issue of 42.5 lakh shares and through the issue, the company plans to raise Rs 27.6 crore.
2) Saj Hotels IPO Price Band
The company is offering its shares at Rs 435 to Rs 458 each and investors can bid for 300 shares in 1 lot.
3) Saj GMP Hotels
On the unlisted market, the company’s shares had no GMP before the opening of the broadcast.
4) About Saj Hotels
The company offers a diverse portfolio of business-to-business (B2B), business-to-business-to-customer (B2B2C) and business-to-customer (B2C) hospitality offerings, ranging from traditional resort accommodations to villa and restaurant rentals. and bar properties.
5) Industry Overview
He Indian hotel market including domestic, inbound and outbound, was estimated at $32 billion in FY20 and is expected to reach $52 billion in FY27.
6) Financial performance of Saj Hotels
For the year ended March 2024, the company posted a total revenue of Rs 14.25 crore and a net profit of Rs 3.45 crore.
7) Objects of the offer
The net proceeds from the public offering will be used for expansion of existing property, funding working capital requirements and other general corporate purposes.
8) Senior Managers and Registrar
Corpwis Advisors acts as senior manager to the issue and Satellite Corporate Services is the registrar.
9) Structure of the problem
Approximately 50% of the offering is reserved for retail investors and the remaining 50% for other investors.
10) Important dates
The initial public offering opened on September 27 and will close on October 1. The final allocation will probably be made on October 3. The company’s shares will likely be listed on October 7.
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