NEW DELHI, Sept 25:SAMHI Hotels Ltd has filed its draft papers with markets regulator Sebi to float initial public offer.
The initial public offer (IPO) comprises a fresh issue of Rs 1,100 crore and an offer for sale (OFS) of 1,91,45,624 equity shares, as per the draft red herring prospectus (DRHP).
According to market sources, the total issue size will be between Rs 1,800 -2,000 crore.
Net proceeds of the fresh issue will be utilised towards repayment /prepayment of certain indebtedness by the company and its subsidiaries besides for general corporate purposes, it added.
Kotak Mahindra Capital Company, CLSA India, DSP Merrill Lynch and Goldman Sachs will manage the offer.
As on June 30, 2019, the current portfolio of SAMHI consists of 27 operating hotels across 12 cities.
For operating its hotels, the company has a long-standing relationship with three leading hotel operators, namely Marriott, IHG and Hyatt, as per the company overview in the DRHP. (PTI)
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