SAMHI Hotels files for Rs 2,000 crore IPO

SAMHI Hotels files for Rs 2,000 crore IPO
26/09/2019 , by , in News/Views

SAMHI Hotels has filed its draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).

As per the DRHP, the fresh issue will be of Rs 1,100 crore and the Offer for Sale (OFS) will be of 19,145,624 equity shares. The net proceeds of the fresh issue is towards repayment/pre-payment of certain indebtedness by the company and its subsidiaries besides general corporate purposes.

The book running lead managers (BRLMs) to the issue will be Kotak Mahindra Capital Company, CLSA India, DSP Merrill Lynch and Goldman Sachs. While the total issue size will depend upon the price discovery, market sources have estimated it to be anywhere between 1,800-2,000 crore.

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