SAMHI Hotels gets SEBI’s nod for IPO.

SAMHI Hotels has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise an estimated Rs 1,800-2,000 crore through an Initial Public Offering (IPO).

The company, which filed the draft red herring prospectus with the SEBI in September, got the regulator’s approval on November 29. The funds will be utilized towards repayment /prepayment of certain indebtedness by the company and its subsidiaries besides for general corporate purposes. The book running lead managers to the issue are Kotak Mahindra Capital Company, CLSA India, DSP Merrill Lynch and Goldman Sachs.

SAMHI is one of India’s leading and fastest growing hotel owner and asset manager with a portfolio of 27 operating hotels comprising 4,048 keys across India. The firm’s assets have a diverse geographical presence spanning 12 of India’s key urban consumption centers, including Delhi, Bengaluru, Hyderabad, Chennai and Pune.

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