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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