Samhi Hotels IPO: Muted response seen on 2nd day of bidding, subscribed 11%.

Introduction:

Samhi Hotels IPO: The firm, which is supported by illustrious investors Equity International, ACIC Mauritius, and Goldman Sachs, plans to raise Rs. 1,370.1 crore through an IPO at the higher price band.

On September 14, the public offering day, 7 percent of the shares were subscribed.

Investor support for Samhi Hotels’ initial public offering has not been particularly strong thus far. Samhi Hotels is a well-known branded hotel ownership and asset management platform in India. On September 15, the second day of bidding, participants bought 66.75 lakh shares, or 11% of the offer size of 6.25 crore shares.

Retail investors continued to support the offer the most, subscribing for 52%

Of the reserved shares (10% of the IPO size), while high net worth individuals (non-institutional investors), who were allocated 15% of the shares, only received 4% of the available shares.Only 0.005 percent of the allowed quota, or 75% of the offer size, has been purchased by qualified institutional buyers (QIB). On September 12, the day before the issue’s opening, anchor investors had already fully subscribed for 60% of the QIB.

Government of Singapore, Monetary Authority of Singapore, CLSA, HSBC Global, Citigroup, Society Generals SBI Mutual Fund, ICICI Prudential, Aditya Birla Sun Life Trustee, and Elara India Opportunities Fund are examples of anchor investors that have purchased 4.89 billion shares at the upper price band for a total of Rs 616.54 billion.The price range for the September 14th-opened offer is Rs. 119–126 per share.

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The post Samhi Hotels IPO: Muted response of bidding appeared first on ASWGROUPINDIA.