As per disclosures made by SAMHI, selling shareholder, Blue Chandra Pte. Ltd sold 10.32 million shares or an 8.4% stake at an issue price of Rs 126 per equity share on September 6 and 8.
This share sale is subject to a lock-in-period and is over and above the offer for sale of 13,50,000 equity shares in the initial public offering by selling shareholders i.e Blue Chandra Pte Ltd, Goldman Sachs Investment Holdings (Asia) Ltd and GTI Capital Alpha Pvt Ltd.
As per the addendum to the RHP dated September 5, Madhuri Madhusudan Kela purchased 23,80,952 shares at a consideration for Rs 30 crore, Nuvama purchased 55,55,556 shares at Rs 69.9 crore and TIMF Holdings purchased 23,80,952 shares at a consideration of Rs 30 crore.
SAMHI’s IPO opens on September 14 and closes on Sept 18. The company stated it completed the acquisition of 6 additional properties at Jaipur, Hyderabad, Pune, Chennai and Ahmedabad on August 10 this year taking its property count to 31 operating hotels and 4,801 keys.
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It has entered the MMR market with a land parcel at hand at MIDC, Navi Mumbai to develop a 350 keys hotel.
The company’s other expansion plans include two additional hotels and 617 keys in existing cities as well as two new cities, Kolkata and Navi Mumbai, Maharashtra increasing its presence to 14 key urban consumption centers.
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