The Indian government recently reduced corporate taxes and the goods and services tax on hotel rates. Credit: Markus Spiske on Unsplash

Samhi Hotels, which owns the largest number of Marriott and IHG -operated hotels  in India, has plans to raise up to $154.82m through an initial public offering (IPO).

It expects to raise this money through the issuance of new shares.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Existing shareholders are also planning to sell up to 19.1 million shares in the offering, reported The Economic Times.

Blue Chandra and Goldman Sachs Investments Holdings (Asia) are planning to shed about 15 million shares in total, according to its prospectus.

Samhi expects to use part of the proceeds from the IPO to reduce its debt.

According to a Moneycontrol report in May, the hotel company planned to raise up to Rs20bn through an IPO in the second half of this year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company’s filing comes just days after the government reduced the goods and services tax on hotel rates and corporate taxes.

The filing also comes after $230m share sale by Chalet Hotels earlier this year.

Samhi also revealed in the filing that it may also plan to raise up to Rs4bn in a rights issue to either current shareholders or through a private placement.

The book running lead managers to the IPO are Kotak Mahindra Capital, CLSA India, DSP Merrill Lynch and Goldman Sachs (India) Securities.

As on 30 June, the hotel company had 27 operating hotels with 4,048 rooms.

Spread across 12 cities, the hotels were of Marriott, IHG and Hyatt brands.

Its hotels are located in Bengaluru, Hyderabad, Delhi, Chennai and Pune.

Currently, it has two hotels under development with a combined 223 rooms – one in Kolkata and Mumbai.

The Kolkata hotel will be commissioned by September next year, while the Mumbai hotel by March 2021.