Samhi Hotels, Motisons Jewellers Get Green Light From SEBI To Float IPO – News18

The Securities and Exchange Board of India (SEBI) has given the green light to Samhi hotels and Jaipur-based retail jewellery company Motisons Jewellers to raise funds through an initial public offering (IPO). An IPO is the process when a private company sells its first shares of stock to the general public. In other words, it means that the company’s ownership is changing from private to public. Earlier in March this year, the two private firms re-filed their preliminary papers with SEBI and obtained its observation letters from August 28-31, an update with SEBI was shown on Tuesday. Then finally, SEBI accepted the proposal to launch the initial share sale.

As per the draft papers, Samhi Hotels has now proposed an IPO consisting of fresh equity shares worth Rs 1,000 crore and an offer for sale (OFS) of 90 lakh equity shares by existing shareholders. The OFS of Samhi Hotels includes the sale of Rs 42.36 lakh equity shares by Blue Chandra Pte Ltd, up to Rs 24.78 lakh equity shares by Goldman Sachs Investments Holdings (Asia) Ltd, up to Rs 15.47 lakh equity shares by GTI Capital Alpha Pvt Ltd, and up to Rs 7.39 lakh equity shares by International Finance Corporation.

Samhi Hotels is the largest owner of Fairfield Marriott and Holiday Inn Express in India. It has been operating under a contract with global hotel operators like Marriot, Hyatt, and IHG.

On the other hand, the IPO of Jaipur-based jewellery retail company Motisons Jewellers included Rs 3.34 crore in new equity shares. According to reports, there is no offer for sale (OFS) component in their IPO. They will be using the net proceeds from the issue for the repayment of borrowings that they had made from commercial banks for working capital requirements and general running purposes.

The shares of both, Smahi Hotels and Motisons Jewellers will be listed on BSE and NSE.

Apart from these two, another company that is soon turning into an IPO is EMS Ltd. This company is related to sewage and water infrastructure. It has been reported that the company will go public from September 8–12. They have also released a price range of Rs 200 to Rs 211.