About Company’s Business:
They represent a prominent hotel ownership and asset management platform in India, ranking third in terms of operational keys (both owned and leased) in the country as of March 31, 2023, according to the JLL Report. Remarkably, they have achieved this status within just 12 years of commencing their business operations. Their impressive portfolio comprises 3,839 keys distributed across 25 operational hotels situated in 12 of India’s major urban consumption hubs. These cities include Bengaluru (Karnataka), Hyderabad (Telangana), National Capital Region, Pune (Maharashtra), Chennai (Tamil Nadu), and Ahmedabad (Gujarat), all as of March 31, 2023. All of their hotels fall within the Upper Upscale, Upscale, Upper Mid-scale, and Mid-scale hotel segments. Notably, they operate their hotels through enduring management contracts with globally renowned hotel operators such as Marriott, Hyatt, and IHG.
About the Industry:
The Indian travel and tourism sector is poised for robust demand growth from 2019 to 2028, with a notable compound annual growth rate (CAGR) of 10.35%. This growth is closely intertwined with the economic expansion in India, benefiting the hospitality industry directly. Key drivers include rapid urbanization, the expanding office market, a rising trend in domestic travel, lower setup costs compared to other developed and developing nations, supportive initiatives from the Government of India, and the availability of a well-established talent pool. These factors collectively generate a substantial demand for the hospitality sector in the foreseeable future. With a surge in domestic consumption and consistent GDP growth underpinning this trend, the Indian hospitality industry has experienced strong capacity utilization in recent quarters of the 2023 fiscal year, as outlined in the JLL Report.
Key Financial Information (â‚ą in lakhs):
| March 31, 2023 | March 31, 2022 | March 31, 2021 | |
|---|---|---|---|
| Equity Share Capital | 85.33 | 76.27 | 76.27 |
| Net Worth(1) | (8,714.33) | (7,026.27) | (2,592.76) |
| Total Income(2) | 7,614.20 | 3,331.04 | 1,792.50 |
| - Revenue from Operations | 7,385.70 | 3,227.43 | 1,695.80 |
| - Other Income | 228.50 | 103.61 | 96.70 |
| Restated Loss for the Year | (3,385.86) | (4,432.53) | (4,777.27) |
| Earnings/(Loss) per Equity Share (Basic) | (43.93) | (58.12) | (62.64) |
| Earnings/(Loss) per Equity Share (Diluted) | (43.93) | (58.12) | (62.64) |
| Net Asset Value per Equity Share(5) | (113.07) | (92.12) | (33.99) |
| Total Borrowings(6) | 27,875.40 | 25,976.89 | 24,244.01 |
| - Current Financial Liabilities – Borrowings | 6,346.95 | 2,191.03 | 5,164.02 |
| - Non-Current Financial Liabilities – Borrowings | 20,552.81 | 23,742.21 | 18,706.29 |
| - Interest Accrued on Borrowings | 975.64 | 43.65 | 373.70 |
Note: â‚ą in million, unless otherwise specified
Objective of the Issue:
- Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed of by the Company and its Subsidiaries including payment of the interest accrued thereon
- General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Thursday, September 14, 2023 |
| Close Date | Monday, September 18, 2023 |
| Issue Size | â‚ą1,370.10 crores |
| Price | â‚ą119 to â‚ą126 per share |
| Lot Size | 119 Shares |
| Basis of Allotment | Friday, September 22, 2023 |
| Initiation of Refunds | Monday, September 25, 2023 |
| Credit of Shares to Demat | Tuesday, September 26, 2023 |
| Listing Date | Wednesday, September 27, 2023 |
Note: The dates are tentative.
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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