Samhi Hotels & Motisons Jewellers Gets SEBI Nod To Raise Funds Through IPO

The capital markets regulator, the Securities and Exchange Board of India (SEBI), has given its final approval for Gurugram-based SAMHI Hotels and Jaipur-based Motisons Jewellers to seek funds through an initial public offering (IPO). On March 31, 2023, Samhi Hotels submitted preliminary IPO documents to Sebi. The issue, which has a face value of Rs. 1 per equity share, consists of a fresh issuance for Rs. 1,000 crore and an offer for sale (OFS) of 9 million equity shares by selling shareholders.

Blue Chandra Pte. Ltd. will offload up to 4.23 million equity shares in the offer for sale (OFS), Goldman Sachs Investments Holdings (Asia) Limited will sell up to 2.48 million equity shares, GTI Capital Alpha Pvt. Ltd. will sell up to 1.55 million equity shares, and International Finance Corporation will offload up to 7.39 lakh equity shares.

The company stated that it would use the net proceeds of the fresh issue, which totalled 750 crore, to cover outstanding debt and for basic company requirements.

The issue's book-running lead managers are JM Financial Limited and Kotak Mahindra Capital Company Limited, while KFin Technologies Limited is the registrar.

In March 2023, Motisons Jewellers submitted its initial public offering (IPO) paperwork to Sebi.

The issue of 33.47 million equity shares, having a face value of Rs 10, is a completely fresh issue; there is no offer-for-sale component. Holani Consultants Private Limited is the sole book-running lead manager to the issue and Link Intime India Private Limited is the registrar.

The company will use the net proceeds from the issuance to cover its outstanding debt, meet working capital needs, and support other general corporate objectives.

Samhi Hotels and Motisons Jewellers' shares will debut on the NSE and BSE platforms.