Two Indian companies, SAMHI Hotels based in Gurugram and Motisons Jewellers from Jaipur, have received approval from the Securities and Exchange Board of India (SEBI) to move forward with their respective initial public offerings (IPOs).
SAMHI Hotels IPO Details: SAMHI Hotels commenced the IPO process by submitting preliminary documents to SEBI on March 31, 2023. The IPO comprises equity shares with a face value of Re 1 each, consisting of a fresh issue worth Rs 1,000 crore and an offer for sale (OFS) of 9 million equity shares by existing shareholders.
The OFS component includes the sale of up to 4.23 million equity shares by Blue Chandra Pte. Ltd., up to 2.48 million equity shares by Goldman Sachs Investments Holdings (Asia) Limited, up to 1.55 million equity shares by GTI Capital Alpha Pvt Ltd, and up to 7.39 lakh equity shares by International Finance Corporation. This OFS represents a partial exit by current shareholders to meet listing regulations.
The management of this issue is entrusted to JM Financial Limited and Kotak Mahindra Capital Company Limited, acting as the book-running lead managers, while KFin Technologies Limited serves as the registrar.
Motisons Jewellers IPO Details: Motisons Jewellers also filed their preliminary IPO documents with SEBI in March 2023. Their IPO comprises equity shares with a face value of Rs 10 each and consists solely of a fresh issue of 33.47 million equity shares, with no offer-for-sale component.
Holani Consultants Private Limited serves as the exclusive book-running lead manager for this offering, and Link Intime India Private Limited has been appointed as the registrar.