IPO: Goldman Sachs-backed SAMHI Accommodations might refile DRHP for Rs 1,900 crore IPO

NEW DELHI: Lodge building and funding corporate SAMHI is ready to record a revised draft purple herring prospectus (DRHP) and has appointed bankers, other people with wisdom of the advance instructed ET.

In 2019, the Goldman Sachs and Fairness Global subsidized corporate filed a DRHP with the marketplace regulator to lift round Rs 1,900 crore via an preliminary public providing, however the plan used to be shelved because of the pandemic.

Samhi declined to remark. ET digital request to JM Monetary and

remained unanswered till e-newsletter.

SAMHI has greater than 4,000 rooms in 27 energetic lodges in Delhi, Bangalore, Hyderabad, Chennai and Pune, in line with data on its web page. The corporate works with lodge chains comparable to Marriott, InterContinental Accommodations Crew (IHG) and Hyatt.

SAMHI’s major shareholders are Fairness Global (49% stake), Goldman Sachs (29%) and GTI Capital Crew (18%).

In November 2021, ET reported that SAMHI used to be in talks with distressed asset investor Cerberus Capital to lift Rs 1,000 crores of structured debt. The proceeds had been for use to pay off the corporate’s current loans. On the time, SAMHI’s consolidated debt used to be round Rs 2,200 crore.

The corporate filed a DRHP with EBITDA of Rs 109 crore in 2019. Other folks accustomed to the subject say the corporate has posted a robust restoration and believes the majority of its lodges are doing higher than they did in 2019.

The SAMHI web page says that two lodges with 223 rooms are beneath development in Kolkata and Mumbai.

In April 2019, SAMHI introduced the a success rebranding of 10 IHG ​​lodges to the Vacation Inn Categorical emblem with a Rs 100 crore funding in markets comparable to Ahmedabad, Pune, Chennai, Nashik and Bangalore.

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