Fixed Price IPO | ₹28 Cr | Listed at NSE SME | Fri, Sep 27, 2024 - Tue, Oct 1, 2024
Saj Hotels IPO is a fixed price issue of ₹27.63 crores. The issue is entirely a fresh issue of 0.43 crore shares of ₹27.63 crore.
Saj Hotels IPO bidding started from Sep 27, 2024 and ended on Oct 1, 2024. The allotment for Saj Hotels IPO was finalized on Oct 3, 2024. The shares got listed on NSE SME on Oct 7, 2024.
Saj Hotels IPO price is ₹65 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,30,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,60,000.
Corpwis Advisors Pvt.Ltd. is the book running lead manager and Satellite Corporate Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is NNM Securities Pvt.Ltd..
Refer to Saj Hotels IPO RHP for detailed Information.
IPO Open
Fri, Sep 27, 2024
IPO Close
Tue, Oct 1, 2024
Issue Price
₹65 per share
Market Cap (Pre-IPO)
₹104.81 Cr
| IPO Date | 27 Sep to 1 Oct, 2024 |
| Listed on | Mon, Oct 7, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹65 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 42,50,000 shares (agg. up to ₹28 Cr) |
| Reserved for Market Maker | 2,14,000 shares NNM Securities Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 40,36,000 shares (agg. up to ₹26 Cr) |
| Net Offered to Public | 40,36,000 shares (agg. up to ₹26 Cr) |
| Share Holding Pre Issue | 1,18,75,000 shares |
| Share Holding Post Issue | 1,61,25,000 shares |
| NSE Symbol | SAJHOTELS |
| ISIN | INE00MT01022 |
Saj Hotels IPO comprises a total issue size of 42,50,000 shares. The net offer to the public is 40,36,000 shares, after excluding 2,14,000 shares allotted on a firm basis. Of the Net offer 20,18,000 (50.00%) allocated to NII 20,18,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 20,18,000 | 50.00% | 47.48% |
| Retail Shares Offered | 20,18,000 | 50.00% | 47.48% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,14,000 | 5.04% | |
| Total Shares Offered | 42,50,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,30,000 |
| Retail (Max) | 1 | 2,000 | ₹1,30,000 |
| HNI (Min) | 2 | 4,000 | ₹2,60,000 |
Incorporated in February 1981, Saj Hotels Limited operates in the hospitality industry, offering a diverse range of services, including traditional resort accommodations, villa rentals, and restaurant and bar properties. The company provides comprehensive services to ensure a memorable experience for our guests.
The company offers a range of accommodation options across various destinations, each tailored to provide comfort and convenience.
The company owns or leases three resort properties. Two are managed and operated by Saj, while one is leased to others.
The resorts are versatile event venues, capable of hosting conferences, weddings, and social events.
The company has invested 50% in My Own Rooms Dot In Private Limited, expanding its reach and diversifying its hospitality portfolio.
As of May 2024, the company has 144 employees in various departments.
Competitive Strengths
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 98.08 | 98.93 | 96.26 | 32.86 |
| Total Income | 14.55 | 12.82 | 12.88 | 8.12 |
| Profit After Tax | 3.45 | 3.56 | 1.44 | -1.20 |
| NET Worth | 17.34 | 13.17 | 8.91 | 7.54 |
| Reserves and Surplus | 77.22 | 83.25 | 79.77 | 17.49 |
| Total Borrowing | 2.92 | 6.14 | 10.54 | 9.39 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure requirements towards expansion of existing resort properties | 17.00 |
| 2 | Funding of working capital requirements of the Company | 4.00 |
| 3 | General Corporate Expenses | 3.33 |
| KPI | Jan 31, 2024 |
|---|---|
| ROE | 19.91% |
| ROCE | 26.36% |
| Debt/Equity | 0.17 |
| RoNW | 19.91% |
| PAT Margin | 24.23% |
| Price to Book Value | 5.86 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.00 | 2.32 |
| P/E (x) | 21.7 | 27.98 |
| Promoter Holding | 84.12% | 61.94% |
| Market Cap | ₹104.81 Cr. |
The Saj Hotels IPO is subscribed 5.46 times on October 1, 2024 6:19:58 PM (Day 3). The public issue subscribed 8.65 times in the retail category, [.] times in the QIB category, and 2.12 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.12 | 20,18,000 | 42,88,000 |
| Retail | 8.65 | 20,18,000 | 1,74,48,000 |
| Total | 5.46 | 40,36,001 | 2,20,44,000 |
Total Application : 8,724
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and reimbursements relating to Lead Manager fees, underwriting fees, Market Making Fee, Marketing and Selling Commission, Brokerages, payment to other intermediaries such as legal advisor, Peer Review Auditor, Registrar, Banker to the Issue, etc. | 2.95 |
| 2 | Advertising and Marketing Expenses | 0.20 |
| 3 | Regulatory and other fees | 0.05 |
| 4 | Other Expenses (including printing, stationery expenses, postage etc.) | 0.10 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹65.00 |
| Open | ₹55.00 |
| Low | ₹52.25 |
| High | ₹57.75 |
| Last Trade | ₹52.45 |
Satellite Corporate Services Pvt.Ltd.
Lead Manager Reports
Saj Hotels IPO is a SME IPO of 42,50,000 equity shares of the face value of ₹10 aggregating up to ₹28 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 2000.
The IPO opens on Fri, Sep 27, 2024, and closes on Tue, Oct 1, 2024.
Satellite Corporate Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Saj Hotels IPO using UPI as a payment gateway. Zerodha customers can apply in Saj Hotels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Saj Hotels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Saj Hotels IPO opens on Fri, Sep 27, 2024 and closes on Tue, Oct 1, 2024.
Saj Hotels IPO lot size is 2000, and the minimum amount required for application is ₹1,30,000.
You can apply in Saj Hotels IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Saj Hotels IPO will be done on Thursday, October 3, 2024, and the allotted shares will be credited to your demat account by Fri, Oct 4, 2024. Check the Saj Hotels IPO allotment status.
The Saj Hotels IPO listing date is on Mon, Oct 7, 2024.
