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Chalet Hotels Limited is likely to introduce its IPO to get listed on both of the Exchange i.e. Bombay Stock Exchange and National Stock Exchange. All interested clients can fetch all important information as Price Band and Dates of the IPO, Company Profile, Allotment Status, Listing Dates etc. The firm has drafted a Red Herring Prospectus and got approval for the same from the Regulator SEBI (Securities Board of India).

The IPO is scheduled for january 29, 2019 with a price band of Rs. 275- Rs. 280 per equity share. The lot size of applying the IPO is for 53 shares. One can apply via ASBA to avail the benefit of listing this IPO.

Company profile:-

The company was incorporated as “Kenwood Hotels Private Limited” on January 6, 1986. It was promoted by Individual Promoters Shri Ravi C. Raheja, Shri Neel C. Raheja and Corporate Promoters viz. K Raheja Corp Pvt. Ltd., K Raheja Pvt. Ltd., Ivory Properties & Hotels Pvt. Ltd., Genext Hardware & Parks Pvt. Ltd., Touchstone Properties & Hotels Pvt. Ltd., Cape Trading LLP, Capstan Trading LLP, Casa Maria Properties LLP, Anbee Constructions LLP, Palm Shelter Estate Developers LLP, Raghukool Estate Development LLP and Ivory Property Trust.

Positive Outlook of the Firm:-

  • CHL endeavor to build their hotels of superior standards targeting the luxury-upper upscale and upscale hotel segments at an efficient gross built up area and development cost per key. Their hotel platform comprises 5 operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of September 30, 2018. Their hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments, according to the Horwath Report.
  • Company’s hotels are currently branded with global brands such as JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance and Four Points by Sheraton which are held by Marriott Hotels India Pvt. Ltd. and its affiliates (collectively “Marriott”). Currently, their hotel at Vashi, Navi Mumbai, is operated by them under a license agreement with Marriott, and 4 of their hotels, including their serviced  residence, are operated pursuant to hotel operation and related agreements with Marriott.
  • The company follows an active asset management model for their hotels operated by third parties, pursuant to which they closely monitor, and exercise regular oversight over the performance of their hotel properties.
  • The shares will be listed on BSE and NSE.

 

Objects Of The Issue:-

The object of the offer are:

  • Repayment/pre-payment of certain indebtedness
  • General corporate purposes

Summary Of Issue:

Issue Period Issue Opens On*: Tuesday, January 29, 2019

Issue Closes On: Thursday, January 31, 2019

*The Anchor Investor Bidding Date shall be on 28th January 2019

Issue Details Fresh Issue  of Equity Shares aggregating upto Rs.950 Cr

+ Offer for Sale of 24,685,000 Equity Shares

Issue Size (Rs. Cr) Rs.1,628.84~ Cr – Rs.1,641.18^ Cr
Price Band Rs.275 – 280
Bid Lot 53 Equity Shares and multiple thereof
Issue Structure :  
QIB 50% of the offer (up to 29,615,226^ – 29,306,785~ Equity Shares ) (Rs.814.42~Cr – 820.59^ Cr)
NIB 15% of the offer (up to   8,884,569^  –    8,792,036~ Equity Shares) (Rs.244.33~ Cr – 246.18^ Cr)
Retail 35% of the offer (up to 20,730,659^ – 20,514,750~ Equity Shares) (Rs.570.09~ Cr – 574.41^ Cr)
~ Lower Price Band and ^Upper Price Band
Mode of Payment ASBA Mandatory ( No Cheque will be accepted)

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

BRLMs Axis Capital and JM
Registrar Karvy Computershare Pvt. Ltd.

 


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Chalet Hotels Limited IPO Subscription Details

Category No.of shares offered/reserved No. of shares bid for No. of times of total meant for the category
Qualified Institutional Buyers (QIBs)
Non Institutional Investors
Retail Individual Investors(RIIs)
Employees
Total

 


 

Important dates for Chalet Hotels Limited Allotment Status

Chalet Hotels Limited IPO allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced. Important Tantatives dates for Chalet Hotels Limited IPO are:

  • The Allotment date for Chalet Hotels Limited IPO issue is expected on January 29, 2019.
  • The amount will get unblocked on January 31, 2019.
  • The Shares are expected to credit in DP accounts on January 31, 2019.
  • The Shares of Chalet Hotels Limited  is likely to get listed on January 31, 2019. on both BSE and NSE.

 


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Check Chalet Hotels Limited IPO Allotment Status

Chalet Hotels Limited IPO allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.

One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-

  1. To Check Chalet Hotels Limited  IPO Allotment Status
  2. Go to Application Status
  3. Select IPO as Chalet Hotels Limited 
  4. Enter your PAN Number or Application Id or DP Client Id.

 

It takes little time to fetch information so you need to be little patient.

 

Download “Chalet Hotels Limited” IPO Application Form

From BSE: click here

 


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Promoters Of the Company:-

The Promoters of the company are Ravi C Raheja, Neel C Raheja and K Raheja Corp Pvt Ltd. The Promoters hold, in the aggregate, 171,095,293 Equity Shares which constitutes 100.00 % of the Company’s pre-Offer paid-up Equity Share capital.

Financials:- 

Brief Financial Details*                                                                                       (Rs. In Cr)

Particulars As at March 31,
2018(12) 2017(12) 2016(12)~
Share Capital 171.10 152.14 152.14
Reserves 331.27 319.03 369.07
Net worth as restated 502.37 471.17 521.21
Long Term Borrowings 2,215.15 2,050.58 1,902.28
Short Term Borrowings 163.42 324.75 258.32
Revenue from Operations (Gross) 873.78 705.88 572.94
Revenue Growth (%) 21.22% 26.59%
Adj. EBITDA as stated 350.15 430.83 155.89
Adj. EBITDA % as stated # 37.67% 46.60% 26.09%
Profit Before Tax 21.19 79.12 (166.00)
Profit After Tax# 31.16 127.44 (112.49)
PAT as % to revenue 3.57% 18.05%
EPS (Rs.) 1.82 7.97 (7.39)
RONW(%) 6.20% 27.05%
Net Asset Value (Rs.) 29.36 29.20 33.99

Source: RHP, * Restated Consolidated,   ~Proforma Ind AS

# after adjusting Deferred Tax Credit;  #  Adj.EBITDA % calculated on Total Revenue


Book Running Lead Managers Details:-

1) Axis Capital Ltd

2) JM Financial Ltd

3)Morgan Stanley India Company Pvt Ltd

For More Details Contact us 011-42445800 / 9650901058

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