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.
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.|
(*) indicates to be updated
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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)|
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:-
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
Open Your Demat Account to Invest in Upcoming IPO’s
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.
Brief Financial Details* (Rs. In Cr)
|Particulars||As at March 31,|
|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%||–|
|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
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