Saj Hotels IPO Subscribed 3.43 Times So Far On Day Three
The grey market premium (GMP) of Saj Hotels IPO was nil as of 12:30 p.m. on Tuesday, indicating a possible flat listing.
The initial public offering of Saj Hotels Ltd. has been subscribed over three times so far on Tuesday, its final day of bidding. The IPO was subscribed 1.34 times on Monday and 0.67 times on Friday.
Saj Hotels IPO is a fixed-price public offer, consisting entirely of a fresh issue of 42.5 lakh shares worth Rs 27.63 crore. Investors can apply for shares in this NSE SME IPO till Tuesday evening.
The price band of the offering is set at Rs 65 apiece. Retail investors can bid in the public offer with a minimum lot size of 2,000 shares, aggregating to an investment of Rs 1,30,000.
The company has appointed Satellite Corporate Services Pvt. as the registrar for its issue.
Corpwis Advisors Pvt. is serving as the book-running lead manager, while NNM Securities Pvt. is acting as the market maker for the SME IPO.
The allotment of shares in the Saj Hotels IPO will be finalised on October 3. This will be followed by the crediting of shares into the Demat account of successful bidders and the initiation of refunds for non-allottees on October 4.
Shares of Saj Hotels are scheduled to be listed on the NSE SME platform, Emerge, tentatively on Oct. 7.
Saj Hotels IPO Subscription Status: Day Three
The IPO has been subscribed 3.31 times as of 2:00 p.m. on Tuesday.
Qualified Institutions: nil.
Non-institutional investors: 0.98 times.
Retail investors: 5.73 times.
Saj Hotels IPO GMP Today
The grey market premium (GMP) of Saj Hotels IPO was nil as of 12:30 p.m. on Tuesday, indicating a possible flat listing. However, investors must note that GMP is highly speculative and not an official listing price.
Saj Hotels Ltd. plans to use the proceeds from the public offer for capital expenditure on the expansion of its resort properties. Further, a part of the money will be used for working capital requirements and general corporate purposes.
About Saj Hotels
Saj Hotels Ltd. operates in the hospitality industry, offering traditional resort accommodations, villa rentals and restaurant and bar properties. The company, incorporated in 1981, presently owns three resort properties. Two are managed and operated by Saj Hotels Ltd., while one is leased out.
The company has invested in My Own Rooms Dot In Pvt., expanding its reach and diversifying its hospitality portfolio.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
