Saj Hotels Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹65
Per ShareLot Size
2000 Shares
Minimum Investment
₹1,30,000
Issue Size
₹27.63 Cr
Face Value
₹10
Per ShareIPO Type
Fixed Price - SME
Retail Quota
50%
QIB Quota
0%
NII Quota
50%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Saj Hotels Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
84.12%
Promoter Holding (Post-Issue)
61.94%
Issue Type
Fixed Price - SME
ISIN
INE00MT01022
About the Company
Our company is engaged in Hospitality industry. We provide a diverse portfolio of Business-to-Business (B2B), Business-toBusiness-to-Customer (B2B2C) and Business-to-Customer (B2C) hospitality offerings, spanning from traditional resort accommodation to villa rentals and restaurant and bar properties. We focus on providing comprehensive services to guests, including food and beverage options, recreational facilities and event hosting capabilities, reflecting a commitment to ensuring a memorable experience for our visitors.
Industry Overview
It is widely acknowledged that the tourist and hospitality sector, which encompasses travel and hospitality services like resorts and restaurants, is a development agent, a catalyst for socioeconomic growth, and a significant source of foreign exchange gains in many countries. The consistent efforts of the central and state governments have helped the tourism industry to recover from the Covid-19 pandemic shock and operate at the pre-pandemic level. The Indian hotel market including domestic, inbound and outbound was estimated at ~US$ 32 billion in FY20 and is expected to reach ~US$ 52 billion by FY27. As per the Ministry of Tourism, Foreign Tourist Arrivals (FTAs) in March 2023 were 795,827 as compared to 342,308 in March 2022 and 978,236 in March 2019 registering a growth of 132.5% and -18.6% with respect to 2023 and 2019 respectively.
Company History
Saj Hotels Limited was, originally, incorporated as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated February 4, 1981 bearing Corporate Identity no. U55101PN1981PTC023814 issued by Registrar of Companies, Maharashtra at Bombay. Subsequently our Company was converted from a private limited company to Public Limited Company pursuant to Special Resolution passed at the Extra-ordinary General Meeting by the shareholders of the Company on October 5, 2023 and the name of our Company was changed to `Saj Hotels Limited'. A fresh certificate of incorporation consequent to conversion was issued on November 3, 2023 by the Registrar of Companies, Pune bearing Corporate Identity Number U55101PN1981PLC023814.
Growth Strategy
- Brand Expansion.
- Sustainable Architecture.
- Marketing Engagement.
- Dynamic Pricing Structure.
- Commitment to Quality Assurance.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public issue of upto 42,50,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Saj Hotels Limited (the "Company" or the "Issuer") for cash at a price of Rs. 65/- per equity share (including a premium of Rs. 55/- per equity share) (the "Issue Price"), aggregating upto Rs. 27.63 crores (the "Issue"), of which 2,14,000 equity shares aggregating to Rs. 1.39 crores will be reserved for subscription by market maker (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. issue of 40,36,000 equity shares of face value of Rs. 10/- each at an issue price of Rs. 65/- per equity share aggregating to Rs. 26.23 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.36% and 25.03% respectively of the post-issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each and the issue price of Rs. 65/-, which is 6.5 times of the face value.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Experienced Promoters and Management Team.
- Optimal utilization of resources.
- Location of resort properties and quality of services provided.
- Identifying opportunity to develop our resort properties.
- Increasing revenue by having multiple revenue streams and complementary offerings.
- The Company has incurred losses in the one out of the three previous financial years.
- The Company has had negative cash flow in the past and may continue to have negative cash flows in the future.
- The Company requires significant amount of working capital for a continued growth. Its inability to meet the company working capital requirements may have an adverse effect on its results of operations, financial condition and cash flows.
- The Company, promoters of the Company, directors of the Company and its group companies are parties to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before the respective courts and regulatory authorities. Any adverse decision may make it or its promoters/directors or group companies liable to liabilities/penalties and may adversely affect its reputation, business, and financial status.
- A parcel of land on which one of its resort property is constructed (Saj in the Forest, Pench) is taken on leasehold basis under a Joint Venture arrangement. If the company is unable to comply with the terms of such arrangement, its business, results of operations, financial condition and cash flows may be adversely affected.