Saj Hotels Lists at ₹55, Offering 15% Discount in Disappointing Market Debut – Full Details Inside!Saj Hotels Lists at ₹55, Offering 15% Discount in Disappointing Market Debut – Full Details Inside!

Saj Hotels had a disappointing stock market debut on October 7, listing at Rs 55 on the NSE SME platform, which is a 15% discount from its issue price of Rs 65 per share.

Saj Hotels’ IPO, a fresh issue of 425 lakh shares with an issue size of Rs 27.63 crore, saw limited interest, being subscribed only 5 times. Retail investors subscribed 8.6 times their quota, while non-institutional investors picked up 2 times. Qualified institutional buyers stayed out.

Saj Hotels operates in the hospitality industry, offering a range of services across B2B, B2B2C, and B2C segments, from resort accommodations to villa rentals and dining options. The company emphasizes guest satisfaction with food and beverage services, recreational facilities, and event hosting, ensuring memorable experiences for visitors and providing comprehensive planning for events like conferences and weddings.

The objective of Saj Hotels’ IPO is to raise Rs 27.63 crore through a fresh issue of 425 lakh shares, primarily aimed at funding business expansion, working capital requirements, and general corporate purposes to support future growth.