Saj Hotels Limited IPO Message Board (Page 2)

Allotment out - https://www.satellitecorporate.com/ipo-query.php

0/1 Retail

Any update on allotment?

Only through message from the bank (Kotak - ASBA).

Amount debited

Allotment?!?!??

Skipped....

Season of SMEs is there. Very unfortunate that maximum SMEs have no GMP or negligible GMP. Today 2 SMEs closed. Both these are of small size I.e. 27 crs. and.33 crs.
Most surprising fact about these are the views of Mr. D D.
1. Saj Hotels APPLY. subscription very very poor and GMP zero. One of the lowest subscription figures. Retailers have faith with 8.65x. NII 2.12%. No quota for QIB.
2. HVAX Tech. MAY APPLY. Subscribed in good number. QIB 14x, NII 77x, Retail 26x. GMP as good as nothing.
Both the companies have good share holding of more than 61% equity post this issue. Both with fresh equity issue.
As far the subscription figures are concerned, investors have different sources to be aware of these SMEs.
No main line IPO is there, so funds are flowing in the accounts. Sometimes I feel that :

**It is better to be away from those who intentionally misguide investors and feel no regret.**

**Emphasize on strategic thinking as a foundation for informed decision making.**

Celebrate * GANDHI JAYANTI*, the Birthday of Mahatma Gandhi, the Father of Nation.

Have a stress free tomorrow.

BE THE CHANGE THAT YOU WANT TO SEE

Unfortunately Skipped this one...
Hope it lists well with NIL GMP..
Keep Applying &
Happy Investing!!!

Not applied

You all will regret it a lot. There is no debt on the company. The company is good and will get good returns.

Following last 10 years...but casually 😂

Bad lm

Jinko sme ipo me ab tak loss nahi hua hai vo yaha try kar sakte hain 😆🤕

जिनकी फूटी किस्मत है उनकों तो यह भी नहीं मिल पायेगा....

​@RAJU GURJAR Isme to 2-3 retail lot me hi mil jayega,agar isme bhi na mile to ipo se sanyas le lena chahiye aise logo ko.
.

Although I'm bullish on hosptality, I'm skipping this. Looks very risky but all the best to allottees.

You are right @Crow . All I can say is that it serves me right. I'll be more careful in future and follow your posts very closely.

How many lot you got in wareee

Applied 1 Retail.
Wish to get allotment :)

AVOID

Apply only for risk takers

Avoided..
Though, I have stayed in their property at Mahabaleshwar and it was quite nice for pure veggies.

Atithi devo bhavo.. ke naam par bhar dete..😀

Changed my plan and avoided finally

विरासत में मिली हुई हर चीज पर दावा नहीं करना चाहिए
ठीक वैसे ही हर IPO में अप्लाई नहीं करना चाहिए..😜

​@Tejas Pandya Waise hum aapki rawayat ko follow karte hai😉🙀

​@Simply Vicky 👍🏼

FIXED PRICE ISSUE.......BIG SKIPPING

Aag se khelnewalo ke liye laya gaya hai yah ipo, profit hua to TAJ hotel me 2 nights 1 day enjoy, agar loss hua to SAJ hotel me cook ban janeka roj aag se khalne ka mauka milega

Both LM/MM have tepid record. Issue expenses again on the higher end around 12%. Again a hastily drafted prospectus, too many things left out and mistakes made. Company also has filed some revised info to clarify figures in RHP. Promoter holding post issue is close to 62%. And again a fixed price issue.

Co. is into hospitality sector (hotels, villas, guests room, restaurants) etc. Promoter background is diverse and not particular for this hotel industry and having other exposure to metal biz. They have 3 properties in Mahabaleshwar (Mahindra Leased), Pench, Malshej and some hotels in Goa with total 130 rooms across all facilities. Mahabaleshwar property only has lease revenue which is around 35% of total revenues which gets directly transferred from Mahindra to Saj. Malshej property experienced some rainfall damage to make some rooms non operational causing dent in financials for FY24. Pench property is near by forest area and tiger zone but without any lease or ownership acquired in FY23. Around 144 employees on payroll and almost all of KMP have changed in FY24.

IPO proceeds around 17 cr is for capex to add 46 rooms (20 in Malshej, 26 in Pench). No completion timeline mentioned for these. 4 cr is for working capital which projects near 19 cr revenues. Working capital estimates have shot up receivable days from 1 to 45 days FY25, so without clarity on new rooms and receivables recovery, the calculations look valid only on paper. Some discrepancy again reported in collaborations done to run restaurants on sub lease. Cash flow from operations is however positive. IPO price is near 30 P/E. Peers shown are to grab eye balls to reflect similar scale of fluctuating operations like Saj Hotels.

The asking price, eagerness to bring in the IPO visible from RHP, and inappropriate utilisation of issue proceeds, no clarity on villa and 2BHK, 3BHK room expansions; all make it a wait and watch bet. This sector has no entry barriers and already has better, known and performing listed players so its tough to digest such set of operations. Property in Pench can again be prone to litigations from forest dept., if any. Medium to long term bets is more fruitful after the rooms are ready and operational.

Thanks again for the clear and concise summary. Are you thinking of applying? I find it a low return highly risky bet.

Not applying @KrishnaJii

Subscription pathetic till now.