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Chalet Hotels Limited IPO is a book built issue of Rs 1,641.18 crores. The issue comprises of fresh issue of Rs 950.00 crore and offer for sale of 2.47 crore shares.
Chalet Hotels Limited IPO bidding started from January 29, 2019 and ended on January 31, 2019. The allotment for Chalet Hotels Limited IPO was finalized on Tuesday, February 5, 2019. The shares got listed on BSE, NSE on February 7, 2019.
Chalet Hotels Limited IPO price band is set at ₹275 to ₹280 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,840.
Axis Capital Limited, Jm Financial Limited and Morgan Stanley India Company Pvt Ltd are the book running lead managers of the Chalet Hotels Limited IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Chalet Hotels Limited IPO RHP for detailed information.
| IPO Date | January 29, 2019 to January 31, 2019 |
| Listing Date | February 7, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹275 to ₹280 per share |
| Lot Size | 53 Shares |
| Total Issue Size | 58,613,571 shares (aggregating up to ₹1,641.18 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹950.00 Cr) |
| Offer for Sale | 24,685,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 171,095,293 |
| Share holding post issue | 205,023,864 |
Chalet Hotels Limited IPO offers 41,326,672 shares. 11,711,444 (28.34%) to QIB, 8,884,569 (21.50%) to NII, 20,730,659 (50.16%) to RII. 391,144 RIIs will receive minimum 53 shares and (sNII) and (bNII) will receive minimum 742 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 11,711,444 (28.34%) | NA |
| NII (HNI) Shares Offered | 8,884,569 (21.50%) | |
| Retail Shares Offered | 20,730,659 (50.16%) | 391,144 |
| Total Shares Offered | 41,326,672 (100%) |
Chalet Hotels Limited IPO opens on January 29, 2019, and closes on January 31, 2019.
| IPO Open Date | Tuesday, January 29, 2019 |
| IPO Close Date | Thursday, January 31, 2019 |
| Basis of Allotment | Tuesday, February 5, 2019 |
| Initiation of Refunds | Wednesday, February 6, 2019 |
| Credit of Shares to Demat | Thursday, February 7, 2019 |
| Listing Date | Thursday, February 7, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 31, 2019 |
Investors can bid for a minimum of 53 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,840 |
| Retail (Max) | 13 | 689 | ₹192,920 |
| Lot Size Calculator | |||
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.
K Raheja Corp was incorporated in 1979and is primarily engaged in the business Hotels and real estate.
| Share Holding Pre Issue | 100% (171,095,293 Equity Shares) |
| Share Holding Post Issue | At least 10% of the post-Offer paid-up Equity Shar |
Incorporated in 1986, Mumbai based Chalet Hotels Limited is a company engaged in the business of owning, developing and asset management of high-end hotels in major metro cities across India. It is a part of K. Raheja Corp group which is a leading business group in the country.
The company's hotels are currently branded with global hospitality brands such as JW Marriott, Westin, Marriott, Marriott Executive Apartments etc. Its hotel platform includes 5 operating hotels located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru.
The total revenue of the company was Rs 9,295.14 million for 2018, and the total revenue grew at a CAGR of 14.83% between 2014 and 2018.
Competitive Strengths of the Company
1. Luxury upscale properties located in major metro cities
2. Part of K. Raheja Corp group
3. An active asset management model
| Particulars | For the year/period ended (in Rs. Million) | ||||
|---|---|---|---|---|---|
| 30-Sep-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | |
| Total Assets | 37,388.22 | 38,300.39 | 37,379.91 | 35,529.46 | 34,401.52 |
| Total Revenue | 4,970.43 | 9,295.14 | 9,245.37 | 5,975.61 | 4,670.55 |
| Profit After Tax | -436.69 | 311.60 | 1,274.38 | -1,124.89 | -1,263.91 |
The Issue consists of a fresh issue and an Offer for Sale. The Company will not receive any proceeds from the Offer for Sale and all such proceeds will go to the Selling Shareholder.
The objects of the fresh Issue are-
1. Repayment/pre-payment of certain indebtedness
2. General corporate purposes
[Dilip Davda] Currently hospitality sector is witnessing subdued sentiment. This company has shown loss for first half that raises concern. Considering these, risk savvy cash surplus investors may consider investment at their own risk. Read detail review...
The Chalet Hotels Limited IPO is subscribed 1.57 times on January 31, 2019 6:00:00 PM. The public issue subscribed 0.03 times in the retail category, 4.66 times in the QIB category, and 1.10 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 4.66 |
| NII | 1.10 |
| Retail | 0.03 |
| Total | 1.57 |
| Listing Date | February 7, 2019 |
| BSE Script Code | 542399 |
| NSE Symbol | CHALET |
| ISIN | INE427F01016 |
| Final Issue Price | ₹280 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹280.00 |
| ₹291.00 |
| ₹250.15 |
| ₹295.30 |
| ₹290.40 |
| NSE |
|---|
| ₹280.00 |
| ₹291.00 |
| ₹250.00 |
| ₹300.00 |
| ₹291.70 |
Chalet Hotels Limited
Raheja Tower, Plot No.C-30, Block 'G',
Next to Bank of Baroda, Bandra Kurla Complex,
Bandra (East), Mumbai 400051
Phone: +91 22 26564000
Email: investorrelations@chalethotels.com
Website: http://www.chalethotels.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Chalet Hotels Limited IPO is a main-board IPO of 58,613,571 equity shares of the face value of ₹10 aggregating up to ₹1,641.18 Crores. The issue is priced at ₹275 to ₹280 per share. The minimum order quantity is 53 Shares.
The IPO opens on January 29, 2019, and closes on January 31, 2019.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Chalet Hotels Limited IPO opens on January 29, 2019 and closes on January 31, 2019.
Chalet Hotels Limited IPO lot size is 53 Shares, and the minimum amount required is ₹14,840.
You can apply in Chalet Hotels Limited IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Chalet Hotels Limited IPO will be done on Tuesday, February 5, 2019, and the allotted shares will be credited to your demat account by Thursday, February 7, 2019. Check the Chalet Hotels Limited IPO allotment status.
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I am not confident about business numbers. Thus thinking not to take risk.
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