Saj Hotels IPO: Issue booked over 5.4 times on day 3; check allotment and listing date

Saj Hotels Limited IPO has been booked over 5.4 times on the last day of bidding on Tuesday, October 1. The NSE SME issue received good demand on the final day of bidding, with retail investors submitting a higher number of bids.

Saj Hotels IPO received bids for over 2.2 crore shares compared to the 40.36 lakh shares on offer, leading to an overall subscription of 5.46 times.

The Non-Institutional Investors’ (NIIs) portion of the IPO was booked 2.1 times with applications for over 42 lakh shares compared to the 20.18 lakh shares reserved for the category. The IPO was booked 8.65 times in the retail category. The retail investors submitted bids for 1.74 crore shares against 20.18 lakh shares on offer.

Saj Hotels IPO offer size, price band and other details

The ₹27.63-crore initial public offering of Saj Hotels Limited is a fixed price issue comprising an entirely fresh issuance of 42.5 lakh shares.

Saj Hotels IPO price was fixed at ₹65 per share. The minimum lot size to apply for the NSE SME issue was fixed at 2000 shares, which aggregated to an investment of ₹1,30,000.

Saj Hotels IPO objective

Saj Hotels plans to use the money raised via the public issue for expansion of its existing resort properties. A portion of the IPO proceeds will also be used for funding working capital requirements and general corporate purposes of the company.

Saj Hotels IPO dates

Saj Hotels IPO opened for subscription on Friday, September 27. Saj Hotels IPO share allotment status is expected to be finalised by Thursday, October 3.

After the finalisation of the share allotment status, refunds will be initiated for unsuccessful bidders on Friday, October 4, and shares of Saj Hotels will be credited into the Demat accounts of successful bidders the same day. Shares of Saj Hotels will be listed on the NSE SME platform. Saj Hotels shares are scheduled to be listed on Monday, October 7.

Saj Hotels IPO registrar

Saj Hotels IPO registrar is Satellite Corporate Services Private Limited and the book running lead manager for the issue is Corpwis Advisors Private Limited. Saj Hotels IPO’s market maker is Nnm Securities.

About Saj Hotels Limited

Saj Hotels was incorporated in February 1981. The company operates in the hospitality industry and offers services such as resort accommodation and villa rentals. The company owns and leases three resorts.

Two of the properties are managed and operated by Saj Hotels, while one is leased to a third party. The company had 144 employees as of May 2024.