Total Issue Size – Fresh Issue Up to 42,50,000 Lakh Shares Equity Shares of ₹ 10 each
Fixed Price Issue Size – of up to 42,50,000 Equity Shares Crores
Price Band – ₹ 65 Per Share
Lot Size – 2,000 Equity Shares
Saj Hotels Limited, a prominent player in the hospitality industry, is set to launch its Initial Public Offering (IPO) with a total fresh issue of up to 42,50,000 equity shares, aggregating ₹ 2,762.50 Lakhs. The price for each share has been set at ₹ 65, with a lot size of 2,000 shares. The market maker quota will consist of 2,14,000 equity shares, while both the retail quota and the NII (HNI) quota will each be allocated 20,18,000 equity shares. Prior to the IPO, the company has 1,18,75,000 shares, which will increase to 1,61,25,000 shares post-issue.
The IPO is scheduled to open on September 27, 2024, and will close on October 1, 2024, with a tentative listing date of October 7, 2024. The raised funds will be used to expand Saj Hotels’ existing property, meet working capital requirements, and cover general corporate expenses. Corpwis Advisors Private Limited is serving as the lead manager for the issue, while Satellite Corporate Services Private Limited will act as the registrar, and NNM Securities will be the market maker.
Rahul Maganlal Timbadia, promoter of Saj Hotels Limited present at the conference, shared the company’s background, along with sharing the upcoming plans for the growth and development of the company.
Saj Hotels Limited has established itself as a prominent player in the hospitality industry, offering a diverse range of services catering to Business-to-Business (B2B), Business-to-Business-to-Customer (B2B2C), and Business-to-Customer (B2C) markets. The company’s portfolio includes everything from traditional resort accommodations to villa rentals and restaurant and bar properties, aiming to provide guests with comprehensive experiences that cater to both leisure and event-based needs.
With a focus on delivering exceptional hospitality services, Saj Hotels offers a variety of accommodation options across multiple destinations, including well-appointed rooms and suites. These are complemented by a wide range of dining options, including restaurants, bars, and in-room dining services. Guests are treated to a full spectrum of amenities, such as personalized concierge assistance, rejuvenating spa facilities, and various recreational activities, all designed to ensure a memorable and luxurious stay.
The company also boasts versatile event venues capable of hosting conferences, weddings, and social events. With comprehensive event planning and management services, Saj Hotels ensures that every gathering is seamlessly executed, providing unforgettable experiences for both clients and their guests.
In addition to its resort properties, Saj Hotels is expanding its offerings with the development of ‘Saj Villas’ in Goa. These luxurious villas, available in 2BHK and 4BHK options, are designed to cater to a wide range of guests, including families, groups, and couples. Featuring private swimming pools and thoughtfully curated amenities, Saj Villas aims to provide an elevated lodging experience for vacationers seeking comfort and exclusivity.
Saj Hotels operates under a hybrid business model that includes both direct ownership and management of properties, as well as strategic partnerships with third-party operators. The company manages some of its resorts and restaurants directly on freehold or leasehold land, while other properties are leased to third parties under operation and management agreements. This approach enables Saj Hotels to effectively maximize operational efficiency and profitability, leveraging both ownership and strategic collaborations to expand its reach in the competitive hospitality market.
For the years ended on March 31, 2024, March 31, 2023, and March 31, 2022, the Company has earned revenue from operations of
₹ 1,425.77Lakhs, ₹ 1,271.37 Lakhs, ₹ 1,283.25 Lakhs respectively. The Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) for the year ended on March 31, 2024, March 31, 2023, and March 31, 2022, were ₹ 652.60 Lakhs, 322.40 Lakhs, and ₹ 412.03Lakhs respectively.
