Initial Public Offer opens on January 29, 2019; to close on January 31
Price Band: Rs. 275 to Rs. 280 per Equity Share
Mumbai, January 30, 2019: Chalet Hotels Limited (the “Company”), an owner, developer and asset manager of high-end hotels in key metro cities in India, allotted 1,75,84,071 equity shares to 27 anchor investors at Rs. 280 per equity share (upper end of the Price Band) aggregating to Rs. 492.35 crore as part of the anchor investor allotment prior to the opening of the Rs. 1,640 crore IPO.
Anchor investors include: SBI SMALL CAP FUND – 17,85,729 equity shares (10.16% of the total anchor portion); FIDELITY FUNDS – INDIA FOCUS FUND – 14,28,615 equity shares (8.12%); GOLDMAN SACHS INDIA LIMITED – 14,28,615 equity shares (8.12%); HDFC SMALL CAP FUND – 12,14,336 equity shares (6.91%); HDFC STANDARD LIFE INSURANCE COMPANY LIMITED – 12,14,336 equity shares (6.91%); DB INTERNATIONAL (ASIA) LTD – 11,90,439 equity shares (6.77%); BLACKROCK INDIA EQUITIES (MAURITIUS) LIMITED – 8,58,388 equity shares (4.88%); EASTSPRING INVESTMENTS INDIA INFRASTRUCTURE EQUITY OPEN LIMITED – 7,14,334 equity shares (4.06%); KUWAIT INVESTMENT AUTHORITY FUND 225 – 7,14,281 equity shares (4.06%); LANSFORSAKRINGAR ASIENFOND – 2,16,505 equity shares (1.23%); LGT SELECT FUNDS – LGT SELECT EQUITY EMERGING MARKETS – 3,98,459 equity shares (2.27%); MACQUARIE UNIT TRUST SERIES- MACQUARIE ASIA NEW STARS FUND – 2,91,761 equity shares (1.66%); MINE SUPERANNUATION FUND – 2,13,273 equity shares (1.21%); THE MASTER TRUST BANK OF JAPAN, LTD. AS TRUSTEE OF BLACKROCK INDIA EQUITY FUND – 2,19,102 equity shares(1.25%); TOKIO MARINE LIFE INSURANCE SINGAPORE LTD. – PAR BLACKROCK – 2,89,380 equity shares (1.65%); TT ASIA – PACIFIC EQUITY FUND – 3,40,725 equity shares (1.94%); UNISUPER LIMITED AS TRUSTEE FOR UNISUPER – 5,59,521 equity shares (3.18%); ICICI PRUDENTIAL MIDCAP FUND – 5,35,671 equity shares (3.5%); ICICI PRUDENTIAL TOP 100 FUND – 6,78,665 equity shares (3.86%); RELIANCE CAPITAL TRUSTEE CO LTD.A/C RELIANCE LARGE CAP FUND – 7,14,334 equity shares (4.06%); RELIANCE CAPITAL TRUSTEE CO LTD.A/C RELIANCE MULTI CAP FUND – 7,14,281 equity shares (4.06%); SBI CONSUMPTION OPPORTUNITIES FUND- 3,57,167 equity share (2.03%)s; UTI – CORE EQUITY FUND – 1,38,436 equity shares (0.79%); UTI – INDIA LIFESTYLE FUND – 1,07,060 equity shares (0.61%); UTI-MID CAP FUND – 4,98,200 equity shares (2.83%); UTI- VALUE OPPORTUNITIES FUND – 4,70,640 equity shares (2.68%); BNP PARIBAS ARBITRAGE – 2,91,818 equity shares (1.66%).
The Company proposes to open its initial public offering (IPO) on January 29, 2019. The IPO consists of equity shares of Face Value of Rs. 10 each (“Equity Shares”) of the Company aggregating up to Rs. 9,500 million (“Fresh Issue”) and an offer for sale of upto 24,685,000 equity shares (the “offered shares”). The offer for sale comprises (i) up to 5,550,000 equity shares by Ravi C. Raheja; (ii) up to 5,550,000 equity shares Neel C. Raheja; (iii) up to 10,784,176 equity shares by K. Raheja Corp Private Limited; (iv) up to 800,000 equity shares by Palm Shelter Estate Development LLP; and (v) up to 2,000,824 equity shares by Ivory Properties And Hotels Private Limited (collectively the “Selling Shareholders”, And Such Offer For Sale, the “Offer For Sale”).
The Bid/Offer Period will close on January 31, 2019. The Price Band for the Offer is from Rs. 275 to Rs. 280 per Equity Share. Bids can be made for a minimum lot of 53 Equity Shares and in multiples of 53 Equity Shares thereafter.
The Equity Shares are proposed to be listed on BSE and NSE.
The Book Running Lead Managers (“BRLMs”) to the Offer are JM Financial Limited, Axis Capital Limited, and Morgan Stanley India Company Private Limited.
The proposed objects of the net proceeds of the Fresh Issue (“Net Proceeds”) are proposed to be utilized for: (i) repayment/prepayment of certain indebtedness; and (ii) general corporate purposes.
All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP
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