The Saj Hotels IPO is scheduled to open on September 27, 2024, and will close on October 1, 2024. This book-built issue aims to raise approximately ₹27.63 crores, comprising a fresh issue of ₹27.63 crores along with an offer for sale of up to [.] equity shares, each with a face value of ₹10.
The price band for the Saj Hotels IPO is set at ₹65 per share. The allocation is structured as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). The IPO is expected to be listed on the NSE on October 7, 2024, with the allotment date scheduled for October 3, 2024.
Regarding financial performance, the company reported revenue of ₹12.71 crores in 2023, a slight decrease from ₹12.83 crores in 2022. However, profits saw a significant increase, rising to ₹3.48 crores in 2023 from ₹1.32 crores in 2022. Given these financials, long-term investors may find the Saj Hotels IPO to be a promising opportunity.
Saj Hotels IPO Objectives
The company plans to use the funds raised through the IPO for the following purposes:
Capital expenditure for expanding existing resort properties
Financing working capital needs of the company
Covering general corporate expenses
Saj Hotels IPO Review (Should You Apply?)
Update coming soon
Saj Hotels IPO Date & Price Band Details:
| IPO Open Date: | September 27, 2024 |
| IPO Close Date: | October 1, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹65 Per Share |
| Issue Size: | Approx ₹27.63 Crores |
| Fresh Issue: | Approx ₹27.63 Crores |
| Issue Type: | Book Built Issue |
| IPO Listing: | NSE SME |
| Retail Quota: | Not more than 50% |
| QIB Quota: | Not more than 00% |
| NII Quota: | Not more than 50% |
Saj Hotels IPO Lot Size
To apply for the Saj Hotels IPO, you need to buy a minimum of 2,000 shares. This will cost you ₹130,000.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 2,000 | ₹ 1,30,000 |
| Retail Maximum | 1 | 2,000 | ₹ 1,30,000 |
| HNI Minimum | 2 | 4,000 | ₹ 2,60,000 |
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Saj Hotels IPO Timeline
The Saj Hotels IPO will open for subscription on September 27 and will close on October 1. Allotments are expected to be finalized on October 4, with the listing projected for October 7.
| IPO Open Date: | September 27, 2024 |
| IPO Close Date: | October 1, 2024 |
| Basis of Allotment: | October 3, 2024 |
| Refunds: | October 4, 2024 |
| Credit to Demat Account: | October 4, 2024 |
| IPO Listing Date: | October 7, 2024 |
Promoters of Saj Hotels IPO
The promoters of Saj Hotels include Mr. Rahul Maganlal Timbadia, Mr. Kartik Maganlal Timbadia, and Mr. Karna Kartik Timbadia.
About Saj Hotels IPO
Saj Hotel Limited is located in Saj on the Mountains at Survey Number 18, Mahabaleshwar Panchgani Road, Mahabaleshwar, Satara, Maharashtra – 412806. The company operates within the hospitality sector, providing a wide range of services, including Business-to-Business (B2B), Business-to-Business-to-Customer (B2B2C), and Business-to-Customer (B2C) offerings. Their portfolio features traditional resort accommodations, villa rentals, and restaurant and bar facilities.
Saj Hotels is committed to delivering an exceptional guest experience, with various food and beverage options, recreational amenities, and event hosting services. They aim to create memorable experiences for their visitors through customized accommodations that prioritize comfort and convenience.
The resorts operated by Saj Hotels serve as flexible venues for events, capable of hosting conferences, weddings, and social gatherings. The company ensures that every guest enjoys a seamless and unforgettable stay. Additionally, they are developing “Saj Villas” in Goa, which will feature carefully designed 2 BHK and 4 BHK options for family vacations, group gatherings, or romantic getaways. Saj Hotels has also invested 50% in My Own Rooms Dot In Private Limited, which manages the resort “Morjim Retreat” in the popular destination of Goa.
Saj Hotels IPO Company Financial Report
Saj Hotels Limited experienced a revenue growth of 13.52%, while its profit after tax (PAT) saw a decrease of 3.11% between the financial years ending March 31, 2024, and March 31, 2023.
Amount in Lakhs
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 9,808.46 | 9,892.53 | 9,626.45 | 3,286.02 |
| Revenue | 1,455.49 | 1,282.19 | 1,287.90 | 812.14 |
| Profit After Tax | 344.68 | 355.76 | 144.25 | -120.18 |
| Net Worth | 1,734.49 | 1,316.84 | 891.08 | 754.46 |
| Reserves and Surplus | 7,721.70 | 8,325.19 | 7,977.20 | 1,748.59 |
| Total Borrowing | 291.52 | 614.14 | 1,053.54 | 938.51 |
Saj Hotels IPO Key Performance Indicator
Check Saj Hotels IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 27.02% |
| ROCE: | 34.64% |
| EBITDA Margin: | 25.36% |
| PAT Margin: | 27.98% |
| Debt to equity ratio: | 0.47 |
| Earning Per Share (EPS): | ₹3.00 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 27.02% |
| Net Asset Value (NAV): | ₹ 11.09 |
Saj Hotels IPO Reservation
Saj Hotels IPO includes a total of 4,250,001 shares available for reservation. Out of these, 2,018,000 shares (47.48%) are allocated to Non-Institutional Investors (NII) and 2,018,000 shares (47.48%) are reserved for Retail Individual Investors (RII).
| Investor Category | Shares Offered |
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 2,14,000 (5.04%) |
| Other Shares Offered | 20,18,000 (47.48%) |
| Retail Shares Offered | 20,18,000 (47.48%) |
| Total Shares Offered | 42,50,001 (100%) |
Saj Hotels IPO Registrar
- Satellite Corporate Services Private Limited
- A 106 & 107, Dattani Plaza, East West Compound,
- Andheri Kurla Road, Safed Pool Sakinaka,
- Mumbai – 400072
- Tel: +91 22 28520461
- Email: service@satellitecorporate.com
- Website: www.satellitecorporate.com
IPO Lead Managers (Merchant Bankers)
Corpwis Advisors Private Limited
Company Address
- Saj Hotels Limited
- Office No. 102, 1st Floor,
- Navkar Plaza Premises Coop Society Ltd, Bajaj Road,
- Vile Parle (W), Mumbai 400056
- Phone: +022-62875252
- Email: secretarial@sajresort.in
- Website: www.sajresort.com
Saj Hotels IPO FAQs
What is Saj Hotels?
Saj Hotels is a small and medium-sized enterprise (SME) initial public offering (IPO). The company aims to raise ₹27.63 crores through this IPO, priced at ₹65 per equity share, and it will be listed on the NSE.
When will Saj Hotels IPO open for subscription?
The IPO will open for subscription on September 27, 2024, for Non-Institutional Investors (NII) and Retail Investors, and will close on October 1, 2024.
What is the investor portion in Saj Hotels IPO?
The allocation for the investors is as follows: 0% for Qualified Institutional Buyers (QIB), 50% for Non-Institutional Investors (NII), and 50% for Retail Investors.
How can I apply for the Saj Hotels IPO?
You can apply for the Saj Hotels IPO through the ASBA facility online using your bank account. Additionally, you can apply via UPI through your stock broker or by filling out an offline form with your broker.
What is the issue size of Saj Hotels IPO?
The issue size of the Saj Hotels IPO is ₹27.63 crores.
What is the price band for Saj Hotels IPO?
The price band for the Saj Hotels IPO is set at ₹65 per share.