Samhi Hotels Limited has re-submitted preliminary documents to the Securities and Exchange Board of India (SEBI) for raising funds through an initial public offering (IPO).
According to the draft documents, under the IPO, fresh shares worth Rs 1,000 crore will be issued while existing shareholders will make an offer for sale (OFS) of 90 lakh equity shares.
Earlier, the company had submitted IPO documents to SEBI in September, 2019 and got approval for IPO from SEBI in November, 2019. However, the company could not bring the IPO then.
The company may also consider a pre-IPO plan of Rs 200 crore. This will reduce the size of the original issue.
Out of the amount received from the IPO, the company will use Rs 750 crore for debt repayment and general corporate work.