Considering the upper price band of 65, the stock was expected to see a flattish debut or even a negative one.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The net proceeds from the public offer will be used for expansion of existing property, funding working capital requirements and other general corporate purposes.
The company is engaged in the hospitality industry providing a diverse portfolio of B2B, B2B2C and B2C hospitality offerings, spanning from traditional resort accommodation to villa rentals and restaurant and bar properties.
It focuses on providing comprehensive services to guests, including food and beverage options, recreational facilities and event hosting capabilities, reflecting a commitment to ensuring a memorable experience for its visitors.Saj Hotels offer a range of accommodation options across various destinations, each tailored to provide comfort and convenience.Its resorts have well-appointed rooms and suites, complemented by a variety of dining venues including restaurants, bars and
in-room dining services.
The company’s team provides personalized concierge assistance, access to rejuvenating spa facilities, and a host of recreational activities to ensure a memorable stay for every visitor.
“Our resorts serve as versatile event venues, equipped to host a wide array of gatherings including conferences, weddings, and
social events. With comprehensive event planning and management services, we ensure seamless execution and unforgettable experiences for our clients and their guests,” the company said in its prospectus.
For the year ended March 2024, the company clocked total revenues of Rs 14.25 crore and net profit of Rs 3.45 crore.