Samhi Hotels shares settle nearly 16% higher in debut trade

Samhi Hotels Limited’s share price closed on September 22, up nearly 16% from its issue price of Rs 126.
The stock opened at Rs 130.55, 3.61 per cent higher than the issue price on the BSE. During the day, it rose 16.23% to Rs 146.45. The company’s shares rose 13.92% to close at Rs 143.55 per share. It opened at Rs 134.50 on the NSE, up 6.74 per cent. The stock price rose 15.87% to close at Rs 146 per piece.
The market valuation of the company was 3,129.9 million rupees. In the stock market, the 30-share BSE benchmark closed 221.09 points lower at 66,009.15 and Nifty 68.10 points lower at 19,674.25.
Samhi Hotel’s initial public offering (IPO) was oversubscribed by 5.33 times on September 18, the last day of public offering. The initial share sale for Rs 1,370 crore offered a price range of Rs 119-126 per share. The IPO included a fresh issue of up to Rs 1,200 crore and an offer for sale of up to 13.5 million shares. Gurugram-based Samhi Hotels acquires and builds major hotels, then renovates, renames, revalues ​​and operates the properties.