IPO Details

Bidding Dates

27 Sep '24 - 01 Oct '24

Minimum Investment

₹1,30,000 / 1 Lot (2,000 Shares)

Price Range

₹65

Maximum Investment

₹1,30,000 / 1 Lot (2,000 Shares)

Retail Discount

To be announced

Issue Size

₹27.63 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Sep 27, 2024

Closing Date

Oct 1, 2024

Basis of Allotment

Oct 3, 2024

Initiation of Refunds

Oct 4, 2024

Listing Date

Oct 7, 2024

About Saj Hotels IPO

Saj Hotels Limited is launching its IPO with a total issue size of ₹27.63 crores, consisting entirely of a fresh issue of 42.5 lakh shares. The IPO opens for subscription on September 27, 2024, and closes on October 1, 2024. The issue is priced at ₹65 per share.

Retail investors can apply with a minimum lot size of 2,000 shares, requiring a minimum investment of ₹1,30,000. For High Net Worth Individuals (HNIs), the minimum application is for 2 lots (4,000 shares), amounting to ₹2,60,000.

The allotment for the Saj Hotels IPO is expected to be finalised on October 3, 2024, and the company is set to list on the NSE SME platform with a tentative listing date of October 7, 2024. Saj Hotels Limited offers investors the opportunity to participate in the hospitality industry with this upcoming IPO.

Industry Outlook:

  1. India's travel and tourism sector contributed ₹15.9 trillion (US$ 191.25 billion) to the economy in 2022, with expected annual GDP growth of 7.8% over the next decade.
  2. India's travel market is projected to reach US$ 125 billion by FY27, up from an estimated US$ 75 billion in FY20, driven by robust demand and medical tourism.

Saj Hotels IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Capital Expenditure requirements towards expansion of existing resort properties.
  2. Funding of working capital requirements of the company.
  3. General corporate purposes.

About Saj Hotels Limited

Incorporated in February 1981, Saj Hotels Limited is a key player in the hospitality industry, offering a range of services including traditional resort accommodations, villa rentals, and restaurant and bar facilities. The company is dedicated to providing comprehensive hospitality services, ensuring a memorable and comfortable experience for its guests.

Saj Hotels owns or leases three resort properties, two of which are managed and operated by the company, while the third is leased to others. These resorts serve as versatile venues for events such as conferences, weddings, and social gatherings.

To expand its portfolio, Saj Hotels has invested 50% in My Own Rooms Dot In Private Limited, further diversifying its presence in the hospitality sector.

As of May 2024, Saj Hotels Limited employs 144 staff across various departments, supporting its operations and commitment to high-quality service delivery. The company continues to grow, offering unique and tailored accommodation experiences across different destinations.

Peer Details

The companies considered by Saj Hotels as its peers include:

  1. Royale Manor Hotels & Industries Limited
  2. Jindal Hotels Limited

How to Check the Allotment Status of the Saj Hotels IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for Saj Hotels IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Saj Hotels IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Saj Hotels IPO

  • Registered office: Saj on the Mountains, Survey number 18, Mahabaleshwar Panchgani Road, Mahabaleshwar, Satara, Maharashtra – 412806
  • Phone: 022-62875252 / 022-26203434
  • E-mail: secretarial@sajresort.in

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 1,425.77 1,271.37 1,283.25
Profit After Tax (PAT) (in ₹ lakh) 345.40 347.99 132.02
Current Ratio (x) 0.47 0.29 0.21
Net Worth (in ₹ lakh) 1,734.49 1,316.84 891.08
Total Borrowings (in ₹ lakh) 291.52 614.14 1,053.54
Return on Equity (%) 19.91% 26.43% 14.82%
Return on Capital Employed (RoCE) (%) 26.36% 34.64% 28.64%
Revenue per Available Room (RevPAR) (in ₹) 3,173.80 3,011.6 2,863.5
Average occupancy (%) 38.36% 35.00% 39.00%
Earnings Per Share (in ₹) 2.90 3.00 1.21

Know before investing

Strengths

6

  1. Diversified solutions across PCB assembly, box build, IT hardware.

  2. Acquired Sahasra Semiconductor for semiconductor and memory products manufacturing.

  3. Exported 80% of products to over 10 countries in FY2024.

  4. Manufacturing capacity of 1.8 lakh units in the Noida facility.

  5. Revenue from exports reached ₹8503.97 lakh in FY2024.

  6. EN 9100:2018 certified facility ensuring high-quality production standards.

Risks

6

  1. Saj Hotels incurred ₹120.18 lakhs loss during FY2021 due to COVID-19.

  2. Negative cash flows reported in FY2024, FY2023, and FY2022.

  3. Working capital needs may rise with planned property expansions.

  4. Saj Hotels is involved in legal proceedings, with total claims worth ₹53 lakhs.

  5. Lease agreements pose revenue risks if not renewed timely.

  6. Seasonal variations lead to fluctuating occupancy and revenue levels.

  • How to Apply in IPO
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Saj Hotels IPO FAQs

What is the Saj Hotels IPO?

Saj Hotels IPO is a fixed-price IPO. The IPO will be open from September 27, 2024, to October 1, 2024.

When will Saj Hotels IPO be allotted?

The Basis of Allotment will happen on Thursday, October 2, 2024.

When will Saj Hotels IPO open for subscription?

The IPO subscription window will open on September 27, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2,000 shares.

When will Saj Hotels Limited list on exchanges?

The listing date for Saj Hotels is Monday, October 7, 2024.

What would be the listing gains on the Saj Hotels IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Saj Hotels IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Saj Hotels IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Saj Hotels Limited using one PAN?

You can submit only one application using your PAN card.

How to read Saj Hotels Limited's financial statements?

To read Saj Hotels’ financial statements, download the IPO’s  RHP document.