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TCS, HDFCBANK, SBI Liquid Fund (G)
Saj Hotels Ltd.

SAJHOTELS

Equity

NSE

Min. Investment

65,000.00

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IPO Details

Bidding Dates

27 Sept 24 - 01 Oct 24

Price Range ₹

65 - 0

Total Equity

27.63Cr

Lot Size

2000

Exchange Status

NSE

IPO Doc

Subscription Rate

Non-Institutional Investor

0.00×

Qualified Institutional Buyers

0.00×

Employees

0.00×

Retail Investors

0.00×

Total subscription Rate

0.00×

IPO Timeline

Offer start

27 Sept 2024

Offer end

01 Oct 2024

Allotment

03 Oct 2024

Refund initiation

04 Oct 2024

Demat transfer

04 Oct 2024

Listing

07 Oct 2024

About Company

Founded in February 1981, Saj Hotels Limited operates in the hospitality sector, offering a wide array of services, including traditional resort stays, villa rentals, and restaurant and bar facilities. The company is committed to delivering comprehensive services to ensure a memorable experience for its guests. Saj Hotels provides a variety of accommodation options across multiple destinations, all designed to offer comfort and convenience. The company owns or leases three resort properties. Two of these resorts are managed and operated by Saj Hotels, while the third is leased to another party. These resorts serve as versatile venues, ideal for hosting events such as conferences, weddings, and social gatherings. Saj Hotels holds a 50% investment in My Own Rooms Dot In Private Limited, further expanding its reach and diversifying its hospitality portfolio. As of May 2024, the company employs 144 people across various departments. Competitive Strengths - The resorts boast stunning natural surroundings, featuring breathtaking views of mountain ranges, lush valleys, and clear lakes, offering guests a deep connection to nature's beauty. - The hotels provide a range of amenities, including restaurants, a spa, and wedding facilities. These diverse offerings help mitigate seasonal fluctuations and create memorable experiences for a wide range of guests. - The company benefits from experienced management personnel. - It also engages with local communities to foster mutually beneficial relationships.

Year Founded

04-02-1981

Promotor Details

Rahul Maganlal Timbadia

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage84.1261.94
Share Capital99900009990000

Offer to Public

42,50,000.00 Cr

Project Details

  • Capital Expenditure requirements towards expansion of existing resort properties - 170cr
  • Funding of Long term Working Capital requirements - 40cr

Objectives

  • Capital Expenditure requirements towards expansion of existing resort propertiesFunding of working capital requirements of the CompanyGeneral Corporate Expenses

Highlights

  • In addition to room bookings, the company generates income from multiple sources, including restaurants, spas, and event hosting for weddings and conferences, providing financial stability.
  • Saj Hotels has expanded its portfolio by leasing a restaurant and bar property, further increasing its market presence and service offerings.
  • The acquisition of a 50% stake in My Own Rooms Dot In Private Limited diversifies the company’s business and enhances its presence in the hospitality sector.
  • The company benefits from a skilled and experienced management team, ensuring efficient operations and strategic growth.
  • The resorts serve as versatile event spaces, attracting a wide range of clientele for conferences, weddings, and social events, adding to the company’s appeal.

Challenges

  • The company incurred a loss of Rs 1.20 crore in FY21, which raises concerns about its financial stability.
  • Previous instances of negative cash flows may signal potential financial challenges if they recur.
  • Involvement in legal proceedings involving the company, group entities, and directors may lead to negative outcomes that could harm its business.
  • The reliance on a joint venture agreement for one of its key properties, Saj in the Forest, Pench, poses a risk if the terms are not met.
  • The company has significant contingent liabilities of Rs 36.28 crore, which, if not managed or repaid, could severely affect its financial health.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
20229,623.22237.50355.76347.992.9304
20239,892.53237.50344.68345.402.9086
20213,276.21237.50-120.18-120.18-1.012
20249,806.171,187.50355.76347.992.9304
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