Chalet Hotels IPO overview – Chalet Hotels is an owner, developer and asset manager of high-end hotels in key metro cities in India. Its hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of 31 March 2018.
Its hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments, according to the Horwath Report. The company’s hotel platform emphasizes strategic locations, efficient design and development, appropriate positioning in hotel segments together with branding and operational tie-ups with leading hospitality companies. In addition, it has developed commercial and retail spaces, in close proximity to certain of its hotels.
The company generally develops its hotels in strategic, high density locations on large land parcels, allowing it to situate a greater number of rooms, as well as provide a wide range of amenities, such as, fine dining and specialty restaurants, large banquet and outdoor spaces.
Chalet Hotels promoters – Ravi C Raheja, Neel C Raheja, K Raheja Corp Private Limited, K Raheja Private Limited, Ivory Properties and Hotels Private Limited, Genext Hardware & Parks Private Limited, Touchstone Properties and Hotels Private Limited, Cape Trading LLP, Capstan Trading LLP, Casa Maria Properties LLP, Anbee Constructions LLP, Palm Shelter Estate Development LLP, Raghukool Estate Development LLP and Ivory Property Trust
| Chalet Hotels – Upcoming IPO details | |
| Subscription Dates | 29 – 31 January 2019 |
| Price Band | INR275 – 280 per share |
| Fresh issue | INR950 crore |
| Offer For Sale | 24,685,000 shares (INR678.84 – 691.18 crore) |
| Total IPO size | INR1,628.84 – 1,641.18 crore |
| Minimum bid (lot size) | 53 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Objects of the issue
- Repayment/prepayment of certain indebtedness – INR720 crore
- General corporate purposes
- Issue expenses
Chalet Hotels IPO Review
Chalet Hotels IPO Review: Should you invest?
| Chalet Hotels’ financial performance (in INR crore) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | H1 FY2019 | |
| Total revenues | 516.7 | 467.1 | 597.6 | 924.5 | 929.5 | 497.0 |
| Total expenses | 362.7 | 377.3 | 441.7 | 493.7 | 579.4 | 363.1 |
| Profit after tax | -99.4 | -126.4 | -112.5 | 127.4 | 31.2 | -43.7 |
| Net margin (%) | -19.2 | -27.1 | -18.8 | 13.8 | 3.4 | -8.8 |
Chalet Hotels Contact Details
Chalet Hotels LimitedÂ
Raheja Tower, Plot No.C-30, Block ‘G’
Next to Bank of Baroda, Bandra Kurla Complex
Bandra (East), Mumbai 400051
Phone:Â +91 22 26564000
Email: [email protected]
Website:Â www.chalethotels.com
Registrar of Chalet Hotels IPO
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone:Â +91 40 6716 2222Â
Fax:Â +91 40 2343 1551Â
Email:Â [email protected]
Website:Â www.karvyfintech.com
Valuation of Chalet Hotels (FY2018)
Earnings Per Share (EPS): INR1.82
Price/Earnings (P/E) ratio: 151.10 – 153.85
Return on Net Worth (RONW): 6.20%
Net Asset Value (NAV): INR29.36 per share
Chalet Hotels IPO Subscription Details
| Category | Shares offered | Subscription (no. of times) | ||
| Day 1 | Day 2 | Day 3 | ||
| QIB | 11,711,444 | 0.01 | 0.63 | 4.66 |
| NII | 8,884,569 | 0.30 | 0.46 | 1.10 |
| Retail | 20,730,659 | 0.00 | 0.01 | 0.03 |
| Total | 41,326,672 | 0.07 | 0.28 | 1.56 |
Chalet Hotels IPO Allotment Status
Chalet Hotels IPO allotment status is now available on Karvy website. Click on this link to get allotment status.
Listing Performance of Chalet Hotels
IPO Opening Date: 29 January 2019
IPO Closing Date: 31 January 2019
Finalisation of Basis of Allotment: 5 February 2019
Initiation of refunds: 6 February 2019
Transfer of shares to demat accounts: 6 February 2019
Listing Date: 7 February 2019
Listing Price on NSE: INR294 per share (up 5% from IPO price)
Closing Price on NSE: INR291.7 per share (up 4.2% from IPO price)
