18 Feb 2019 | 2:38 AM


Chalet Hotels IPO subscribed 1.57 times on last day of bidding
Published on 02-01-2019
The initial public offering of Chalet Hotels which owns develops and manages high-end hotels in key metro cities in India was subscribed 1.57 times on the last day of bidding Thursday.

The initial public offering (IPO) to raise about Rs 1641 crore received bids for 64907563 shares against the total issue size of 41326672 shares as per NSE data till 1800 hrs.

The category meant for qualified institutional buyers (QIBs) got subscribed 4.65 times non institutional investors 1.11 times and retail individual investors 3 per cent as per merchant banking sources.

The offer comprises a fresh issue of Rs 950 crore and an offer for sale of up to 24685000 equity shares (including anchor portion of 17584071 equity shares).

Its price range is at Rs 275-280 per equity share.

JM Financial Limited Axis Capital Limited and Morgan Stanley India Company are managing the offer.

This is the first IPO of 2019.

The equity shares of the company are proposed to be listed on the BSE and the NSE.

The initial public offer opened for bidding on Tuesday.