Chalet Hotels IPO
Chalet Hotels IPO — date, price band, lot size & details 2019
Chalet Hotels listed on 7 Feb 2019 at ₹291, 3.9% above the ₹280 issue price.
Chalet Hotels owns, develops and manages high end hotels in major Indian metro cities under global brands such as JW Marriott and Westin, and is part of the K Raheja Corp group. Its total income was Rs 918.53 crore in FY2018.
Stock price
Chalet Hotels is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 29 Jan 2019
- Close 31 Jan 2019
- Allotment 05 Feb 2019
- Refund/credit 06 Feb 2019
- Listing 07 Feb 2019
Issue summary
The terms of the offer, as filed.
| IPO Dates | 29 to 31 Jan, 2019 |
|---|---|
| Price Band | ₹275 – ₹280 |
| Face Value | ₹10 |
| Lot Size | 53 Shares |
| Issue Size | ₹1641.18 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,840 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 53 shares at the ₹280 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 53 | ₹14,840 |
| Retail (max) | 13 | 689 | ₹1,92,920 |
| S-HNI (min) | 14 | 742 | ₹2,07,760 |
| S-HNI (max) | 67 | 3,551 | ₹9,94,280 |
| B-HNI (min) | 68 | 3,604 | ₹10,09,120 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 596.48 crore in FY2016 to Rs 918.53 crore in FY2018.
- 02EBITDA from its JW Marriott and Westin branded metro hotels rose from Rs 155.13 crore in FY2016 to Rs 339.50 crore in FY2018.
- 03Rs 950.00 crore of the issue was fresh money for the company, against Rs 691.18 crore to selling shareholders.
- 04Rs 720.00 crore of the issue was for repaying debt.
Risks · 5
- 01Profit swung from a loss of Rs 113.11 crore in FY2016 to a profit of Rs 130.14 crore in FY2017 and only Rs 23.18 crore in FY2018.
- 02It made a loss of Rs 41.63 crore in six months to 30 September 2018.
- 03Total borrowing was Rs 2,569.89 crore on 30 September 2018, more than five times its net worth.
- 04Luxury hotels depend on business travel and are cyclical; total assets were Rs 3,756.40 crore.
- 05Promoters held 100% before the issue and 71.41% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Chalet Hotels offer document.
| Metric | 30 Sep 2018 | 31 Mar 2018 | 31 Mar 2017 | 31 Mar 2016 |
|---|---|---|---|---|
| Assets | 3,756.40 | 3,825.24 | 3,742.55 | 3,559.70 |
| Total Income | 498.20 | 918.53 | 924.53 | 596.48 |
| Profit After Tax | -41.63 | 23.18 | 130.14 | -113.11 |
| EBITDA | 135.66 | 339.50 | 430.94 | 155.13 |
| NET Worth | 467.44 | 502.37 | 471.17 | 521.21 |
| Reserves and Surplus | 319.40 | 201.60 | 296.34 | - |
| Total Borrowing | 2,569.89 | 2,699.67 | 2,611.70 | 2,331.15 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹916.13 Cr of the issue is earmarked to named objects.
Chalet Hotels IPO Anchor Investors
27 anchor investors across 12 fund houses committed ₹492.34 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It is part of the K Raheja Corp group, a leading Indian business group.
Its hotels carry global hospitality brands such as JW Marriott, Westin and Marriott.
The IPO was Rs 1,641.18 crore, with Rs 950.00 crore of fresh issue and Rs 691.18 crore of offer for sale, at Rs 280, the top of the Rs 275 to Rs 280 band. Most of the fresh money was for repaying debt.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Chalet Hotels IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Morgan Stanley India Co. Pvt. Ltd
36 issues handledBest listing: Nykaa (+79.4%). Weakest: KSK Energy Ventures (-12.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Chalet Hotels?
The current Grey Market Premium is ₹0.
What is the Chalet Hotels IPO price band?
₹275 to ₹280, on a face value of ₹10.
When is the allotment?
The basis of allotment is 5 February 2019, with listing on 7 February 2019.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
