Schedule of Saj Hotels
| Issue open date | 27 Sep 2024 |
| Issue close date | 01 Oct 2024 |
| UPI mandate deadline | 01 Oct 2024 (5 PM) |
| Allotment finalization | 03 Oct 2024 |
| Refund initiation | 04 Oct 2024 |
| Share credit | 04 Oct 2024 |
| Listing date | 07 Oct 2024 |
| Mandate end date | 16 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 02 Nov 2024 |
| Lock-in end date for anchor investors (remaining) | 01 Jan 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Saj Hotels
Incorporated in 1981, Saj Hotels is engaged in the hospitality industry. It provides a diverse portfolio of Business-to-Business (B2B), Business-to-Business-to-Customer (B2B2C), and Business-to-Customer (B2C) hospitality offerings, spanning from traditional resort accommodation to villa rentals and restaurant and bar properties. The company has resorts across the following three destinations- Saj on the Mountains, Mahabaleshwar, Saj by the Lake, Malshej, and Saj in the Forest, Pench. They are also developing villas named, ‘Saj Villas’ in Goa with a curated range of 2BHK and 4BHK options for guests. In addition to its core hospitality offerings, They have also invested (50%) in a company called My Own Rooms Dot In Private Limited which operates a resort named ‘Morjim Retreat’ in Goa.
Financials of Saj Hotels
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹27.63 crores |
| Fresh Issue | ₹27.63 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 17 (61.53%) |
| Issue related expenses | 3.3 (11.94%) |
| Working capital requirements | 4 (14.48%) |
| General corporate purposes | 3.33 (12.05%) |
Strengths
- The company’s brand expansion strategy focuses on identifying select markets with untapped tourism potential. By carefully evaluating emerging destinations that align with its values, it aims to introduce exceptional hospitality experiences to new horizons.
- The company’s dynamic pricing strategy allows it to optimize its revenues by capturing the highest possible rates during peak demand periods while offering more competitive pricing during off-peak times to attract cost-conscious travelers.
- The properties are meticulously designed to blend seamlessly with their natural surroundings, utilizing eco-friendly materials and energy-efficient systems.
- The company actively engages with guests on social media platforms to build brand awareness, share promotions, and respond to inquiries and reviews.
Risks
- The company has had negative cash flow in the past and may continue to have negative cash flows in the future.
- It requires a significant amount of working capital for continued growth. Any inability to meet its working capital requirements may hurt the company’s results of operations.
- One of its properties is situated in proximity to the Pench National Park and may be subject to regulatory as well as government restrictions which might adversely affect the business and financial position.
- The company has entered into long-term lease deeds with various third parties to receive lease rentals/ license fees for the resort/ restaurant properties. If these agreements are terminated or not renewed, the business may be adversely affected.