- Admin
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The initial public offering (IPO) of Samhi Hotels, which operates Marriott, Hyatt and IHG hotels in India, was oversubscribed by over five times, inviting bids worth 41.96 billion rupees ($504 million), exchange data showed on Monday. Investors bid for 333 million shares by the final day of bidding, 5.33 times more than the 62.5 million shares on offer, with institutional investors showing the most interest, the data showed. Samhi Hotels' 13.7-billion-rupees IPO comprises a fresh issue of shares worth up to 12 billion rupees and an offer-for-sale of up to 1.7 billion rupees from existing investors including Goldman Sachs.