Morgan Stanley, a leading investment bank, has made a significant divestment from SAMHI Hotels, an Indian hotel operator based in Gurugram. The extent of the divestment is yet to be confirmed, but exchange data shows that various Morgan Stanley funds sold a combined total of 64.6 lakh shares on Friday.
SAMHI Hotels recently debuted on the NSE with shares initially listed at an 8% premium over the issue price. By the end of trading, the stock had rallied to close at Rs 146 per share, marking a 16% increase over the IPO price of Rs 126.
The hotel company is a key player in India's hotel industry, holding the third-largest inventory of operational keys (owned and leased) in the country as of February 2023. SAMHI Hotels' business model involves acquiring or constructing primary hotels and then renovating and rebranding them under its banner. The portfolio includes notable properties such as Hyatt Regency in Pune, Courtyard by Marriott in Bengaluru, Four Points by Sheraton Vizag, and Fairfield by Marriott among others.
Despite its recent listing and strong portfolio, SAMHI Hotels has faced financial difficulties. Over the last three fiscal years, its financial performance has been subpar. In the year ending March, while the company doubled its revenue from operations to Rs 738 crore, it also reported a loss of Rs 338.5 crore during the same period.
Given these financial results, analysts have advised investors who received allotments to consider booking profits on the listing day. They recommend closely monitoring the company's financial performance in future quarters before making additional investment decisions.
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