Bharat Hotels IPO – Review, Allotment status, Subscription, GMP Price & more

Bharat Hotels Limited are one of the leading privately-owned domestic hotel brands in India, according to the CRISIL Report, engaged in the business of operating and managing hotels, palaces and resorts, with a focus on the luxury segment. Bharat Hotels IPO consists of * Equity shares of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Bharat Hotels IPO release date, IPO offer price, subscription, Bharat Hotels IPO allotment, Bharat Hotels IPO grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Bharat Hotels IPO Review & Ratings

Bharat Hotels IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.8/10
Industry Ranking8.7/10
Company Background7.9/10
Company Reputation8.6/10
Competitive Edge8.3/10
Financial Statements7.8/10
Popularity Index8.7/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review8.1/10
Overall Ratings8.0/10
Star Ratings★★★★☆

Summary of Bharat Hotels Limited  IPO

Bharat Hotels IPOThey are one of the leading privately-owned domestic hotel brands in India, according to the CRISIL Report, engaged in the business of operating and managing hotels, palaces and resorts, with a focus on the luxury segment. As at March 31, 2018, they operated 12 luxury hotels, palaces and resorts under The LaLiT brand and two mid-market segment hotels under The LaLiT Traveller brand across India‘s key business and leisure travel destinations, offering 2,261 rooms.

The LaLiT Great Eastern Kolkata received awards in 2018 for its chef, its bakery and its premium dining restaurant. Furthermore, they received the ―best card based loyalty program award at the Customer Loyalty Awards for Their loyalty program and the ―women at work leadership award at the Employee Engagement Leadership Awards for The LaLiT Suri Hospitality Group.

In 2017, they received a number of awards such as ―certificate of excellence from Trip Advisor for Their hotels operating under. The LaLiT brand in New Delhi, Jaipur, Khajuraho and Chandigarh, the ―best luxury hill resort award at the Outlook Traveller Awards 2017 for The LaLiT Grand Palace Srinagar and the ―best beach property award at the Outlook Traveller Awards – Boutique Hotel Awards 2017 for The LaLiT Resort & Spa Bekal (Kerala).

In 2016, The LaLiT New Delhi received the ―certificate of excellence‖ from Trip Advisor. In 2015, The LaLiT Temple View Khajuraho was listed among the ―10 best luxury hotels in India‖ by the Tripoto community. Kitty Su at New Delhi was the onl nightclub from India to feature in DJ Mag‘s top 100 clubs of the world for the years 2015, 2016 and 2017.

The Promoters of this company are DR. JYOTSNA SURI, MR. RAMESH SURI AND DEEKSHA HOLDING LIMITED. The lead manager to the issue is HDFC Bank Limited, Edelweiss Financial Services Limited, YES Securities (India) Limited and the Karvy Computershare Private Limited.


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Bharat Hotels IPO Date

The opening and the closing date of Bharat Hotels IPO is not known yet.


Bharat Hotels IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1
Day 2
Day 3
Day 4
Day 5

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Bharat Hotels IPO Allotment Status

Will be updated soon. 


Bharat Hotels IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Bharat Hotel IPO Equity Share Offering

*Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed so it will be aggregated to Rs (* Issue Price).


Bharat Hotels Limited – Company Overview

They are one of the leading privately-owned domestic hotel brands in India, according to the CRISIL Report, engaged in the business of operating and managing hotels, palaces and resorts, with a focus on the luxury segment. As at March 31, 2018, they operated 12 luxury hotels, palaces and resorts under The LaLiT brand and two mid market segment hotels under The LaLiT Traveller brand across India‘s key business and leisure travel destinations, offering 2,261 rooms.

In addition, they hold the exclusive rights to provide management consultancy services in connection with the operation and management of a hotel in London, The LaLiT London, which offered 70 rooms as at March 31, 2018.

Their luxury hotels operating across India under The LaLiT brand are grouped into the following three categories:

1. City hotels: The LaLiT New Delhi, The LaLiT Mumbai, The LaLiT Ashok Bangalore, The LaLiT Great Eastern Kolkata, The LaLiT Jaipur and The LaLiT Chandigarh.
2. Palaces: The LaLiT Laxmi Vilas Palace Udaipur and The LaLiT Grand Palace Srinagar.
3. Resorts: The LaLiT Golf & Spa Resort Goa, The LaLiT Resort & Spa Bekal (Kerala), The LaLiT Mangar and The LaLiT Temple View Khajuraho.

Going forward, they intend to develop three new hotels under The LaLiT brand in Ahmedabad, Mangalore and Dehradun which will, in aggregate, offer 290 rooms and 115 cottages, when completed. They also intend to develop 50 additional rooms at The LaLiT Laxmi Vilas Palace Udaipur. They also operate two hotels in the mid market segment under The LaLiT Traveller brand, which are The LaLiT Traveller Jaipur and The LaLiT Traveller Khajuraho. They intend to develop fTheir new hotels under The LaLiT Traveller brand in Ahmedabad, Pune, Amritsar and Chitrakoot which will, in aggregate, offer 308 rooms, when completed.

Competitive Strengths of Bharat Hotels Limited:

  • Distinctive hotel portfolio across key geographies in India
  • Independent brand having an established track record in the Indian hospitality industry
  • Diversified sources of revenue
  • Well developed sales and marketing network
  • Experienced leadership team

Business strategies of Bharat Hotels Limited:

  • Continue to focus on enhancing Their operational performance and the competitiveness of their hotel properties
  • Continue to improve operating efficiencies
  • Expand Their operations by developing new hotels under The LaLiT and The LaLiT Traveller brands in select locations
  • Expand the operations of their F&B brands
  • Brand expansion through management contracts
  • Continue to invest in human sesterces to support their expansion and further develop TLSHS

Bharat Hotel Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR Millions)
31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets26,013.3325,534.4723,171.3322,748.3121,995.81
Total Revenue6,455.215,827.305,523.164,823.754,429.97
Total Expense4,567.684,050.923,839.863,685.883,629.64
Profit After Tax312.41366.87468.2737.78164.48

Earnings per Equity Share (INR Millions)

31-Dec-1831-Mar-1731-Mar-16
Basic 4.114.836.16
Diluted 4.114.836.16

From the above statements, one could find that the Bharat Hotel Limited may perform well.


Bharat Hotel IPO – Promoters

The Promoter of this company are:

  1. DR. JYOTSNA SURI,
  2. MR. RAMESH SURI AND
  3. DEEKSHA HOLDING LIMITED

Interest in the promotion of the Company

Their Promoters are not interested as a member of a firm or company, and no sum has been paid or agreed to be paid to Their Promoters or to such firm or company in cash or shares or otherwise by any the person either to induce them to become or to qualify them as a director or otherwise for services rendered by them or by such firm or company in connection with the promotion or formation of Their Company.

Their Promoter, Dr Jyotsna Suri, has given unsecured loans to certain of Their Subsidiaries and LSECT which are currently outstanding. Their Promoter, Deeksha Holding Limited, has also given unsecured loans to AZIL and LSECT which are currently outstanding. Accordingly, Dr Jyotsna Suri and Deeksha Holding Limited are interested in the extent of any interest earned on these loans.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires the approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters have not shown any interest in acquiring the intellectual rights of the company.


Bharat Hotels IPO Offer Details or Issue Details 

Offer Up to * Equity Shares aggregating up to Rs Rs.12,000 million
Of which
Fresh IssueUp to [•] Equity Shares aggregating up to  2,420 million
Offer for SaleUp to * Equity Shares aggregating up to  [●] million
 of which
Offer for sale by promotersUp to * Equity Shares aggregating up to  [●] million
Of which:
– Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion))Up to * Equity Shares
Pre and post-Offer Equity Shares
Equity Shares outstanding as of the date of this Draft Red
Herring Prospectus
75,991,199 Equity Shares
Equity Shares outstanding prior to the Offer * Equity Shares
Equity Shares outstanding after to the offer* Equity Shares
Use of Offer ProceedsAs the Offer comprises an Offer for Sale, their Company will not receive any proceeds from the Offer.

Bharat Hotels IPO Issue Object

  • Monitoring of Utilization of Funds and
  • General corporate purposes.

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Bharat Hotels IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Distinctive hotel portfolio across key geographies in India;
  • Independent brand having an established track record in the Indian hospitality industry;
  • Diversified spheres of revenue;
  • Well developed sales and marketing network; and
  • Experienced leadership team

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-184.114.6887.83
31-Mar-174.835.6885.00
31-Mar-166.167.6081.08
  • Industry P/E Ratio:
ParticularsP/E ratio (consolidated)
Average171.36.
Highest417.22
Lowest51.43
  • Competitive Peers:

There are no comparable listed companies in India engaged substantially in the same line of business as their Company, hence the comparison with industry peers is not applicable.


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Bharat Hotel IPO – Lead Managers

Lead Managers
HDFC Bank Limited

Edelweiss Financial Services Limited

YES Securities (India) Limited

 

Registrar to the Offer
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot No.31-32
Gachibowli Financial District Nanakramguda
Hyderabad 500 032, India
Tel: +91 40 6716 2222, Fax: +91 40 2343 1551
E-mail:
Website: www.karisma.karvy.com
Investor Grievance ID:
Contact person: Mr. Murali Krishna
SEBI Registration No.: INR000000221

Other Details:

  • Statutory Auditor – Walker Chandiok & Co LLP
  • Bankers to the Company –  Axis Bank Limited, ICICI Bank Limited, YES Bank Limited and The Jammu & Kashmir Bank Limited.

Bharat Hotels IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.7/107.7/107.8/107.3/107.7/10
Sharekhan7.4/107.4/107.5/107.7/107.8/10
Kotak Securities7.7/107.4/107.3/107.8/107.5/10
ICICI Direct7.8/107.7/107.5/107.5/107.7/10
IIFL7.5/107.8/107.3/107.7/107.5/10
Edelweiss7.3/107.5/107.7/107.3/107.3/10
Zerodha7.7/107.3/107.7/107.5/107.7/10
5Paisa7.9/107.5/107.8/107.3/107.3/10
Karvy7.7/107.3/107.5/107.5/107.7/10
Motilal Oswal7.9/107.7/107.3/107.3/107.7/10

The ratings would be updated once the financials and the other details of the IPO are released.


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