Chalet Hotels IPO – Review, DRHP, Allotment, Subscription, GMP Price & more
Last Updated Date: Nov 16, 2022Chalet Hotels is an owner, developer and asset manager of high-end hotels in key metro cities in India. The hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru. Chalet Hotels IPO comprises of *Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Chalet Hotels IPO release date, IPO offer price, subscription, Chalet Hotels IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
- Issue Price of this IPO is Rs 275 – Rs 280 . Check the Live Share Price here Chalet Hotels Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Chalet Hotels IPO Review & Ratings
| Chalet Hotels IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.3/10 |
| Industry Ranking | 7.3/10 |
| Company Background | 8.1/10 |
| Company Reputation | 7.4/10 |
| Competitive Edge | 8.4/10 |
| Financial Statements | 8.5/10 |
| Popularity Index | 7.2/10 |
| Promoters Reputation | 7.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 7.3/10 |
| Overall Ratings | 7.6/10 |
| Star Ratings | ★★★★☆ |
Summary of Chalet Hotels IPO
Chalet Hotel are an owner, developer and asset manager of high-end hotels in key metro cities in India. The hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of March 31, 2018. Their hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments, according to the Horwath Report.
The hotel platform emphasizes strategic locations, efficient design and development, appropriate positioning in hotel segments together with branding and operational tie-ups with leading hospitality companies. The Issue comprises of a Public Issue of Equity shares of face value of Rs.10.00 each fully paid up.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 42.19% and 0.40%, respectively.
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 8,938.16 Millions, Rs. 7,373.54 Millions and Rs.5,824.57 Millions, respectively representing growth of 21.21% from the FY 2017-16 to FY 2018-17. For the period ended March 31, 2018, FY 2016-17 and FY 2015-16 our net profit was Rs.278.52Millions, Rs. 858.97 Millions and Rs. (1,587.83) Millions, respectively, representing a growth of 46.11 % from the FY 2015-16 to FY 2016-17.
- During the financial year 2017-18 the Other Income of our company decreased to Rs356.98 Millions as against Rs. 1,871.83 Millions for the financial year 2016-17 .
- Company’s Net Profit after tax for the year 2017-18 is Rs.284.26 Millions from the year 2017-16 of Rs. 1,274.38 Millions .
The Promoter of this company is Ravi C. Raheja, Neel C. Raheja, K Raheja Corp Private Limited, K Raheja Private Limited, Ivory Properties and Hotels Private Limited, GENEXT HARDWARE &
PARKS PRIVATE LIMITED, TOUCHSTONE PROPERTIES AND HOTELS PRIVATE LIMITED, CAPE TRADING LLP, CAPSTAN TRADING LLP, CASA MARIA PROPERTIES LLP, ANBEE CONSTRUCTIONS LLP, PALM
SHELTER ESTATE DEVELOPMENT LLP, RAGHUKOOL ESTATE DEVELOPMENT LLP AND IVORY PROPERTY TRUST. The lead manager to the issue is JM Financial Limited and the Registrar to this issue is Karvy Computershare Private Limited.
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Chalet Hotels IPO Date
The opening and the closing date of Chalet Hotel IPO is Jan 29, 2019 to Jan 31, 2019.
Chalet Hotels IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1: Jan 29 | 0.01x | 0.36x | 0.00x | 0.07x |
| Day 2: Jan 30 | 0.63x | 0.47x | 0.01x | 0.28x |
| Day 3: Jan 31 | 4.66x | 1.10x | 0.03x | 1.57x |
| – | – | – | – | – |
| Shares Offered or Net Issue | 11,711,444 | 8,884,569 | 20,730,659 | 41,326,672 |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Chalet Hotels IPO Allotment Status
Here, you can find the Allotment Status of this IPO. The issue, allotment of the Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares to successful Bidders pursuant to the Offer.
| Basis of Allotment Finalization | 5-Feb-19 |
| Refunds Initiation | 6-Feb-19 |
| Credit of Shares to Demat Account | 7-Feb-19 |
| Share Listing Date | 8-Feb-19 |
Chalet Hotels IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is Rs 275 – Rs 280 Per Equity Share
Chalet Hotels IPO Equity Share Offering
The Offer for Sale of 24,685,000 Equity Shares of Rs 10/- each, and Issue Price is Rs 280. The Minimum Order Quantity or Market lot is 53 Shares.
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Chalet Hotel Limited – Company Overview
Chalet Hotel is an owner, developer and asset manager of high-end hotels in key metro cities in India. The hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of March 31, 2018. Their hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments, according to the Horwath Report. The hotel platform emphasizes strategic locations, efficient design and development, appropriate positioning in hotel segments together with branding and operational tie-ups with leading hospitality companies.
The Company seek to brand hotels with leading global hospitality brands, which they believe are well matched to the location, size, target customer base and intended hotel segment of their hotel properties. This allows the company to save on the time and cost required to build, develop and maintain their ‘own hotel brand’
The Company is promoted by Ravi C. Raheja, Neel C. Raheja, K Raheja Corp Private Limited, K Raheja Private Limited, Ivory Properties and Hotels Private Limited and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Chalet Hotel Limited
- High-End Branded Hotels Strategically Located in Key Metro Cities of India .
- Active Asset Management Model
- Well Positioned to Benefit from Industry Trends.
- Experienced Management Team
Business strategies of Chalet Hotel Limited
- Focus on Maximizing Performance in Existing Portfolio through Active Asset Management .
- Disciplined Development of Assets in the Current Pipeline
- Expand Portfolio by way of Opportunistic and Accretive Acquisitions
- Maintain a Sustainable Capital Structure and Ensure Prudent Capital Allocation
Chalet Hotel Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Millions) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 37,159.97 | 36,226.90 | 34,376.45 | 33,248.52 | 30,313.43 |
| Total Revenue | 8,938.16 | 7,373.54 | 5,824.57 | 4,414.53 | 5,011.31 |
| Total Expense | 5,781.08 | 4,937.06 | 4,416.67 | 3,772.61 | 4,019.12 |
| Profit After Tax | 284.26 | 1,274.38 | (1,124.89) | (1,263.91) | (1,088.05) |
Earnings per Equity Share (in Millions)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 1.19 | 8.14 | (7.43) |
From the above statements, one could find that the Chalet Hotel Limited may perform well.
Chalet Hotels IPO – Promoters
The Promoter of this company are:
- : RAVI C. RAHEJA,
- NEEL C. RAHEJA,
- K RAHEJA CORP PRIVATE LIMITED,
- K RAHEJA PRIVATE LIMITED,
- IVORY PROPERTIES AND HOTELS PRIVATE LIMITED,
- GENEXT HARDWARE & PARKS PRIVATE LIMITED,
- TOUCHSTONE PROPERTIES AND HOTELS PRIVATE LIMITED,
- CAPE TRADING LLP,
- CAPSTAN TRADING LLP,
- CASA MARIA PROPERTIES LLP,
- ANBEE CONSTRUCTIONS LLP,
- PALM SHELTER ESTATE DEVELOPMENT LLP,
- RAGHUKOOL ESTATE DEVELOPMENT LLP AND
- IVORY PROPERTY TRUST
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
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 approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Chalet Hotels IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | [•] Equity Shares of Rs.10 each |
| Of which: | |
| Fresh Issue | Up to [•] Equity Shares aggregating up to Rs 9,500 million |
| Offer for Sale | Up to 24,685,000 Equity Shares aggregating up to Rs [●] million |
| Of which: | |
| Retail Investors Portion | Not less than [•] Equity Shares or Offer less allocation to QIBs and Non-Institutional Investors |
| Non-Retail Investors Portion | Not less than [•] Equity Shares or Offer less allocation to QIBs and Retail Individual Investors |
Chalet Hotels IPO Issue Object
These are the IPO Issue Objects of the company
- repayment/prepayment of certain indebtedness
- general corporate purposes.
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Chalet 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:
- High-End Branded Hotels Strategically Located in Key Metro Cities of India
- Active Asset Management Model
- Well Positioned to Benefit from Industry Trends
- Experienced Management Team; and
- Backed by Leading Indian Real Estate Developer
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | -7.39 | 5.74 | 30.53 |
| 31-Mar-17 | 7.97 | -27.29 | – |
| 31-Mar-18 | 1.66 | 21.75 | – |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Average | – |
| Highest | – |
| Lowest |
- Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| The Indian Hotels Company Limited | 1 | 1.66 | 146.21 | 2.09 | 41.69 |
| EIH Limited | 2 | 0.91 | 51.27 | 6.63 | 51.66 |
| Lemon Tree Hotels Limited | 10 | 3.14 | 405.83 | 1.17 | 15.81 |
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Manorama Industries IPO Lead Managers
| Lead Managers |
| JM Financial Limited 7th Floor, Cnergy Appasaheb Marathe Marg, Prabhadevi Mumbai 400 025 Maharashtra, India Tel: +91 22 6630 3030, Fax: +91 22 6630 3330 Email: chalet.ipo@jmfl.com Investor grievance email: grievance.ibd@jmfl.com Website: www.jmfl.com Contact Person: Prachee Dhuri SEBI Registration No.: INM000010361 |
Chalet Hotels IPO Registrar to offer
| Registrar to the Offer |
| Karvy Computershare Private Limited Karvy Selenium Tower B, Plot 31-32 Gachibowli, Financial District ,Nanakramguda, Hyderabad 500 032 India Tel: +91 40 6716 2222, Fax: +91 40 2343 1551 E-mail: einward.ris@karvy.com Investor grievance e-mail: chalethotels.ipo@karvy.com Website: https://karisma.karvy.com Contact person: M Murali Krishna SEBI Registration No.: INR000000221 |
Other Details:
- Statutory Auditor – M/s B S R & Co. LLP Chartered Accountants
- Peer Review Auditor – M/s B S R & Co. LLP Chartered Accountants
- Bankers to the Company – Yes bank, ICICI Bank Standard Chartered Bank
Chalet Hotels IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
Chalet Hotels IPO Grey Market Premium
The Chalet Hotels IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Chalet Hotels IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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