Chalet Hotels IPO – Review, DRHP, Allotment, Subscription, GMP Price & more

Chalet 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.


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 Hotels IPOChalet 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 not known yet.


Chalet Hotels IPO Subscription

Day / Date QIB NII RII Total 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.


Chalet Hotels IPO Allotment Status

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 .


Chalet Hotels IPO Price Band

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


Chalet Hotels IPO Equity Share Offering

 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .


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:

  1. : RAVI C. RAHEJA,
  2. NEEL C. RAHEJA,
  3. K RAHEJA CORP PRIVATE LIMITED,
  4. K RAHEJA PRIVATE LIMITED,
  5. IVORY PROPERTIES AND HOTELS PRIVATE LIMITED,
  6. GENEXT HARDWARE & PARKS PRIVATE LIMITED,
  7. TOUCHSTONE PROPERTIES AND HOTELS PRIVATE LIMITED,
  8. CAPE TRADING LLP,
  9. CAPSTAN TRADING LLP,
  10. CASA MARIA PROPERTIES LLP,
  11. ANBEE CONSTRUCTIONS LLP,
  12. PALM SHELTER ESTATE DEVELOPMENT LLP,
  13. RAGHUKOOL ESTATE DEVELOPMENT LLP AND
  14. 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:
Investor grievance email:
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:
Investor grievance e-mail: 
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

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Chalet Hotels IPO News

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