Saj Hotels IPO Opens at a 15% Discount to Issue Price

NSE SME: Saj Hotels Limited, one of the hospitality majors, witnessed listing of its Initial Public Offering on NSE SME on October, 07. Yet, shares opened trading at steep 15% discount to the issue price.

The IPO that closed at 5.44 times priced at ₹65 per share with the listing price set at ₹55 per share. It valued 15 percent less and marked a cautious sentiment of the market despite interests of investors.

Key Highlights:

Issue Size: ₹27.63 crores
Price Range: ₹65 per share
Listing Price: ₹55 per share (15% discount)
Subscription Status: 5.44 times

Saj Hotels Limited IPO listing has been a milestone in the company’s efforts to expand its operations and strengthen its financial position. However, it would remain a cause of concern for those investors who subscribed to the IPO due to the discount to the issue price.

The prospect for shares in Saj Hotels Limited would be bright in the near term. All that can be said is that future prospects of the company along with overall market sentiment will become determining factors for the movement of the stock price.