Mayfair Hotel IPO: Finance Trading Times

Mayfair Hotel IPO

Recently, it was the Pride hotels group which was planning to come out with its Pride Hotel IPO (Read Review). Now, another Hotel chain is set to enter the primary market and list on the Indian Stock Exchanges.


Mayfair group, the biggest hotel chain in eastern India, is planning to raise Rs 250 crore through the initial public offering and private equity routes to expand its activities further in the region in the next two years.

What is the size of Mayfair IPO?
The Mayfair Hotel IPO is expected to raise 250 crore Rs. through the IPO.

How will the required capital be raised for Mayfair IPO?
The IPO will help raising Rs 117 crore, private equity will bring in another Rs 40 crore.

How many shares will be offered through the Mayfair Hotels IPO?
The group, which has a total of 1.52 crore shares of face value Rs 10 each, will dilute upto 40-45 % of its stake.

Where does the assets, business valuation & financial results of Mayfair Hotel group stand?
As per the FinancialExpress, Mayfair is proposing to immediately develop a property in Gangtok. The 48-acre property has been taken on lease from the former chief minister of Sikkim, Nar Bahadur Bhandari. A 5-star deluxe spa resort will come up on about 15 acres with facilities for online casino.
In Orissa, the group has acquired 100 acres in Sipakuda village on the shore of the Chilika Lake to develop a 5-start deluxe resort of international standard with golf course and helipad. It is also planning to set up a new hotel in Cuttack, while undertaking repair, renovation and replacements (RRR) of its existing hotels in Bhubaneswar, Puri and Rourkela.

What are the future plans of the company and where will the IPO proceeds be used?
"By 2010, we want to develop at least 11 projects spread over eight locations to continue our leadership position in the eastern region, said group chairman Dilip Ray. According to him, the group hotels would have a total of 576 rooms by then.
Mayfair is also looking at acquiring a hotel in Hyderabad and converting it into a 5-star one.
The company has bought two properties in Darjeeling, where it already has a hotel. It is also looking for a plot at Rajarhat in Kolkata and another in Siliguri. Let’s see how this IPO performs in the markets. Table of Contents
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1 Comment: Post your Comments

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