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Incorporated in 1990, Roopshri Resorts Limited is a Mumbai based company engaged in hospitality services. The company operates Hotel Alexander at Matheran, a hill station near Mumbai. This property is in the category of heritage living with nature.
The Hotel Alexander is taken on lease and license through a one-time refundable security deposit by the company. The company doesn't pay any rentals or license fees to the hotel owners.
Hotel Alexander is one of the oldest hotels in Matheran. It has 13 private cottage rooms and 12 executive rooms of which only 4 private cottage rooms are in operational condition. The hotel offers lodging facilities only. The property is almost 3.75 acres in size. The less than half acres are currently being used for the hotel facilities.
With the fund received from the IPO, the company is planning to renovate the property. The company is also looking for similar opportunities at other locations.
The company has a net worth (promoter's fund) of Rs 4 Cr and debt of Rs 1.57 Cr as on October 31, 2018. The company proposes to repay the debt of Rs 1.50 Cr from the proceeds of the IPO. This will make the company almost debt free.
The competitive strengths of the company are:
1. The hotel is located at Matheran hill station
2. Large hotel property size
3. Experienced promoters
The Promoters of the Company are Mrs. Roopa Shah and Mr. Shreyas Shah.
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Oct-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 55,903.71 | 127.78 | 163.64 | 262.98 | |
| Total Revenue | 193.80 | 143.00 | 40.65 | 36.95 | |
| Profit After Tax | 7.58 | 10.42 | 2.16 | 1.94 | |
The proceeds of the Issue are:
1. Repayment of Loans and
2. Repairs and Restoration of Hotel Alexander at Matheran.
| IPO Opening Date | Mar 19, 2019 |
| IPO Closing Date | Mar 22, 2019 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹20 per equity share |
| Market Lot | 6000 Shares |
| Min Order Quantity | 6000 Shares |
| Listing At | BSE SME |
| Issue Size | 1,800,000 Eq Shares of ₹10 (aggregating up to ₹3.60 Cr) |
The Roopshri Resorts IPO open date is Mar 19, 2019, and the close date is Mar 22, 2019. The issue may list on Apr 1, 2019.
| IPO Open Date | Mar 19, 2019 |
| IPO Close Date | Mar 22, 2019 |
| Basis of Allotment Date | Mar 27, 2019 |
| Initiation of Refunds | Mar 28, 2019 |
| Credit of Shares to Demat Account | Mar 29, 2019 |
| IPO Listing Date | Apr 1, 2019 |
The Roopshri Resorts IPO market lot size is 6000 shares. A retail-individual investor can apply for up to 1 lots (6000 shares or ₹120,000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 6000 | ₹120,000 |
| Maximum | 1 | 6000 | ₹120,000 |
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 62.58% |
The issue is priced exorbitantly. Management claims this business model as the asset-light model and does not own any property. There is no harm in giving this issue a miss.
Read detail review...The Roopshri Resorts IPO is subscribed 1.09 times on 3/22/2019 6:49:04 PM. The public issue subscribed 0.75 times in the retail category, times in the QIB category, and 1.42 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| NII | 1.42 |
| Retail | 0.75 |
| Total | 1.09 |
| Listing Date | Monday, April 1, 2019 |
| BSE Script Code | 542599 |
| NSE Symbol | |
| Listing In | |
| ISIN | INE03WT01017 |
| IPO Price | ₹20 per equity share |
| Face Value | ₹10 per equity share |
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Roopshri Resorts Limited
Hotel Alexander, S. No. 246, Plot No. 99,
Matheran, Tal - Karjat,
Raigad - 410 102
Phone: +91 - 2148 - 230 069
Email: info@roopshriresorts.co.in
Website: http://www.roopshriresorts.co.in/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com
Roopshri Resorts IPO is a SME IPO of 1,800,000 equity shares of the face value of ₹10 aggregating up to ₹3.60 Crores. The issue is priced at ₹20 per equity share. The minimum order quantity is 6000 Shares.
The IPO opens on Mar 19, 2019, and closes on Mar 22, 2019.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The Roopshri Resorts IPO opens on Mar 19, 2019 and closes on Mar 22, 2019.
Roopshri Resorts IPO lot size is 6000 Shares and the minimum order quantity is 6000 Shares.
You can apply in Roopshri Resorts IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Roopshri Resorts IPO will be done on Mar 27, 2019, and the allotted shares will be credited to your demat account by Mar 29, 2019. Check the Roopshri Resorts IPO allotment status.
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