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)|
|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.
|Issue Open||Mar 19, 2019 - Mar 22, 2019|
|Issue Type||Fixed Price Issue IPO|
|Issue Size||1,800,000 Eq Shares of Rs 10 |
(aggregating up to Rs 3.60 Cr)
|Face Value||Rs 10 Per Equity Share|
|Issue Price||Rs 20 Per Equity Share|
|Market Lot||6000 Shares|
|Min Order Quantity||6000 Shares|
|Listing At||BSE SME|
|Bid/Offer Opens On||Mar 19, 2019|
|Bid/Offer Closes On||Mar 22, 2019|
|Finalisation of Basis of Allotment||Mar 27, 2019|
|Initiation of Refunds||Mar 28, 2019|
|Credit of Shares to Demat Acct:||Mar 29, 2019|
|IPO Shares Listing Date:||Apr 1, 2019|
|Pre Issue Share Holding||100%|
|Post Issue Share Holding||62.58%|
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