(i) Mac Hotels Private Limited at Panaji, Goa was Incorporate on December 20, 1990. The Company is primarily engaged in the business of owning, operating and managing hotels, restaurants, and resorts in Goa since last 25 years. The company has been incorporated with the main object to carry on the business of hotels, restaurant, café, caravan site, apartment house-keeper etc and related services. Our Hotels and Resorts are tourist destinations for domestic as well as international tourists and are one of the frequented hotels in Goa.
(ii) The company has entered into Management Services Agreement (OYO Agreement) with Alcott Town Planners Private Limited on September 09, 2017 for providing the services such as – Managing the day to day operations of the property, manage maintenance and supervision of the property, providing food and beverages services.
Objective of MAC Hotels Limited IPO are:
The object of the Offer is to achieve the benefits of listing the Equity Shares on the Designated Stock Exchange and for the sale of 8,10,000 Equity Shares by the Selling Shareholder (“Hotel Miramar Comfort Private Limited” or “HMCPL”).
Further, The Company expects that the listing of the Equity Shares will enhance our visibility and brand image among our existing and potential customers and provide liquidity to the existing shareholders. Our Company will not receive any proceeds of the Offer and all the proceeds will go to the Selling Shareholder.
Promoters ofMAC Hotels Limited Company are:
Edgar Maximiano Do Rosario Cotta, aged 49 years, is the Promoter and Managing Director of our Company. He is one of the subscribers of Memorandum of Association of our Company. He has been designated as Managing Director on September 01, 2017. He holds a Degree of Master of Arts from Karnatak Unversity. He has approx. 25 years of experience in Hotel Industry. He has been instrumental in formulating the business strategies of our Company.
Edwin E R Cotta, aged 49 years, is the Promoter, Chairman and Whole Time Director of our Company. He has been the Director of the Company since incorporation and is also one of the subscribers of Memorandum of Association of our Company. He has been designated as Chairman and Whole Time Director on September 01, 2017. He has approx. three decades of experience in the field in which company operates. He is entrusted with the responsibility of looking after the overall management and operates the Company
Financials of MAC Hotels Limited IPO:
For the year/period ended (in Rs Lacs)
Profit After Tax
Recommendation on MAC Hotels Limited IPO:
Review and Recommendation of MAC Hotels Limited IPO from IZ team is: 2/10[The SME IPO with an OFS is next to crime. The Issue is priced at very such high valuations on stagnant growth in the last 5 year is hard to digest.]