Roopshri Resorts Limited IPO

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(i) They are a hospitality company which is currently operating “Hotel Alexander” at Matheran, which is a popular hill station in Maharashtra. Hotel Alexander is one of the oldest hotel properties in Matheran and has been in existence operating under this brand for over 3 decades.

(ii) The property is located in a secluded hillside and is ideal for getting away from the city’s hustle and bustle. The Hotel is around 3 hours by road from Mumbai and around 2 hours from Pune, both of which are the major customer segment of the Hotel.

(iii) The company has been operating as a service provider for this Hotel over the years and thereafter they have recently taken the hotel property on leave and license from its owner. The Hotel had not been operating to full capacity due to the poor condition of the hotel facilities and hence the company shall be conducting restoration and repairs work and shall be making the Hotel fully operational and increase its scale of operation.

(iv) The Hotel comprises of 13 private cottage rooms and 12 executive rooms, of which only 4 private cottage rooms are in operational condition. Further, the hotel is currently only offering lodging facilities. The company is proposing to renovate this property and increase its operational capacity and also rebuild its boarding facilities to be able to offer “full lodging and boarding facilities” to its customers. The look and feel of the property are of “heritage living with nature” and does not require large amounts of investment w.r.t state of the art interiors etc. This makes this a value for money proposition. 

Roopshri Resorts Limited IPO Stock Quote & Charts

23.00

-4.17%

  • Open: 24.25
  • High - Low: 24.25 - 23.00
  • Previous Close: 24.00
  • Total Traded Volume: 18000
  • Updated On: 22-Oct-2019

Objects of the Roopshri Resorts Limited IPO:

The Company is Issuing 18,00,000 Shares at Rs. 20 a piece thereby raising 3.6 Cr from the Proceed for the Following Items. A. Repayment of Loans= 1.5 Cr B. Repairs and Restoration of Hotel Alexander at Matheran = 1.6905 Cr C. General Corporate Purposes = 15.95 Lakh

Roopshri Resorts Limited IPO Details:

Open Date: Mar 19 2019
Close Date: Mar 22 2019
Total Shares: 1,800,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price IPO
Issue Size: 3.6 Cr.
Lot Size: 6000 Shares
Issue Price: ₹ 20 Per Equity Share
Listing At: BSE SME
Listing Date: Apr 01 2019

Financials of Roopshri Resorts Limited IPO:

Year Revenue('000) PAT('000) EBITDA('000) EBITDA Margins Profit Margins Shares('000) EPS
FY16 36.95 1.94 2.97 8.0% 5.25% 10.02 0.19
FY17 40.65 2.16 3.63 8.9% 5.31% 10.02 0.22
FY18 143 10.42 23.52 16.4% 7.29% 10.02 1.04
7MFY19 193.8 7.58 43.82 22.6% 3.91% 3010.02 0.0043
Post Issue 4810.02 0.0027

Recommendation on Roopshri Resorts Limited IPO:

Review and Recommendation of Roopshri Resorts Limited IPO from IZ team are: 2/10. [ There is a sudden jump in profitability in FY18 and 7MFY19 financials. The valuation is also very stretched. The business model of Hotel is very competitive.  ]

Lead Manager of Roopshri Resorts Limited IPO:

  1. Aryaman Financial Services Limited

Registrar of Roopshri Resorts Limited IPO:

  1. Bigshare Services Private Limited

Bid Details of Roopshri Resorts Limited IPO as on
22 Mar 2019 | 11:58:03 PM

Category No.of shares offered No. of shares bid
852,000 1,212,000
852,000 642,000
96,000 96,000
1,800,000 1,950,000
QIBs No
QIBs+HNIs Subscription 1.42X
Retail Subscription 0.75X
Total Subscription 1.09X

Discussion on Roopshri Resorts Limited IPO: