BHL files DRHP with SEBI for its proposed IPO

Mumbai, Mar 23 (UNI) Lalit Suri-spearheaded Bharat Hotels Limited which presently operates six luxury hotels in the five-star deluxe segment, has filed its draft red herring prospectus (DRHP) with the Securities&Exchange Board of India (SEBI) for its proposed IPO.

The company proposes to offer up 12 million equity shares of face value of Rs 10 each for cash at an issue price to be determined through the book-building process conducted on the BSE and NSE, an oficial release here today said.

The issue will constitute 14.30 per cent of the fully diluted post-issue equity capital of the company.

Under the terms of the issue, 60 per cent of the issue will be offered to qualified institutional buyers, 10 per cent to non-instututional investors and the remainder 30 per cent to retail investors, the release said.

Bharat Hotels has appointed Kotak Mahindra Capital company DSP Merrill Lynch and Deutsche Equities India as its book-running lead managers to the issue.

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