Neesa Leisure Ltd., the hospitality arm of the Neesa Group, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for a public issue. The Company is coming out with this public issue to fund the cost of setting up new facilities in tier II and tier III cities of India, viz Raipur, Lucknow and Nasik and repay/prepay some of the high cost debt.
The company is a 'full service provider' in hospitality and leisure space with a presence in Ahmedabad, Bangalore, Gandhinagar, Jaipur, Udaipur, Neemrana, Kerala and Goa.
The company will raise Rs. 200 crores through a Fresh Issue and approximately Rs. 50 crores will be an Offer for Sale by an existing private equity investor. Upto 2,00,000 equity shares are reserved for eligible employees of the Company. The DRHP provides for a Pre-IPO Placement of upto 65 crores. If the Pre-IPO Placement is successfully completed, the total issue size will be reduced to the extent of such Pre-IPO Placement, subject to the net issue size (total issue less employee reservation) of atleast 25% of the post-issue paid-up capital of the Company. Centrum Capital Limited and Axis Bank Limited are the book running lead managers to the Issue.
All properties are equipped with modern amenities and upscale facilities, from restaurants, spa, health club, club facilities and a variety of holiday activities providing integrated services for business and leisure travelers under one roof.
The company is a 'full service provider' in hospitality and leisure space with a presence in Ahmedabad, Bangalore, Gandhinagar, Jaipur, Udaipur, Neemrana, Kerala and Goa.
The company will raise Rs. 200 crores through a Fresh Issue and approximately Rs. 50 crores will be an Offer for Sale by an existing private equity investor. Upto 2,00,000 equity shares are reserved for eligible employees of the Company. The DRHP provides for a Pre-IPO Placement of upto 65 crores. If the Pre-IPO Placement is successfully completed, the total issue size will be reduced to the extent of such Pre-IPO Placement, subject to the net issue size (total issue less employee reservation) of atleast 25% of the post-issue paid-up capital of the Company. Centrum Capital Limited and Axis Bank Limited are the book running lead managers to the Issue.
All properties are equipped with modern amenities and upscale facilities, from restaurants, spa, health club, club facilities and a variety of holiday activities providing integrated services for business and leisure travelers under one roof.
