Portfolio Focus: Neesa Leisure - Axis PE Investee Company

Here is another one in our Portfolio focus series.

Neesa Leisure, a flagship company of Neesa Group, runs a chain of hotels under the brand name of Cambay. It has ten operational properties spread across India with an aggregate inventory of 947 rooms. It has presence in Ahmedabad, Bangalore, Gandhinagar, Jaipur, Udaipur, Neemrana, Kerala and Goa.

Neesa Leisure Ltd., sets the stage for IPO, files DRHP with SEBI

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.

Hospitality Chain Neesa Lesiure Ltd; plans IPO; files DRHP with SEBI

Ahmedabad, April 1: Neesa Leisure Ltd.,(NLL), a Gujarat based Integrated Hospitality company, has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for entering the capital market with its initial public offering.

The company intends to raise about Rs.200 crores through the process with additional component of offer for sale of about Rs.50 crores by private equity investors. Thus the total amount it aims to raise through its maiden public offering is approx Rs. 250 crores. Company said it may consider to raise upto Rs. 65 crores as pre-IPO placement.

Centrum Capital Limited and Axis Bank Ltd. are the book running lead managers to the issue.

It's destination Cambay for ex-babu Sanjay Gupta

GANDHINAGAR: Life has come a full circle for Sanjay Gupta, a 1985 batch IAS officer who resigned from the service in 2002 to join the Adani group as CEO. Gupta, 48, who has now turned a successful hotelier, is poised to take over one of the most ambitious projects conceived by chief minister Narendra Modi.

The Rs 12,000-crore project will connect, in a phased manner, Gandhinagar, Ahmedabad and Dholera on the tip of the Gulf of Cambay, where a special economic zone is being developed.

Expand the Seamless Hospitality Services and all Excitement

For over six years Cambay Hotels & Resorts has thrived to create a collection of some of the finest & most competitive hotels and resorts in India. Today 'Cambay' is continuing to expand significantly into resort destinations across the region, leveraging its immense experience in leisure-oriented hotels and resorts to create the new successes of the years ahead. The fast-changing, highly-competitive leisure hospitality market requires specialized knowledge and a strategic understanding of what builds short-, medium- and long-term success. Cambay brings this expertise to every project.