September 30, 2023

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Silver Pearl Hospitality & Luxury Spaces Ltd’s BSE SME IPO opens on June 6, 2022

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1 year ago dsprime

Rajesh Kumar Negi, Managing Director

New Delhi (India), June 3: Silver Pearl Hospitality & Luxury Spaces Ltd., a hospitality company operating in the niche market of the Boutique hotel segment, is coming out with a maiden IPO of 50,00 000 equity shares of Rs. 10 each at a fixed price of Rs. 18 per share to mobilize Rs. 9 cr. The issue opens for subscription on June 06, 2022, and will close on June 09, 2022. Minimum application is to be made for 8000 shares and multiples thereon, thereafter. Post allotment, shares will be listed on BSE SME.

The issue is solely lead managed by Inventure Merchant Banker Services Pvt. Ltd., and Purva Sharegistry (India) Pvt. Ltd. is the registrar to the issue. SVCM Securities Pvt. Ltd. is the market maker for the company.

Its current properties are located in Rakchham, Kinnaur, and Himachal Pradesh. Rakchham village is located in the Touristic Sangla Tehsil of Kinnaur district in Himachal Pradesh, India. It is around 10 km from Chitkul, which is the last village of India near the China Border and around 12 km from Sangla and is located between the two. Rakchham is often known as mini Switzerland and has been the site for many commercial shoots. It is nestled between the majestic snowcapped Kinner Kailash mountain range and lush green meadows with the Baspa River. The first hotel property started operations in FY 19-20. All its hotels, cafes and restaurants are operated under “Osiya”. The company provides authentic hospitality and gives guests a localized and memorable experience. It seeks to cater to family and adventure loving enthusiasts and deliver differentiated yet superior service offerings with a value-for-money proposition.

As on date, the company’s portfolio consists of the following properties Osiya Shambhu Lodge, Osiya Shoshla Café, Osiya Rangnoo Rakchham Retreat, Osiya Tashi Dolma Home, and Osiya Baba Inn Guest Home.

Keeping in view the explosion in demand, wherein revenge travel is trending, the company intends to increase the keys in Rakchham by installing Bubble Tents which will be a first of its kind in Northern India. The company had conducted trial runs in May, wherein the feedback was very positive.

As part of its growth and geographical diversification strategy, it is acquiring a running hotel property in Goa spread over 39000 sq. Feet located at Tamborim, beach Cavelossim. . This property will increase the geographical reach and provide business during the winter season from November to February, which is comparatively a lean season for the properties situated in Rakchham, Himachal Pradesh. Unlike Himachal Pradesh, Goa remains an all-weather tourist attraction.

The promoter, Rajesh Kumar Negi, has approximately two decades of experience in the hotel and hospitality industry. The management team also has substantial experience in the hospitality industry. The strength of its management team and its understanding of the hospitality market enables it to continue to capitalize on current and future market opportunities. The company, through its directors, is also looking for partners in Shimla, Narkhanda, Nako, Tabo and Kaza to give holidaymakers an awesome OSIYA – they prefer to call it AWWSIA- experience at every stop on the Spiti Circuit.

With Covid-19 on the wane and all sectors opening up fully and people being confined to their homes for the last two years, the summer of 2022  promises to be a revival for the tourism industry in general.

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