Sarovar IPO in four years

Sarovar Hotels Pvt Ltd is in the process of hitting the bourses with its initial public offer in another four years' time.

According to Ajay Bakaya, ED, Sarovar Hotels, "though the final decision is yet to be taken, we are looking at an approximately four-year period before we announce our IPO. The size and other financials of the public offer are yet to be finalised."

He said private equity majors Bessemer Venture Partners and New Vernon Private Equity Ltd had invested in Sarovar Hotels during December last.