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

June 03, 2022 23:30 IST | ANI Press Release
Tennis player James Blake
Silver Pearl Hospitality and Luxury Spaces Ltd's BSE SME IPO opens on June 6, 2022

New Delhi [India], June 3 (ANI/PNN): Silver Pearl Hospitality and 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 6, 2022, and will close on June 9, 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 Cafe, 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.

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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