Incorporated in 1971, Sinclairs Hotels Limited owns and operates comfort and luxury hotels in India for business and leisure travelers. The Company runs a chain of nine hotels and resorts under the brand Sinclairs, namely Sinclairs Burdwan, Sinclairs Siliguri, Sinclairs Darjeeling, Sinclairs Retreat Kalimpong, Sinclairs Retreat Dooars in West Bengal, Sinclairs Gangtok and Sinclairs Yangang in Sikkim, Sinclairs Retreat Ooty in Tamil Nadu and Sinclairs Bayview Port Blair in Andamans. Sinclairs also offer venues for holding conferences, meetings, and seminars in these locations. The properties consistently receive high ratings from travelers for guest comfort, service, food, and conference facilities. Sinclairs recorded a total revenue of Rs. 5733.09 Lacs, Rs. 3433.02 Lacs, and Rs. 2313.88 Lacs in total revenue in fiscal 2023, 2022, and 2021 respectively.
Sinclairs Hotels Buyback 2023 Detail
| Issue Period | October 6, 2023 – October 12, 2023 |
| Security Name | Sinclairs Hotels Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 1,520,000.00 |
| Issue Size (Amount) | ₹30.40 Crores |
| Buyback Price | ₹200 per share |
| Face Value | ₹2 per share |
| Listing At | BSE |
Sinclairs Hotels Buyback 2023 Issue Timetable
| Last Date to buy shares | September 28, 2023 |
| Record Date | September 29, 2023 |
| Offer Opens On | October 6, 2023 |
| Last Date for receipt of Tender Forms | October 12, 2023 |
| Offer Closes On * | October 12, 2023 |
| Finalisation of Buyback Acceptance | October 18, 2023 |
| Last Date for settlment of bids | October 19, 2023 |
| Last Date for Extinguishment of Shares | October 31, 2023 |
* Last Date to Tender shares on Zerodha : October 11, 2023
Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 10 Fully paid-up Equity Shares held on the Record Date. | 228,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 20 Fully paid-up Equity Shares held on the Record Date. | 1,292,000.00 |
Company Financials
Sinclairs Hotels Limited Financial Information (Restated Standalone)
Sinclairs Hotels Limited’s revenue increased by 67% and profit after tax (PAT) rose by 338.21% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | |||
| Revenue | 57.33 | 34.33 | 23.14 |
| Profit After Tax | 31.23 | 7.13 | 3.51 |
| Net Worth | 124.33 | 108.32 | 103.34 |
| Reserves and Surplus | |||
| Total Borrowing | |||
| Amount in ₹ Crore |
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2023 | 170.00 | 144.00 | 161.27 |
| Jul-2023 | 155.00 | 112.00 | 139.19 |
| Jun-2023 | 130.00 | 115.00 | 123.07 |
Necessity of the Issue
The proposed Buy-back will help the Company achieve the following objectives:
- To return surplus cash to its shareholders holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders.
- The Buy Back, which is being implemented through the tender offer involving a reservation for Small Shareholders of 15%. The Company believes that this reservation of 15% for Small Shareholders would benefit a large number of public shareholders.
- The Buy Back may help in improving return on equity.
- The Buy Back gives an option to the shareholders holding Equity Shares of the Company, to either choose to participate and get cash in lieu of Equity Shares or choose not to participate and enjoy a resultant increase in their percentage shareholding.
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Company Contact Information
Sinclairs Hotels Limited
147 Block G, New Alipore,
Kolkata 700053
Phone: +91 98305 56333
Email: cs@sinclairshotels.com
Website: https://www.sinclairshotels.com/