Jain group ho­tel IPO

Realty Plus - - News -

Dream Gate­way Ho­tels Pvt Ltd, the flag­ship com­pany of Jain Group, is plan­ning to come out with an ini­tial pub­lic of­fer­ing (IPO) and get listed on the BSE SME. Ex­ec­u­tive di­rec­tor of Jain Group, Rishi Jain said Dream Gate­way Ho­tels would is­sue fresh shares to raise Rs 39 crore from the IPO. The pur­pose of the IPO is to re­duce de­pen­dence on debt and the pro­ceeds of the IPO would be to part fi­nance the ex­pan­sion of the Hol­i­day Inn Kolkata Air­port Ho­tel. The com­pany would also set up two Hol­i­day Inn ho­tels at Dur­ga­pur and Silig­uri. The group has tied up with In­ter­con­ti­nen­tal Ho­tels Group for get­ting the Hol­i­day Inn brand for its prop­er­ties.

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