Samhi Hotels has announced a price band of Rs 119-126 per share for its Rs 13.70-billion primary share sale, which is set to open on Thursday. This pricing represents a valuation of 119-126 times the face value. The public issue includes Rs 12 billion in fresh shares and an offer for sale (OFS) of up to Rs 1.70 billion at the upper end of the price range. Samhi Hotels, headquartered in Gurugram, made this announcement in a statement.In a pre-IPO placement, external investor Blue Chandra sold 10.32 million shares, equivalent to 8.4% of its stake, to prominent investor Madhusudan Kela's wife Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total of Rs 1.30 billion.Samhi Hotels specialises in acquiring and building primary hotels, followed by renovation, rebranding, and re-rating of the properties. In its 13 years of operation, the company added 369 keys in FY23, becoming the third-largest hotel owner by the number of keys. This brings the total number of keys to 4,800 across 31 operating hotels, including the recent acquisition of ACIC last month. The company also has land for constructing a 350-key hotel in MIDC, Navi Mumbai.With this latest acquisition, Samhi Hotels will gain access to new cities like Jaipur and enhance its inventory and market share in Hyderabad, Pune, Chennai, and Ahmedabad. Additionally, the company plans to add two more hotels and 617 keys in existing cities and two new cities, Kolkata and Navi Mumbai, expanding its presence to 14 key urban centres.Some notable names in its portfolio include Hyatt Regency Pune, Courtyard by Marriott Bengaluru, Four Points by Sheraton Ahmedabad and Vizag, Fairfield by Marriott in Chennai Sriperembudur, Coimbatore, Goa, Kharadi, Bengaluru, and Holiday Inn Express across Ahmedabad, Bengaluru, Pune, Gurgaon, Hyderabad, Nashik, and Chennai. The company has not disclosed details about shareholders participating in the OFS.