Neesa Group's Hospitality Chain Files DRHP With SEBI

Gandhinagar, Gujarat India (PressExposure) April 13, 2011 -- Neesa Leisure Ltd., (NLL), a Gujarat based Integrated Hospitality Company, has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for entering the capital market with its initial public offering.

The company intends to raise about Rs.200 crores through the process with additional component of offer for sale of about Rs.50 crores by private equity investors. Thus the total amount it aims to raise through its maiden public offering is approx Rs. 250 crores. Company said it may consider to raise upto Rs. 65 crores as pre-IPO placement.

Centrum Capital Limited and Axis Bank Ltd. are the book running lead managers to the issue.

Promoted by Sanjay Gupta and Neelu Gupta, NLL operates and manages hotels, resorts, spas, clubs, golf, vacation ownership services and hospitality education. Sanjay Gupta , 47 years, is a Civil Engineer from IIT Roorkhe, holding a Diploma in Business Finance from ICFAI, who joined the Indian Administrative Service in the year 1985 and played a key role by implementing various policy initiatives in the Tourism, Industry, Energy and Infrastructure Sector in Gujarat and held different positions in the Government of Gujarat during his 17 years tenure.

The company is positioned as a 'full service provider' in hospitality space, having significant geographical spread of hotels & resorts including presence in Ahmedabad, Bengaluru, Gandhinagar, Jaipur, Udaipur, Neemrana, Kerala and Goa. Its hotels and resorts are strategically located with a blend of "Business cum Leisure for our business and corporate customers. The issue proceeds will be used for further expansion activities in Tier2, Tier3 cities across India. The company plans to develop new properties in Lucknow, Raipur and Nasik.

Development of these luxurious properties in a short span of 6 years has given the company a dominant position in two large markets - Gujarat and Rajasthan. With in-house technical and construction expertise to develop properties starting from land acquisition, designing, master planning, project management, the company has capacity to execute large scale integrated hospitality projects.

All properties are well equipped with modern amenities and upscale facilities, such as restaurants, spa, health club, club facilities and a variety of holiday activities making an integrated hospitality and hotel company. Certified as ISO 9001:2008 for quality management services, the company has customer centric operation through its effective Customer Relationship Management solutions.

Due to the high and diverse economic growth in the country over the past few years, Tier II cities in India are rapidly turning into MICE destinations. This being a huge potential for the company, it intends to exploit the opportunity by having properties at strategic locations in target cities. Company operates its properties under the brand name of 'CAMBAY". The company intends to leverage on its brand presence and its years of expertise by increasing the number of hotels on management contract basis and franchise basis.

Company has also developed a substantial multiple campus hospitality education business to address the issue of shortage of trained manpower in operational and managerial cadres in hospitality industry.

Company also has tie up and affiliation with RCI India to provide multiple resort access worldwide to its vacation ownership members.

Shares offered through the IPO are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

About NEESA LEISURE LTD

Neesa Leisure Ltd., is a company based in Gandhinagar, Gujarat. Its flagship brand Cambay was established in 2005. It is a closely held public limited company, that is on its way to becoming an Indian hospitality major in the near future. During the initial stages of development the company has acquired properties in various cities i.e. Ahmedabad, Gandhinagar, Jodhpur, Jaipur, Udaipur, Gurgaon and Neemrana for structuring hospitality masterpieces.

Press Release Source: http://PressExposure.com/PR/NEESA_LEISURE_LTD.html

Press Release Submitted On: April 13, 2011 at 6:02 am
This article has been viewed 13913 time(s).