~ SAMHI Hotels Limited, the third largest hotel ownership and asset management platform in India, has completed its initial public offering (IPO). The company's shares are listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) and have begun trading under the ticker symbol SAMHI.

Equity International, a private equity firm founded by Sam Zell, made its first investment in SAMHI in 2011 and has been its largest shareholder for most of its history. Blue Chandra Pte. Ltd., an affiliate company of Equity International, has sold approximately 50% of its equity holdings in the company in conjunction with the IPO.

Ashish Jakhanwala, chairman, managing director and chief executive officer of SAMHI said that Equity International's investment was essential to SAMHI's success. He added that he wished Sam could be here to celebrate this important milestone with them.

Equity International recognized a compelling capital deployment opportunity in both the concept and Ashish Jakhanwala's leadership. India's strong economic growth and rapid urbanization provided long-term tailwinds for India's travel and tourism sector. SAMHI's strategy to scale a hospitality-focused platform using international brands differentiated it from most competitors.

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Tom Heneghan, chief executive officer of Equity International said that SAMHI's IPO is a testament to Sam Zell's willingness to invest in an entrepreneur and Ashish's determination and resilience to see this IPO through and make Sam proud. He added that despite facing challenges due to the pandemic, SAMHI is flourishing more than a decade after Equity International's investment.

SAMHI Hotels Limited has successfully completed its initial public offering (IPO), with shares now trading on both BSE Limited (BSE) and National Stock Exchange of India Limited (NSE). The company was supported by Equity International, a private equity firm founded by Sam Zell which made its first investment in 2011. Blue Chandra Pte Ltd., an affiliate company of Equity International sold approximately 50% of their equity holdings as part of the IPO process.

Ashish Jakhanwala, chairman, managing director and chief executive officer of SAMHI expressed his gratitude towards Equity International for their support throughout their journey as well as his wish for Sam Zell to be present at this important milestone celebration. Tom Heneghan, chief executive officer of Equity International praised both Sam Zell's willingness to invest in an entrepreneur as well as Ashish's determination which enabled them to complete this IPO despite facing challenges due to the pandemic.

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