Indian hotel operator Samhi Hotels' IPO oversubscribed five times

Indian hotel operator Samhi Hotels' IPO oversubscribed five times

A Marriott flag hangs at the entrance of the New York Marriott Downtown hotel in Manhattan, New York November 16, 2015. REUTERS/Andrew Kelly

The initial public offering (IPO) of Samhi Hotels, which operates Marriott, Hyatt and IHG hotels in India, was oversubscribed by over five times, inviting bids worth 41.96 billion rupees ($504 million), exchange data showed on Monday.