Chalet Hotels Ltd Share Price – NSE  /  BSE

Hotels & Restaurants, Small Cap

Chalet Hotels approved allotment of 1,26,26,263 equity shares to eligible qualified institutional buyers at the issue price of Rs.792 per equity share, i.e., at a premium of Rs.782 per equity share to the face value of equity share, aggregating to Rs.1000 crore, pursuant to the said qualified institutions placement of equity shares.

Pursuant to the allotment of equity shares in the Issue, the paid-up equity share capital of the company stands increased from Rs.205,47,40,080 consisting of 20,54,74,008 equity shares to Rs.218,10,02,710 consisting of 21,81,00,271 equity shares.

Powered by Capital Market - Live News

The company's board authorized and declared the opening of the issue on Wednesday, 27 March 2024.

The floor price of Rs 780.76 is at a discount of 9.35% to the previous day's closing price of Rs 861.30 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The issue price will be determined by the company in consultation with the book running lead managers appointed in relation to the issue.

Chalet Hotels is an owner, developer, asset manager and operator of high-end hotels in key metro cities in India. CHL portfolio comprises of seven operating hotels, including a hotel with a co-located serviced residence, which are situated across the markets of the Mumbai Metropolitan Region, Hyderabad, Bengaluru and Pune.

The company’s consolidated net profit stood at Rs 70.62 crore in Q3 FY24 as against with Rs 102.34 crore posted in Q3 FY23. Net sales stood at Rs 373.67 crore in Q3 FY24, registering a growth of 29% year on year.

Powered by Capital Market - Live News

Chalet Hotels has launched a qualified institutions placement of equity shares of face value of Rs 10 on 27 March 2024 with floor price of Rs 780.76 per equity share.

Powered by Capital Market - Live News

Chalet Hotels (CHL) announced the execution of definitive agreements for the acquisition of 'COURTYARD BY MARRIOTT ARAVALI RESORT, NCR (CYMA), a 158-room resort. The resort is spread over 14 acres of land, elevating the property's potential for enhanced offerings.

CHL has on 29 February 2024 executed the definitive agreement for admission into the partnership viz. 'Ayushi and Poonam Estates LLP', owner of CYMA. The Enterprise Value for the transaction is at Rs 315 crore (to be adjusted for cash on books). CHL will be concluding the formalities shortly.

Since its commencement in June 2022, the resort has been the preferred choice for leisure travelers, MICE and destination weddings. Strategically located within 1.5 hrs. from New Delhi, Gurgaon and Noida, the resort boasts of its easy accessibility to Indira Gandhi International Airport New Delhi.

The property reported an ADR of Rs ~13,500 for the YTD December FY24 with an occupancy of 44%.

Powered by Capital Market - Live News