Chalet Hotels Limited Raises ₹1,000 Crore through QIP

Chalet Hotels Limited raised ₹1,000 crore through a Qualified Institutional Placement (QIP). The issue opened on March 27, 2024 and closed on April 2, 2024.

The company informed in an exchange filing that the Qualified Institutions Placement Committee at its meeting held today, i.e., April 3, 2024, has approved allotment of 1,26,26,263 Equity Shares to eligible Qualified Institutional Buyers at an issue price of ₹792 per equity share, i.e., at a premium of ₹782 per equity share to the face value of equity share, aggregating to ₹10,000 million, pursuant to the said Qualified Institutions Placement of Equity Shares.

The Indian hotel chain Chalet Hotels said, “Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the company stands increased from ₹205,47,40,080 consisting of 20,54,74,008 Equity Shares to ₹218,10,02,710 consisting of 21,81,00,271 Equity Shares.”

Among the shares issued in the Qualified Institutions Placement, the Smallcap World Fund issued the biggest quantum of shares at 29%, followed by SBI MF, Axis Mutual Fund and ICICI Prudential.

Here’s a list of allottees who have been allotted over 5% of the equity shares issued in the Qualified Institutions Placement

Post the allotment of shares, the paid-up equity share capital of Chalet Hotels Limited increased to ₹218.1 crore from ₹205.47 crore.

In FY 2023, the company reported a net profit of ₹183.10 crore, which is ~361% higher than the net profit of ₹-70.15 crore during FY 2022.

On April 3, 2024, the Chalet Hotels share price opened at ₹878.50, touching the day’s high at ₹883.70, as of 9:53 AM on the NSE.

About Chalet Hotels Limited

Chalet Hotels Limited is involved in the business of hospitality and real estate development. They offer accommodation and food services through hotels, inns, resorts, holiday homes, hostels, and more.

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