Chalet Hotels launches QIP to raise Rs.1,200 cr

Chalet Hotels launches QIP to raise Rs.1,200 cr

Chalet Hotels has launched a QIP issue at a floor price of Rs.780.76 per share, which is nearly at 10% discount to Wednesday’s closing price of Rs.870.15. The total issue size is said to be Rs.1,200 crore.

Chalet Hotels had stated that it intended to use the proceeds towards pre-payment and/or repayment of debt; organic and inorganic growth/expansion; redemption/restructuring of preference shares or other outstanding securities along with other general corporate purposes. (28 March 2024 @ 12.30 pm)