Hotel Leelaventure Tuesday said the company in coordination with JM Financial Asset Restructuring Company (JMFARC) has been evaluating various options for debt reduction.
The company in coordination with JMFARC "has been evaluating various options for a viable restructuring, including sale/monetisation of non-core assets, sale of hotels, or getting equity from a strategic investor for reduction of debt," Hotel Leelaventure said in a filing to BSE.
The company is in discussion with three to four investors and Brookfield is one of them. "Nothing has been finalised yet," it added.
On Saturday, Hotel Leelaventure said its shareholders had given consent to sell the company's land in Pune to Leela Lace Holdings, a related party, for Rs 130 crore.
On June 11, the company's board had approved a proposal for issuance of up to 125 crore shares of face value of Rs 2 each in one or more tranches to JMFARC.
Shares of Hotel Leelaventure today closed at Rs 17.25 per scrip on BSE, down 1.43 per cent from the previous close.
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