Chalet Hotels rose 1.35% to Rs 872.90 after the company's board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 780.76 per share.
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.
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The companys 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.
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