Chalet Hotels IPO opens next week, issue size lowered due to volatility

Company has retained fresh issue component, while promoter has decided to sell fewer shares than earlier intended

K Raheja Corp-promoted Chalet Hotels' Rs 1,690-crore initial public offering (IPO) will hit the market next week. Sources say the hotel property owner has lowered the share sale size due to volatile market conditions.

Chalet Hotels plans to raise about Rs 950 crore by fresh equity issuance and the promoter group plans to offload shares worth another Rs 700 crore in the IPO. Earlier, the IPO size was intended to be around Rs 1,900 crore.

Sources say the company has retained the fresh issue component, while the promoter has decided to sell fewer shares than earlier intended.  

Chalet Hotels