The board of Kamat Hotels (India) has approved allotment of debentures worth Rs 297.50 crore to non promoters.
The company will allot 29,750, 14% secured, rated, listed, redeemable, non convertible debentures having face value of Rs 1 lakh each to four non promoters. The said debentures will be listed on the stock exchanges.The investors include NCUBE Ventures, SBI Funds Management, Purple Clover Tree and SBI FM Special Situation Fund I.
Kamat Hotels (India) is engaged in the hospitality business. The company reported consolidated net profit of Rs 2.37 crore in Q2 FY23 as compared to net loss of Rs 6.83 crore in Q2 FY22. Net sales surged 86.4% YoY to Rs 61.73 crore in Q2 FY23.
The scrip rose 0.63% to Rs 126.85 on the BSE.
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