Chalet Hotels likely to raise up to Rs 1,200 crore via QIP at Rs 775 per share

Chalet Hotels announces QIP at floor price of Rs 780.76 per share, likely to raise up to Rs 1,200 crore

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26 Aug, 2025 12:21

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Chalet Hotels' board of directors on March 27 approved raising funds by Qualified Institutional Placement (QIP). Quoting sources, CNBC-TV18 reported that the hospitality firm is looking to raise up to Rs 1,200 crore through the QIP.

In a stock exchange filing, Chalet Hotels said the floor price for the QIP has been fixed at Rs 780.76 per equity share, but the company can offer a discount of up to 5 percent on this price. CNBC-TV18 reported that the issue price will be Rs 755 per share.

"The company may at its discretion offer a discount of not more than 5 percent on the floor price so calculated for the issue," said the company in a exchange filing. On March 27, Chalet Hotels' shares on BSE closed nearly flat at Rs 870.15.

The company said, "The issue price will be determined by the company in consultation with the Book Running Lead Managers appointed in relation to the issue."

A week ago, Chalet Hotels' board had approved raising Rs 2,000 crore through public or private offerings, including a QIP.

Financials

The company's revenue in Q3FY24 increased to Rs 340 crore YoY. The company's net profit increased 91 percent YoY to Rs 71 crore in the same period.

Sanjay Sethi, MD and CEO, Chalet Hotels Limited post its Q3FY24 results had said, “We are pleased to record another strong quarter with highest-ever revenue and EBITDA. With a strong pipeline for expansion, healthy operating performances and a team that continues to excel, we remain excited about the foreseeable future for our company.”