INSUBCONTINENT EXCLUSIVE:
MUMBAI: The initial public offer of K Raheja Corp-promoted Chalet Hotels will hit the market next week to raise about Rs 1,640 crore.
The
company will raise about Rs 950 crore by issuing fresh shares and the promoter group plans to offload up to 2,46,85,000 shares worth another
Rs 690 crore in the IPO.
The IPO, which is priced in a range from Rs 275 to Rs 280 per share, will open between next week for subscription
The minimum lot size is 53 shares.
The proposed objects of the net proceeds of the fresh issue are proposed to be utilized for repayment of
certain indebtedness and for general corporate purposes, according to the company.
Chalet Hotels has a different business model in terms of
turnover stood at Rs 930 crore with earnings before interest, depreciation, tax and amortisation (EBIDTA) of Rs 350 crore
