Chalet Hotels Ltd board approves issue of NCDs, NCNCRPS

The Board of Directors of Chalet Hotels Ltd at its meeting held today i.e., on May 18, 2021 has, approved the issue of Zero Coupon Non-Cumulative, Non-Convertible, Redeemable Preference Shares of Rs.100,000 each amounting to Rs.1,000 million in the aggregate by way of Preferential allotment on Private Placement basis and consequent amendment to the Memorandum and Articles of Association of the Company.

The board also approved the issue of raising of long-term funds not exceeding Rs.6000 million by way of Non-Convertible Debentures, Term Loans or through any other debt instrument in one or more tranches.

Shares of Chalet Hotels Ltd was last trading in BSE at Rs.156 as compared to the previous close of Rs. 148.1. The total number of shares traded during the day was 32057 in over 703 trades.

The stock hit an intraday high of Rs. 160.5 and intraday low of 147.75. The net turnover during the day was Rs. 4955498.

Source : Equity Bulls

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