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Chalet Hotels Ltd. debuts on stock exchanges as a premium category, premium brand, say analysts

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By Vivek K. Mobile: 09920183006 Email: indianshowbusiness@gmail.com

The first mainboard IPO of CY2019 – Chalet Hotels Ltd., which is part of the K Raheja Corp. Group, made a positive debut with its listing on the national stock exchanges. The Chalet Hotels Ltd. IPO sized Rs. 1,641 crore was the largest IPO of 2019 and opened in choppy markets. The Offer was oversubscribed 1.58 times in volatile challenging market conditions on strong QIB/ institutional support (Rs. 1,552 crore as against the reserved portion of Rs. 328 crore). The Company attracted marquee anchor investors and allotted 1,75,84,071 equity shares to 27 anchor investors at Rs. 280 per equity share (upper end of the Price Band) aggregating to Rs. 492.35 crore. Anchor investors include: Goldman Sachs, Fidelity, Blackrock, Macquarie, Reliance Capital, HDFC, SBI, ICICI Prudential and UTI amongst others.

At closing market price, the Company will rank amongst the Top 300 on overall market cap basis. On the debut day, the stock closed at a price of Rs 290.40 (+3.71%) on BSE and Rs 291.70 (+4.18%) on NSE. The stock price reached a high of Rs. 300 per equity share, during the intraday trade today (7 February).

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Reel Prime Minister Anupam Kher rings the bell to open stock market as the film ‘The Accidental Prime Minister’ hits the theaters today

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Reel Prime Minister Anupam Kher rings the bell to open stock market as the film ‘The Accidental Prime Minister’ hits the theaters today

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