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CHALET
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About Chalet Hotels
Chalet Hotels Limited was incorporated as a Private Limited Company with the name 'Kenwood Hotels Private Limited' on January 6, 1986. On July 19, 1997, the Company was converted into a Public Company and the name was changed to 'Kenwood Hotels Limited'. On April 6, 1998, the name of Company was further changed to 'K. Raheja Resorts & Hotels Limited'. Thereafter, on May 4, 1999, the name was changed to 'Chalet Hotels Limited'. On the conversion of Company to a Private Limited Company and a fresh Certificate of Incorporation issued by the RoC on October 15, 2011, the name changed to 'Chalet Hotels Private Limited'. Resulting to this, Company converted to a Public Limited Company and name of the Company was changed to 'Chalet Hotels Limited' effective on June 6, 2018.
Chalet Hotels Limited, the hospitality arm of one of India's leading real-estate development group, viz. K Raheja Corp, is an owner, developer, asset manager and operator of hotels under globally leading hospitality brands and resorts in the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Hyderabad, Bengaluru, Pune and Lonavala.
The Company is engaged in business of hospitality (hotels), commercial and retail operations and real estate development. At March 31, 2023, the Company has 6 hotels (and one service apartment building) operating at Powai and Sahar (Mumbai), Vashi (Navi Mumbai), Pune, Bengaluru and Hyderabad, commercial property at Bengaluru and Sahar, Mumbai and is engaged in construction and development of a residential property at Bengaluru.
Chalet Hotels Limited came out with an Initial Public Offering (IPO) of 58,613,571 equity shares of Face Value of Rs 10 each of the company for cash at a price of Rs 280 per equity share (including a share premium of Rs 270 per equity share) aggregating to Rs1614.18 Crores. The offer comprises of a fresh issue of 33,928,571 equity shares aggregating Rs 950 crores by the company (fresh issue) and an offer for sale of 24,685,000 equity shares aggregating to Rs 691.18, comprising an offer for sale of 5,550,000 equity shares aggregating to Rs 155.40 crores by Ravi C Raheja, 5,550,000 equity shares aggregating to Rs 155.40 by Neil C Raheja, 10,784,176 equity shares aggregating to Rs 301.96 crores by K Raheja Corp Pvt. Ltd., 800,000 equity shares aggregating to Rs 22.40 crores by Palm Shelter Estate Development LLP., and 2,000,824 equity shares aggregating to Rs 56.02 crores by Ivory Properties and Hotels Pvt., Ltd, (the selling shareholders). The IPO was priced at Rs 280 per equity share.
IIn FY'21, the Company acquired 20.8% of the Equity Share Capital of Krishna Valley Power Private Limited and 26% of the Equity Share Capital of Sahyadri Renewable Energy Private Limited, being entities engaged in generation of hydropower.
During 2021-22, commercial projects in Mumbai and Bengaluru and the residential project at Bengaluru were recommenced. It completed the 1st phase of renovation and rebranding of Powai Hotel and expanded room inventory at Novotel in Pune.
In 2022-23, the Company acquired 80-room resort property, The Dukes Retreat' at Lonavala; it ventured into the North Indian market with the Delhi International Airport Limited to design, develop and operate a hotel opposite Terminal 3, at the IGI Airport in New Delhi. It opened the first all-women operated hotel - The Westin Hyderabad HITEC City in June 2023.
During 2022-23, the Company commissioned renovation of 121 rooms and the banquet facilities at The Westin Mumbai Powai Lake'; expansion work on 88 rooms at Novotel Pune Nagar Road; construction of the commercial tower at Whitefield, CIGNUS Tower 1 and conversion of the mall at Bengaluru to commercial premises.
In 2022-23, the Company acquired 100% of the Equity Shares of Sonmil Industries Private Limited and accordingly post completion of the transaction, Sonmil was made a wholly owned subsidiary of the Company effective March 23, 2023. Similarly, 82.28% of the Equity Shares of The Dukes Retreat Private Limited was acquired and it became the subsidiary of the Company effective from the March 23, 2023.
In 2022-23, the Transferor Companies viz., Belaire Hotels Private Limited and Seapearl Hotels Private Limited merged with the Company through Scheme of Amalgamation effective from June 19, 2023.
Parent Organisation
Indian Private
Managing Director
Hetal Gandhi
Founded
1986
NSE Symbol
CHALET
Community Discussion
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AngelOne
10th July 2024
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AngelOne
10th July 2024
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Chalet Hotels Ltd FAQs
What is the share price of Chalet Hotels Ltd (CHALET) shares?
Chalet Hotels Ltd (CHALET) share price as of July 26, 2024, on NSE is Rs 835.5 (NSE) and Rs 835.5 (BSE) on BSE.
Can I buy Chalet Hotels Ltd (CHALET) from Angel One?
Yes, You can buy Chalet Hotels Ltd (CHALET) shares by opening a Demat account with Angel One.
How do I buy Chalet Hotels Ltd (CHALET) from Angel One?
Chalet Hotels Ltd (CHALET) share can be bought through the following modes:
1. Direct investment: You can buy Chalet Hotels Ltd (CHALET) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Chalet Hotels Ltd (CHALET) shares.
1. Direct investment: You can buy Chalet Hotels Ltd (CHALET) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Chalet Hotels Ltd (CHALET) shares.
What is the main business of Chalet Hotels?
The main business of Chalet Hotels is to develop and manage hotels across metro cities of Mumbai, Pune, Hyderabad, and Bengaluru. It also undetakes real estate development projects.
Who are the promoters of Chalet Hotels?
The main promoters of Chalet Hotels are Casa Maria Properties LLP, Capstan Trading LLP, Raghukool Estate Development LLP, Touchstone Properties and Hotels Pvt Ltd, Cape Trading LLP, Anbee Construction LLP, K Raheja Pvt Ltd, Neel Chandru Raheja, Jyoti Chandru Raheja, and Ravi Chandru Raheja.
What are the Subsidiaries that comes under Chalet Hotels?
The major subsidiaries that come under Chalet Hotels are Seapearl Hotels Private Limited, Belaire Hotels Private Limited, Chalet Airport Hotel Private Limited, and Chalet Hotels & Properties (Kerala) Private Limited.
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