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Nithin and Nikhil Kamath take 6.72% stake in Hyderabad's Viceroy Hotels as it raises Rs 105 crore

The Kamaths bought into Viceroy Hotels during the September quarter, as the Hyderabad Marriott operator raises funds through a rights issue. It will also acquire SLN Terminus for Rs 206 crore.

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The numbers

Figures from Restaurant India,

Rights issue price per share: Rs 115
Creditor dues during insolvency: over Rs 1,150 crore

Why it matters to operators and investors

Viceroy is adding a Rs 206 crore acquisition (SLN Terminus) to its Hyderabad Marriott base, so rival hotel operators in the city should expect a larger, better-funded competitor in the local room and events market.

What to watch next

  • Rights issue subscription level and allotment results
  • Viceroy's share price against the Rs 115 rights price
  • Next quarterly shareholding pattern showing any change in the Kamath holding from 6.72%
  • Exchange filing confirming completion of the Rs 206 crore SLN Terminus acquisition
  • Any change in the SLN deal timeline, or new debt raised to fund it

The source

Source Read the source at Restaurant India

Published

Confirmed by Mint

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