<article>Shares of <a href="https://www.dealstreetasia.com/?s=Chalet Hotels Ltd" target="_blank" rel="noopener">Chalet Hotels Ltd</a> opened 4% premium on the bourses on Thursday, after its ₹1641 crore initial public offer (IPO) was subscribed 1.57 times last week.</article>

Shares of <a href="https://www.dealstreetasia.com/?s=Chalet Hotels Ltd" target="_blank" rel="noopener">Chalet Hotels Ltd</a> opened 4% premium on the bourses on Thursday, after its ₹1641 crore initial public offer (IPO) was subscribed 1.57 times last week.
Chalet Hotels shares opened 3.93% higher on the BSE at ₹291 a piece compared to the issue price of ₹280, which was the upper end of the price band between ₹275 and ₹280 per share. At 10.31am, Chalet Hotels stock was trading up 1.6% at ₹284 a share, while benchmark 30-share Sensex traded 0.28% higher at 37,074.97 points. In intraday trade, the stock fell as much as 10.66% to ₹250.15 per share.
The Chalet Hotels IPO comprises a fresh issue of ₹950 crore and a secondary market sale of 246.85 crore shares by the promoter group. Promoter holding will decline to roughly 71.2% from 100%. The company will use the fund to pay debt up to ₹720 crore and the balance amount will be used for general corporate purposes.
For first half of 2019, the company reported a loss of ₹43.67 crore while revenue was at ₹469.87 crore. For fiscal year 2018, the company reported a profit of ₹31.16 crore, down 75.55% from ₹127.44 crore a year ago. Revenue rose 23.8% from a year ago to ₹873.78 crore. As of September 2018, the company has total debt of ₹2468 crore.
Chalet Hotels (CHL), a part of K. Raheja Corp group, is the owner, developer and asset manager of high-end hotels in key Indian metro cities. CHL operates across five hotels, with 2,328 keys as of September 30, 2018.
CHL&#8217;s hotels are associated with Marriott group brands (leading global hospitality group) like JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance and Four Points by Sheraton.
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This article was first published on <a href="https://www.livemint.com/market/stock-market-news/chalet-hotels-lists-at-4-premium-on-stock-market-debut-1549515856046.html">livemint.com</a>

The Chalet Hotels IPO comprises a fresh issue of ₹950 crore and a secondary market sale of 246.85 crore shares by the promoter group.

India: Chalet Hotels shares jump 4% on stock market debut

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