Hotel Leelaventure rises on plan to sell properties to pay off debt

23 Aug 2016 Evaluate

Hotel Leelaventure is currently trading at Rs. 18.65, up by 0.85 points or 4.78% from its previous closing of Rs. 17.80 on the BSE.

The scrip opened at Rs. 18.30 and has touched a high and low of Rs. 18.80 and Rs. 18.10 respectively. So far 84,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 24.10 on 05-Jan-2016 and a 52 week low of Rs. 16.55 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 18.80 and Rs. 17.05 respectively. The current market cap of the company is Rs. 870.22 crore.

The promoters holding in the company stood at 63.88%, while Institutions and Non-Institutions held 5.42% and 30.69% respectively.

Hotel Leelaventure, one of the leading players in the Indian hospitality industry, is seeking shareholders’ nod to sell properties in Chennai and Delhi to pay off debt. The company, which sold its Goa hotel in September last year, has sought approval from its shareholders for commencement of process of sale of certain undertaking of the company - The Leela Palace, Chennai and/or The Leela Palace, New Delhi.

Recently, in April, the company was planning to sell its five-star property in Chennai. The company had appointed JM Financial Institutional Securities as financial advisor to facilitate the sale. The 326-room property was built on 4.8 acres.

Hotel Leelaventure operates hotels and resorts in India. It also operates spas; and offers facilities for meetings and events, weddings, and social celebrations. The company’s portfolio includes luxury hotels and resorts primarily in Mumbai, Bangalore, Goa, Kovalam, Gurgaon, and Udaipur.




HLV Share Price

18.26 -0.47 (-2.51%)
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