Chalet Hotels’ shares went up by 5% on March 28, as investors felt happy about it. The company’s board of directors said yes to a plan to get more money through a Qualified Institutional Placement (QIP).
They decided that each share in the QIP will cost at least Rs 780.76, but they might give a discount of up to 5%. This price is 10.4% lower than the closing price of Rs 871.75 on the National Stock Exchange (NSE) the day before.
A week ago, Chalet Hotels’ board had said they want to raise Rs 2,000 crore by selling shares to the public or private investors, including the QIP.
At 12:17 pm, the shares were being traded for ₹892.00 on the NSE, which is 2.32% higher than before. This shows that investors are feeling good about the company’s plan to get more money.
