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Eco Hotels and Resorts successfully raised INR 19.57 crore through a rights issue that saw subscriptions nearly 1.6 times the planned size. The issue, offered at INR 15.2 per share in a 1:4 ratio, received bids for over 2 crore shares against the proposed 1.28 crore shares. The company plans to deploy the funds for long-term hotel property leases, construction advances, security deposits, and general corporate purposes. Leadership emphasized the strong shareholder support as a sign of confidence in the company's growth and strategic plans, aiming for 5,000 keys by 2030.
Eco Hotels and Resorts recently announced that it raised INR 19.57 crore through a rights issue, which was oversubscribed nearly 1.6 times. The rights issue was offered in a 1:4 ratio, meaning shareholders could subscribe to one share for every four shares they already owned, at a price of INR 15.2 per share. Bids for 2,01,78,312 shares were received, surpassing the issue size of 1,28,76,808 shares. Advertisement
The company intends to use the raised funds to lease hotel properties on a long-term basis, provide security deposits to property owners, offer construction advances to accelerate hotel completions where required, and cover general corporate expenses.
Vinod Kumar Tripathi, Executive Chairman of Eco Hotels and Resorts, stated that the strong participation from shareholders reflects confidence in the company's strategic vision and growth plans. He highlighted that the funds would strengthen the balance sheet and support strategic investments in leasing hotel properties across key growth regions in India.
Eco Hotels and Resorts is also focusing on building a robust team nationwide to drive future-focused hospitality initiatives. The company has set a target of achieving 5,000 keys by 2030, reflecting its long-term expansion and operational goals in the hospitality sector.
Source PTI
5th Jun, 2025
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