Chalet Hotels Raises Funds to Refinance Debt and Fuel Growth

Chalet Hotels Ltd has announced plans to raise up to Rs 600 crore through the issuance of non-convertible debentures (NCDs) and promoter borrowings. The company's board approved raising Rs 500 crore via NCDs or other debt instruments to refinance high-cost debt.

This move comes as Chalet Hotels aims to capitalize on the industry upcycle, with ICICI Securities projecting an 18% CAGR in hotel EBITDA over FY23-26E.

The fund-raising initiative reflects the company's strategy to optimize its capital structure and support its expansion plans in the hospitality sector.

Source: CNBC TV18