Royal Orchid Hotels has made plans to raise Rs 150 crore to fund its new projects. The amount will be used to double Royal Orchids Hotels’ total room capacity to 2,000 by the end of the next fiscal. The funds will be raised through a mix of debt and equity. The company will issue non-convertible debentures and/or preferential convertible share warrants, or other financial instruments, including QIP. Royal Orchid Hotels has a number of projects under implementation in Jaipur, Hyderabad, Hospet and Shimoga (Karnataka), Mumbai and Mussoorie. Currently, the company has 1,000 rooms in 13 hotels operational in seven cities across India. It aims to add 1,000 rooms in the next 18 months.
|
