The shares of Kamat Hotels (India) Ltd., a chain of luxury hotels and hospitality were trading at Rs 109.20 per share as of 13:20 IST. Kamat Hotels is a small-cap company with a market capitalization of Rs 257 crore.
Kamat Hotels has been a multi-bagger stock this year. Its shares have generated multi-bagger returns of 123% so far in this calendar year.
Rs 1,00,000 invested in Kamat Hotels at the start of the year would have become Rs 2,23,000 by now. This would have resulted in multi-bagger gains of Rs 1,23,000 for the investors.
In a recent development, the board of directors of the company approved the issuance of warrants on Wednesday, December 14, 2022. In a filing with exchanges, it notified that it has approved the issuance of up to 58,96,014 convertible warrants to specific Promoters, Members of the Promoter Group, and Non-promoters.
The price has been set at Rs 97 each aggregating to a maximum value of Rs 57.19 crore.
Founded in 1986, Kamat Hotels India or KHIL operates clubs, resorts, heritage hotels, and much more across India. It is also engaged in hotel consultancy, setups, and similar activities. The Orchid is one of the globally recognized hospitality brands from the house of Kamats.
Written by Vikalp Mishra
