Chalet Hotels Limited has submitted the Exchange a copy Srutinizers report of Court Convened General Meeting held on May 13, 2025. Further, the company has informed the Exchange regarding voting results.
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On the reaction day the stock moved 2.3 pts less than Nifty Smallcap 250 and 1.5 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Chalet Hotels held an NCLT-ordered meeting of equity shareholders on May 13, 2025, where members voted on a Scheme of Arrangement and Amalgamation involving Sonmil Industries Private Limited and The Dukes Retreat Private Limited merging into Chalet Hotels. Out of 66,224 shareholders holding 21.84 crore equity shares, 93.80% of shares were polled, and virtually 100% of votes cast (20,49,40,092 out of 20,49,40,097) were in favour of the scheme, with only 5 votes against. The scrutinizer confirmed the resolution was passed with the required three-fourths majority in value. The next step would be seeking final approval from the NCLT to complete the amalgamation.
Positive for Chalet Hotels — the shareholder approval clears a major milestone for expanding its hotel portfolio by absorbing Dukes Retreat (a resort property) and Sonmil Industries. The scheme now moves to NCLT for final sanction, which could take several months; until then, no immediate change to shares or capital structure.