Eco Hotels and Resorts Limited successfully concludes Right Issue - 2,01,78,312 bids received against issue size of 1,28,76,808 Right Equity Shares
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Eco Hotels and Resorts Limited has closed its Rights Issue, receiving bids for 2,01,78,312 shares against an issue size of 1,28,76,808 shares, marking a 1.60 times oversubscription. The company raised approximately INR 19.57 crore through the issue, which was structured in a 1:4 ratio (one share for every four shares held) at INR 15.2 per share, including a premium of INR 5.2 per share. The first call money was set at INR 3.8 per share. Participation came from promoters, senior management, institutional investors, HNIs, and retail investors. The funds will be used for leasing hotel properties, security deposits, construction advances, general corporate expenses, and team building, supporting the company's goal of reaching 5,000 hotel keys by FY 2030.
Strong oversubscription signals healthy investor confidence and strengthens the company's balance sheet for expansion. Existing shareholders who did not participate may see some dilution pressure, while those who subscribed will increase their holdings at the issue price.