the details of Memorandum of Understanding and Agreement enter between the Company and other party has been mention in attached outcome of Board Meeting.
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HBG Hotels Limited's Board meeting on May 8, 2026 approved several key matters. The company recommended an interim dividend of Rs. 0.15 per equity share (1.5%) and Rs. 0.10 per preference share (1%), with May 15, 2026 as the record date. The Board also approved seeking NSE listing alongside BSE. Regarding warrants, 4,45,000 convertible warrants (allotted in October 2024) failed to convert within the 18-month deadline, resulting in forfeiture of the 25% subscription amount. Subsidiary Palolem Resorts LLP entered a management agreement with Rajscape Hotels (Tree of Life/Taj Group) for the Phoenix Castle House Resort in Goa. Separately, HBG Hotels signed multiple agreements with Marriott Hotels India, Starwood Hotels, and Global Hospitality Licensing for constructing and operating a new hotel in Thiruvananthapuram, Kerala. CBRE South Asia was appointed for a feasibility study on a Branded Residences project in Bambolim, Goa.
The dividend signals financial health, while the warrant forfeiture reduces the potential equity dilution. The NSE listing would improve stock liquidity. More significantly, the Taj Group and Marriott/Starwood agreements represent major brand partnerships that could enhance revenue and property value, signalling strategic expansion in the hospitality sector.