Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Mac Hotels Ltd approved increasing the authorised share capital from Rs. 9 crore to Rs. 18 crore to accommodate a fundraising plan. The company will issue up to 48,00,500 equity shares at Rs. 45 each (a premium of Rs. 35 over face value), raising up to Rs. 21.60 crore, and up to 73,68,712 convertible warrants at the same Rs. 45 price, which could raise up to Rs. 33.16 crore if fully converted within 18 months. The allotments will go to 65 identified investors, including promoters, promoter group entities like Hotel Miramar Comfort Pvt Ltd, and various non-promoter individuals and entities, with promoter holding expected to come down marginally from 61.19% to 56.82% on a fully diluted basis. Additionally, the board gave provisional approval to acquire about 25% of Herald Technocraft Private Limited, a chemicals business, and proposed adding chemicals and related trading to its main objects, signalling a diversification away from its core hotel business. An EGM has been scheduled for March 21, 2026 to seek shareholder approval.
Existing shareholders will see dilution as the equity base more than triples on a fully diluted basis, though promoters are also participating, which signals some confidence. The shift into chemicals alongside a sizeable fundraise and acquisition suggests a strategic pivot, which could reshape the company's risk profile beyond pure hospitality.