Kamat Hotels (India) Limited announced a private placement of 5,896,014 warrants at a price of INR 24.25 per warrant for a gross proceeds of INR 142,978,339.5 on December 14, 2022. The warrants can be exercised into one equity share at price of INR 72.75 per share within the period of 18 months. The shares will be issued on a preferential basis to specified promoters and members of the promoter groups and non-promoter persons.

The transaction was approved by the board of directors on the same date. The transaction is subject to necessary approval of the members of the company and other regulatory authorities including BSE Limited, National Stock Exchange of India Limited, Reserve Bank of India.