Hotel Leela Venture is reportedly planning to raise Rs1 000 crore by selling shares or other securities to pare debt. The company’s board has approved an enabling resolution to raise the funds by selling shares, convertible debentures, global depository receipts, American depository receipts and or such other securities either through preferential issue or qualified institutional placement or private placement in one or more tranches at an appropriate time.
Hotel Leelaventure operates hotels and resorts in India. It also operates spas; and offers facilities for meetings and events, weddings, and social celebrations. The company’s portfolio includes luxury hotels and resorts primarily in Mumbai, Bangalore, Goa, Kovalam, Gurgaon, and Udaipur.
