Rakesh Jhunjhunwala has increased its stake in Viceroy Hotels to 13.45 percent with the acquisition of additional 3.45 percent stake. He has bought over 14.57 lakh shares in the company from open market on April 4 for Rs 2.19 crore.
Earlier, Jhunjhunwala held a bit over 10 percent stake in the hospitality firm. Post the purchase, his stake in the company has gone up to 13.45%.
Based in Hyderabad, the company owns premium hotel properties in Hyderabad, Chennai, Bangalore and Vizag, which are being managed under brands like Courtyard, Marriott and Renaissance. Besides, the company also operates restaurants.
