CHL’s promoters hike stake

Hospitality player CHL’s promoters have hiked stake in the company. One of the company’s promoters has acquired 4,38,204 equity shares of Rs 2 each on December 11, 2015 and Usha Malhotra, acting in concert with the promoters, has acquired 2,44,075 equity shares of Rs 2 each on the same day.

Following this acquisition, the total stake of the promoters (including persons acting in concert) has increased to 39,924,049 equity shares or 72.83% from 39,241,770 equity shares or 71.58%.

The main objective of the company was to run the business of a 5 - star Deluxe Hotel in South Delhi, which should have all the facilities/comforts as per the needs of the tourist/corporate bodies.