Rakesh Jhunjhunwala hikes stake in Viceroy Hotels

Viceroy Hotels on Monday said investor Rakesh Jhunjhunwala has increased stake in the company to 13.45 per cent with the acquisition of an additional 3.45 per cent for Rs 2.19 crore.

Jhunjhunwala, who earlier owned a little over 10 per cent stake in the hospitality firm, has bought over 14.57 lakh shares in the company from open market on April 4, Viceroy Hotels said in a filing to the BSE.

Post the purchase, his stake in the company has gone up to 13.45 per cent, it added.

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. Viceroy Hotels' scrips closed at Rs 16.70 per share, up 4.70 per cent from the previous close on the BSE.