Kamat Hotels (India) Ltd Share Price

History of Kamat Hotels (India) Ltd

Kamat Hotels (India) Limited (KHIL), promoted by Mumbai based Kamat Group was incorporated on March 21, 1986. The Company is in the hospitality business. Currently, it has hotels in the states of Maharashtra (Mumbai, Pune, Nashik, Murud, Aurangabad), Goa (Benaulim), Orissa (Puri, Konark), Gujarat (Jamnagar) and Uttar Pradesh (Ayodhya, Noida). KHIL is a prominent player in the Indian hospitality industry. It is the flagship company of Kamat Group which was incorporated with the main objective of setting up and running of hotels across India. The Company has 19 operational properties in the 4 & 5-star category, also their Hotels & Resorts are situated in prime locations in various cities like Mumbai, Pune, Nashik, Gujarat, Bhubaneshwar, Konark, Puri, Shimla, Manali, Goa, Chandigarh, Noida ... and Ayodhya etc. having 1,824 operational keys. KHIL came out with its initial public offering in Oct. '94 at a premium of Rs 50 aggregating Rs 30.60 cr and 5.5 lac 14% NCDs of Rs 100 aggregating Rs 5.5 cr. The issue was to expand and modernise The Kamats Plaza, by constructing 252 double rooms with additional facilities including restaurants, discotheques, health clubs, etc. The estimated project cost was Rs 111.76 cr. The company has commenced a new tour and travel division, and also started a hotel and catering institute in Bombay. KHIL has entered into an MoU for managing a 94-room residential hotel at Bandra with conference and other facilities but this Bandra project has been rescheduled due to slackness in the development at the Bandra-Kurla complex. KHIL has purchased 25 acres of land at Kumarakum, Kerala for a resort. Asia's first eco-friendly certified five star hotel 'The Orchid' of the company, became fully operational with an 245 rooms during the year 1999-2000. 'The Orchid' has won prestigious award like the Ecotel Industry Pioneer Status 1999 Award, Green Globe Achievement Award 2000, IH & RA Green Hotelier & Restaurateur Environmental Award 1999 for outstanding contribution to sustainable tourism. The company has also entered into an contract for managing Hotel Siddharth, a 32 room hotel at Nashik, Maharashtra for 35 years. The Building plans for Hotel Siddharth at Nasik have been submitted to the Municipal Corporation for renovation and redevelopment. 'The Himco (India) Limited' amalgamated with the Company pursuant to the Scheme of Amalgamation approved by the Bombay High Court vide Order dated 9th December, 2005. The Company on 21st May, 2009, increased shareholding in B W Highway Star Private Limited from 26% to 75% by acquiring 49% Equity Share Capital of the said Company and consequently, B W Highway Star Private Limited became a Subsidiary of the Company effective from 21st May, 2009. During 2009, the third phase of refurbishing of 'The Orchid' Hotel at Mumbai was completed; completed first phase of the project at Fort Mahodadhi Palace, Puri, Orissa and the 30 rooms of 'Lotus Konark' became operational. During 2010-11, 4.16% share capital of B W Highway Star Private Limited (Subsidiary Company) was transferred to Company out of the 25% share capital of the subsidiary company agreed to be purchased by the Company pursuant to the Share Purchase Agreement dated 8th February, 2010. Consequently, 79.16% share capital of the subsidiary company is presently registered in the name of Company and as per the said Share Purchase Agreement, the remaining 20.84% shares are to be transferred to the Company by 1st February, 2013. Fort Mahodadhi Palace Private Limited became a wholly owned subsidiary of the Company with effect from 30th April, 2011. The name of B W Highway Star Pvt Ltd, subsidiary company was changed to Orchid Hotels Pune Pvt Ltd (OHPPL) effective from April 13, 2012. 'The Orchid', Pune and 'VITS', Pune, units of OHPPL increased the number of operational rooms and other facilities during 2011-12. Further, the 'Orchid Convention Centre' commenced operations in 2012. Fort Mahodadhi Palace Private Limited, Kamats Restaurants (India) Pvt Ltd and Fort Jadhavgadh Hotels Pvt Ltd became 100% subsidiaries of the Company in FY 2011-12 and Jadhavgadh Hotels Pvt Ltd became 100% subsidiary of the Company. The name of Fort Mahodadhi Palace Private Limited, subsidiary company was changed to Fort Mahodadhinivas Palace Private Limited with effect from 23rd July, 2012. During 2012-13, Orchid Hotels Pune Private Limited (OHPPL) became wholly owned subsidiary of the Company upon transfer of 16.67% shares in the paid up capital of OHPPL pursuant to Share Purchase Agreement dated 8th February, 2012. During 2013-14, Jadhavgadh Hotels Private Limited ceased to be a subsidiary of the Company. In 2023-24, Company opened two new units- The Orchid Hotel in Jamnagar, Gujarat and IRA by Orchid Hotels in Sambhajinagar, Maharashtra with effect from 1st December, 2023, and 15th December, 2023, respectively. Apart from these, Company has opened two new hotels; IRA by Orchid Hotels, Ayodhya, Uttar Pradesh with effect from 17th April, 2024, and other, The Orchid - Toyam, Pune, Maharashtra, with effect from 31st May, 2024. The Company has opened new properties across key cities in India including Chandigarh, Noida, Ayodhya, Pune during the Financial Year 2024-25. It has launched new properties, such as IRA by Orchid Hotels, Ayodhya, Uttar Pradesh with effect from 17th April 2024, The Orchid - Toyam, Pune, Maharashtra, with effect from 31st May 2024, The Orchid-Chandigarh Hotel with effect from 15th April, 2025 and IRA by Orchid- Noida with effect from 7th November, 2024, which are leased and managed by the Company.