HDFC Mutual Fund increased its shareholding in Chalet Hotels Limited by 2.07% to 9.11% of the paid-up equity share capital as of July 20, 2026. The acquisition was executed through the open market, involving the purchase of 45,36,556 equity shares. This disclosure was made in accordance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this acquisition, the aggregate holding of the schemes of HDFC Mutual Fund stood at 7.04%, representing 1,54,07,303 shares. The latest purchase has raised the total holding to 1,99,43,859 shares. The paid-up equity share capital of the company is reported as Rs. 2,18,99,41,270, comprising 21,89,94,127 equity shares of Rs. 10 each.

The following table details the change in shareholding:

The acquirer, HDFC Mutual Fund, acting through various schemes, clarified that it does not belong to the promoter or promoter group of Chalet Hotels Limited. The shares of the target company are listed on BSE Limited and National Stock Exchange of India Limited. The disclosure was submitted by Dinesh Bhakade, Lead - Compliance Governance at HDFC Asset Management Company Limited, on behalf of the fund.

Chalet Hotels appointed Manoj Agarwal as Chief Growth and Product Officer effective July 20, 2026. The appointment strengthens the company's senior management team as it focuses on growth and product development strategies. Agarwal assumes the role as a member of the senior management pursuant to Regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agarwal brings 23 years of experience spanning hospitality, real estate, and infrastructure. His expertise includes business development, asset management, portfolio investment, asset acquisitions, corporate finance, M&A advisory, fund raising, valuations, and strategic consulting.

Appointment Details

The key details of the appointment are outlined below:

Professional Background

Prior to joining Chalet Hotels, Agarwal served as Chief Operating Officer – Hospitality at Brigade Hotel Ventures Ltd. In that capacity, he led the growth and performance of a portfolio of nine operational hotels operated by Marriott, Accor, and IHG. He also oversaw product development, construction, and design, while managing a self-operated portfolio of five lifestyle clubs and two convention centers. Agarwal is a Chartered Accountant and Company Secretary, and holds a B.Com. (Hons.) and an LL.B. degree.