Viceroy Hotels Limited secured overwhelming shareholder approval for its FY26 financials and director re-appointment at its 61st Annual General Meeting on September 10, 2026. Both ordinary resolutions passed with 99.98% support, reflecting strong promoter backing despite minimal public institutional participation.

The meeting, conducted via video conferencing, saw 71 members attend. The voting rights were reckoned as of September 4, 2026. The remote e-voting window remained open from September 7 to September 9, 2026.

Key Discussions

Mr. Gorinka Jaganmohan Rao, Chairperson and Independent Director, chaired the proceedings. He outlined the company’s performance against industry standards and detailed future growth plans. Key updates included:

• The acquisition of SLN Terminus Hotels & Resorts Private Limited, owner of Marriott Executive Apartments in Hyderabad, during FY25-26.
• Completion of renovations at Courtyard by Marriott Hyderabad.
• Targeted completion of the Madhapur project during FY29-30.
• Details regarding the rights issue, which opened on September 3, 2026.

Voting Results Breakdown

Shareholders voted on two ordinary resolutions via remote e-voting and insta-poll. The scrutinizer report from M/s. S.S. Reddy & Associates confirmed the results. Notably, public institutional shareholders held 26,025 shares but cast zero votes, while promoters holding 56,842,105 shares participated fully.

Participation by Category

The detailed voting data reveals a sharp divergence in engagement between promoter and public shareholders. While promoters voted unanimously in favor, public non-institutional shareholders showed mixed sentiment, particularly on the director appointment.

For the re-appointment of Mr. Prabhakar Reddy Solipuram, public non-institutional participation was lower (87,904 votes polled), with 89.23% voting in favor and 10.77% against. No invalid votes were recorded for either resolution.

Governance

M/s. S.S. Reddy & Associates served as the scrutinizer for the e-voting process. The company secretary, C. Siva Kumar Reddy, authenticated the results. The electronic data and relevant records relating to e-voting will be preserved by the Company Secretary after the Chairman approves the minutes.

Viceroy Hotels has filed a pre-issue advertisement for a rights issue of up to 92,03,008 equity shares. The company seeks to raise an aggregate amount not exceeding ₹10,583.46 lakh through the offer.

The shares are priced at ₹115 each, comprising a face value of ₹10 and a premium of ₹105. This pricing represents 11.5 times the face value. Eligible shareholders holding fully paid-up equity shares on the record date of August 20, 2026, can subscribe in the ratio of 6:7.

Issue Timeline

The subscription window remains open for a limited period. Key dates for the process are outlined below:

The Board reserves the right to extend the issue period by up to 30 days from the opening date if necessary.

Application Process

All applications must be submitted through the Applications Supported by Blocked Amount (ASBA) process. Investors are required to use Self-Certified Syndicate Banks (SCSBs) to block the application money. Physical shareholding holders must provide demat account details to the registrar or the company at least two working days before the closing date to ensure credit of rights entitlements.

Kotak Mahindra Bank Limited serves as the banker to the issue, while CARE Ratings Limited acts as the monitoring agency. KFIN Technologies Limited is the registrar.

What the Numbers Show

The rights issue structure implies significant dilution for non-participating shareholders, with nearly 86% additional shares offered relative to existing holdings (6 new shares for every 7 held). The total potential raise of over ₹1,000 crore suggests a substantial capital deployment strategy, though the specific utilization of proceeds is detailed in the Letter of Offer dated August 14, 2026.