Asian Hotels (North) Limited has received in-principle approval from both BSE and NSE for its proposed preferential issue of equity shares. The hotel company, which operates Hyatt Regency Delhi, announced the regulatory clearance on January 19, 2026, marking a significant step toward raising capital through the preferential route.

Stock Exchange Approvals Secured

The company received simultaneous approvals from both major Indian stock exchanges on January 19, 2026. BSE granted approval through letter number LOD/PREF/SS/FIP/1547/2026-27, while NSE issued its clearance via letter number NSE/LIST/51488. The approvals cover the issuance of 2,31,80,000 equity shares to non-promoter investors.

Issue Structure and Valuation

The preferential issue involves equity shares with a face value of ₹10.00 each, to be issued at a price not less than ₹330.00 per share. At the minimum issue price, the total fundraising would amount to approximately ₹765.00 crores. The shares will be issued on a preferential basis to non-promoter investors, subject to compliance with regulatory requirements.

Regulatory Compliance Conditions

Both stock exchanges have imposed several mandatory conditions for the preferential issue. The company must file its listing application at the earliest from the date of allotment and obtain all necessary statutory approvals from authorities including SEBI, RBI, and MCA. Additionally, Asian Hotels (North) must comply with all applicable guidelines and regulations as specified in SEBI LODR Regulations 2015 and the Companies Act.

Enhanced Internal Controls Required

The exchanges have specifically advised the company to strengthen internal controls to monitor trading activities by proposed allottees. Key requirements include:

• Obtaining undertakings from allottees confirming no intra-day trading in company scrip until allotment date
• Ensuring compliance with Regulation 167(6) of SEBI ICDR Regulations 2018
• Verifying adherence to Chapter V provisions of SEBI ICDR Regulations

BSE has emphasized that the company must submit its listing application within twenty days from the allotment date, as specified in SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. Non-compliance with this timeline will attract penalties as mentioned in the circular.

Next Steps and Timeline

Following the in-principle approvals, Asian Hotels (North) must complete several procedural requirements before proceeding with the share allotment. The company needs to obtain final statutory approvals, ensure compliance with all regulatory guidelines, and submit required documentation along with applicable fees to both exchanges. The exchanges reserve the right to withdraw approval if any submitted information is found incomplete, incorrect, or in contravention of applicable regulations.

Asian hotels (north) Limited's board of directors has approved a significant fundraising initiative through the issuance of non-convertible debentures worth ₹300 crores. The board meeting, held on January 16, 2026, from 6:00 p.m. to 8:00 p.m. IST, considered and approved this strategic financial move to raise funds through debt instruments.

NCD Issuance Details

The company will issue 3,000 unlisted, senior, secured, redeemable non-convertible debentures on a private placement basis. Each debenture carries a face value of ₹10.00 lakhs, aggregating to a total nominal value of ₹300.00 crores.

Interest Rate and Tenure Structure

The debentures offer an attractive coupon rate of 12.50% per annum, with interest payments scheduled on a monthly basis. The tenure is set at 2 years from the deemed date of allotment, providing investors with a medium-term investment opportunity.

Security and Collateral Framework

The NCDs will be backed by substantial security arrangements to protect investor interests. The company has pledged prime real estate assets as collateral for these debentures.

Primary Security:

• Pari passu first charge on the property consisting of land and building comprising the 5-star Hyatt Regency hotel and commercial block
• Located at Main Ring Road, District Center, Bhikaji Cama Place, RK Puram, New Delhi
• First pari passu charge on movable fixed assets and current assets

Financial Context and Default Status

As of December 31, 2025, the company reported a default amount of ₹770.12 crores on payment of interest and repayment of principal on loans from banks and financial institutions. This disclosure provides transparency regarding the company's current financial obligations and debt servicing challenges.

Regulatory Compliance

The board's decision was communicated to both BSE Limited (Scrip Code: 500023) and National Stock Exchange of India Limited (Symbol: ASIANHOTNR) in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company secretary Tarun Srivastava signed the regulatory filing, ensuring proper documentation and transparency for stakeholders.