Chalet Hotels Limited has completed the allotment of 2,00,468 fully paid-up equity shares to eligible employees under its CHL Employee Stock Option Plan 2023. The allotment was approved by the company's Compensation, Nomination and Remuneration Committee through a circular resolution passed on January 2, 2026.

Share Allotment Details

The equity shares were allotted at an exercise price of ₹528.00 per share, with a premium of ₹518.00 per share. Each share carries a face value of ₹10.00. The total amount realized through this exercise of options amounts to ₹10,58,47,104.00.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The newly issued shares rank pari-passu with existing equity shares and are identical in all respects to the company's current equity shares.

ESOP 2023 Scheme Overview

The CHL Employee Stock Option Plan 2023 covers a total of 6,60,891 employee stock options, with each option convertible into one equity share. The pricing formula for the scheme is based on the average of two weeks' prices prior to the grant date of September 4, 2023.

Regulatory Compliance

The allotment has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The scheme is administered by the Compensation, Nomination and Remuneration Committee, with vesting subject to continued employment and potential performance criteria as specified by the committee.

The shares have been issued in dematerialized form under ISIN INE427F01016, with distinctive numbers ranging from 218753433 to 218953900. No lock-in period applies to these shares, and no additional listing fees are payable for this allotment.

Chalet Hotels has published newspaper advertisements for its postal ballot notice seeking shareholder approval for strategic leadership appointments and the ₹171.00 crore Udaipur resort acquisition, fulfilling regulatory compliance requirements.

Regulatory Compliance Update

The company has formally published postal ballot advertisements in leading newspapers on January 1, 2026, pursuant to Regulation 47 of the SEBI Listing Regulations. The advertisements appeared in Financial Express, Free Press Journal, and Navshakti, ensuring wide public dissemination of the voting process.

E-Voting Process Timeline

Shareholders can participate in the electronic voting process for three special resolutions covering key leadership appointments and remuneration approvals. The voting timeline provides a 30-day window for member participation.

Key Resolutions for Approval

The postal ballot seeks member consent for three critical business decisions that will shape the company's leadership structure and strategic direction. These resolutions address both immediate leadership transitions and long-term governance frameworks.

Resolution 1: Managing Director Appointment

Shwetank Singh's appointment as Managing Director and CEO represents a significant leadership transition, bringing 26 years of industry experience to the role.

Resolution 2: Non-Executive Director Transition

Dr. Sanjay Sethi will transition from his role as Managing Director and CEO to Non-Independent Non-Executive Director, ensuring continuity of leadership expertise.

Resolution 3: Director Remuneration Framework

The third resolution establishes a commission-based remuneration structure for Non-Executive Directors, providing a systematic approach to director compensation.

Udaipur Acquisition Details

The board has approved the acquisition of a resort property in Udaipur, Rajasthan, featuring approximately 150 rooms for ₹171.00 crore, subject to due diligence completion and net asset adjustments.

The company has engaged M/s. MMJB & Associates LLP as scrutinizers for the postal ballot process, ensuring transparent and compliant voting procedures. Both proposed appointees are not related to existing Directors, KMPs, or Promoters and are not debarred by SEBI or other regulatory authorities.