ECO Hotels & Resorts Limited (formerly known as Sharad Fibres & Yarn Processors Limited) has announced an extension of the closing date for its ongoing rights issue. The company has pushed the deadline from September 17 to September 22, providing shareholders with additional time to participate in the offer.

Rights Issue Details

The rights issue involves the issuance of up to 1,28,76,808 partly paid-up equity shares with a face value of Rs. 10.00 each. These shares are being offered at a price of Rs. 15.20 per share, which includes a premium of Rs. 5.20. The total aggregate amount of the issue will not exceed Rs. 1,957.27 lakhs.

Offer Ratio and Record Date

Eligible shareholders can subscribe to the rights issue in the ratio of 1 partly paid-up rights equity share for every 4 fully paid-up equity shares held as of the record date, which was set at August 29.

Reason for Extension

The Rights Issue Committee approved the extension to allow shareholders more time to exercise their rights and participate in the issue. This decision aims to ensure maximum participation from eligible shareholders.

Revised Schedule

Public Notification

To ensure widespread awareness of this extension, ECO Hotels & Resorts Limited has published a corrigendum cum addendum advertisement in three newspapers:

1. Financial Express (English Daily, all editions)
2. Jansatta (Hindi Daily, all editions)
3. Metro Vaartha (Ernakulam Daily, Kerala edition)

Investor Action Required

Eligible shareholders who have not yet applied for the rights issue now have until September 22 to submit their applications along with the required payment.

ECO Hotels & Resorts Limited, which operates in the hospitality sector, is using this rights issue as a means to raise capital. The extension of the closing date reflects the company's commitment to providing its shareholders with ample opportunity to participate in its growth plans.

Investors are advised to carefully review the Letter of Offer and other related documents before making their investment decisions. As with any investment, it's important to consider the risks and potential returns associated with participating in the rights issue.

ECO Hotels & Resorts Limited, a pioneering sustainable hospitality chain, has presented an investor presentation outlining its ambitious growth strategy and business operations. The company, which focuses on vegetarian and vegan offerings across mid-premium segments in India, aims to significantly expand its portfolio over the next few years.

Current Portfolio and Expansion Plans

ECO Hotels & Resorts currently manages 475 hotels with zero debt. The company has set an ambitious target of reaching 5,000 keys by 2030, utilizing a mix of leasing, management contracts, and its proprietary EBOT (Eco Hotels Build Operate Transfer) development program.

Operational Footprint

The company's current portfolio includes 10 hotels across various Indian cities:

The company expects its EBITDA to grow from ₹4.22 crores to ₹12.18 crores once these properties are fully operational.

Unique Positioning

ECO Hotels & Resorts positions itself as the world's first net-zero premium value hotel brand. The company leverages advanced technologies such as AI, blockchain, and IoT to enhance its operations and guest experience.

Brand Categories and Revenue Streams

The company operates across four brand categories:

1. Eco Satva
2. The Eco
3. EcoXpress
4. EcoValue

These brands cater to different market segments with average room rates ranging from ₹1,500 to ₹7,499. Revenue streams include room rent, food and beverage services, banquets, and wellness services.

Sustainability Focus

As part of its commitment to sustainability, ECO Hotels & Resorts is working towards achieving net-zero certification for all its properties. The company employs various approaches to reduce its carbon footprint, including the use of off-site modular building technology, rooftop solar and wind energy, and SMART green technologies.

Strategic Business Model

The company's growth strategy includes:

1. Leasing: Taking hotels on long-term leases (10-20 years) and operating them.
2. Management Contracts: Managing hotels for a fee, ensuring monthly profit transfers to the owner.
3. EBOT: A proprietary franchise model tailored for the Indian market, involving 3D volumetric construction for faster execution.

Market Focus

ECO Hotels & Resorts is targeting Tier II and III cities in India, focusing on high-growth areas with rising domestic tourism and demand for budget hotels offering premium experiences. The company is particularly interested in locations that draw regular visitors year-round, such as religious destinations, to maintain stable occupancy rates.

Executive Chairman Vinod Kumar Tripathi signed the presentation, which was submitted to BSE Limited. As ECO Hotels & Resorts Limited continues to expand its footprint in the Indian hospitality sector, its focus on sustainability and innovative business models positions it uniquely in the market.