Vikram Kamats Hospitality has announced the commencement of operations at its new hotel, VITS Select Nashik, marking a significant milestone in the company's expansion strategy in Maharashtra. The hotel is operated under the company's material subsidiary, Vitizen Hotels Limited, which had previously secured a long-term lease for the property.

Hotel Operations and Specifications

VITS Select Nashik has officially commenced operations at Survey No. 233/1, Plot No. 4, Panchavati, Rasbihari-Meri Link Road, Nashik. The hotel currently features 24 rooms across multiple categories and is strategically positioned to serve religious, business, corporate, and tourist travelers.

Strategic Location and Connectivity

The hotel's location in Panchavati offers excellent connectivity to key transportation hubs and tourist destinations. The property is strategically positioned to capitalize on Nashik's significance as both a commercial and religious center.

Facilities and Amenities

VITS Select Nashik offers comprehensive hospitality services designed to deliver a smart, comfortable, and value-based experience. The hotel features the group's signature Elite Restaurant, serving Indian, South Indian, Italian, Continental, and Chinese cuisines. Additional amenities include 24-hour power backup, 24-hour hot water, Wi-Fi connectivity, doctor-on-call facility, laundry services, and parking facilities.

Business Impact and Growth Strategy

The commencement of operations at VITS Select Nashik strengthens the VITS brand presence in Maharashtra and supports the company's expansion strategy across key commercial and religious centers in the state. This development represents the materialization of Vikram Kamats Hospitality's earlier announced expansion plans, with operations beginning ahead of the initially projected timeline.

The hotel's operational launch is expected to contribute positively to the company's consolidated revenue and reinforces its commitment to expanding its hospitality portfolio in strategic tier-2 city locations across India.

Atal Realtech Limited , a company currently listed on the BSE SME Platform, has announced a significant move towards expanding its market presence. The company's Board of Directors has given the green light for migrating its equity shares listing from the BSE SME Platform to the Main Board of both BSE Limited and the National Stock Exchange of India Limited (NSE).

Key Points of the Migration Approval

• Board Approval: The Board of Directors has approved the migration of the company's equity shares.
• Current Listing: Atal Realtech is presently listed on the BSE SME Platform.
• Target Boards: The company aims to list on the Main Board of BSE Limited and the National Stock Exchange of India Limited.
• Regulatory Approvals: The migration is subject to approvals from BSE, NSE, shareholders, and other regulatory bodies.

Next Steps for Shareholders

• Postal Ballot: A postal ballot notice will be sent to shareholders for their approval.
• Electronic Communication: The notice will be sent electronically to the registered email addresses of shareholders.
• Cut-off Date: The eligibility for shareholders to participate in the postal ballot is set at June 3, 2022.

This strategic move by Atal Realtech signifies a potential leap in the company's growth trajectory. Migration to the main boards of BSE and NSE could offer several advantages, including increased visibility, potentially higher trading volumes, and access to a broader investor base.

Shareholders and potential investors should note that this migration is still subject to various approvals and is not yet finalized. The company will likely provide further updates as it progresses through the regulatory requirements and shareholder voting process.

As always, investors are advised to conduct their own research and consider their financial goals before making any investment decisions based on this development.