Chalet Hotels Limited completed a ₹100 crore private placement of listed, rated, taxable, and transferable commercial papers (CPs) on September 29, 2026. The issuance carries a fixed coupon rate of 6.60% and is rated CRISIL A1+ by CRISIL Ratings Limited.

The transaction involves the allotment of 2,000 CPs with a face value of ₹5,00,000 each. These instruments were issued at a discount, resulting in a total subscription amount of ₹98,46,87,000. The CPs are scheduled to mature in 86 days, with a redemption date set for December 24, 2026.

Instrument Details

The commercial papers are unsecured, meaning no charge or security has been created over the company's assets for this specific debt instrument. They are proposed to be listed on the Wholesale Debt Market (WDM) segment of BSE Limited. The issuance follows the outcome of the Board Meeting held on May 14, 2026, regarding the issue of commercial papers.

Regulatory Compliance

This intimation was submitted pursuant to Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no special rights, interests, or privileges attached to these instruments. Additionally, there have been no delays in payment of interest or principal amounts for more than three months from the due date, nor any defaults recorded for this security.

Chalet Hotels shareholders approved a final dividend of ₹1 per equity share for FY26 during the company’s 41st annual general meeting held on September 21, 2026. The meeting, conducted via video conference, also saw the approval of a special resolution to raise funds through the private placement of debt securities.

Members further ratified the appointment of Mr. Gautam Mehra as an independent director and re-appointed Mr. Ravi Raheja as a director retiring by rotation. The detailed scrutinizer’s report, issued by MMJB & Associates LLP on September 22, 2026, confirmed that all items of business were passed with the requisite majority.

Key Resolutions Passed

The following resolutions were approved by members:

• Adoption of audited standalone and consolidated financial statements for FY26 ended March 31, 2026.
• Approval of the final dividend of ₹1 per equity share for FY25-26.
• Authorization to raise capital via issue of debt securities on a private placement basis.
• Appointment of Mr. Gautam Mehra as an independent director.
• Re-appointment of Mr. Ravi Raheja as a director retiring by rotation.
• Ratification of remuneration payable to the cost auditor.

Voting Results Summary

The voting results indicate strong shareholder support for key financial and governance matters. Dissent was primarily observed in the re-appointment of directors, particularly among institutional investors.

Meeting Proceedings

Mr. Hetal Gandhi, Chairman of the Meeting, noted that Ms. Radhika Piramal and Mr. Arthur DeHaast, independent directors, were absent due to prior commitments. The quorum was present, and representatives of statutory auditors, secretarial auditors, and scrutinizers participated via video conference.

Ms. Christabelle Baptista, Company Secretary, informed members that remote e-voting commenced on September 18, 2026, and concluded on September 20, 2026. The facility remained open for 15 minutes post-meeting conclusion. A total of 46,546 shareholders were on record as of the cut-off date, September 15, 2026.

Auditor Observations

The Chairman stated that there were no qualifications, observations, or comments from statutory or secretarial auditors in their reports for the year ended March 31, 2026, except for an emphasis of matter by the statutory auditors. The detailed scrutinizer’s report was made available on the company’s website and NSDL’s e-voting portal.