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Zerodha Founders Take 6.72% Stake in Recovering Viceroy Hotels

Zerodha Founders Take 6.72% Stake in Recovering Viceroy Hotels
Zerodha founders Kamath brothers bet on Viceroy Hotels with 6.72% stake after insolvency-led crisis: What changed? · livemint.com

Nithin and Nikhil Kamath, who founded Zerodha, bought a small part of Viceroy Hotels.

The investment was made through two companies and totals 6.72% of Viceroy.

Viceroy had faced serious debt problems and entered an insolvency process.

A tribunal approved a plan to resolve the crisis in October 2023.

The company later brought in fresh funds and its shares began trading again in April 2024.

Viceroy now operates three Marriott-branded hotels in Hyderabad.

It plans to add another hotel there and has a long-term goal of reaching 10,000 rooms across India.

Its FY26 report said revenue and operating earnings increased, although net profit was lower than the previous year because that year included a deferred tax gain.

Key facts

Stake acquired
6.72%
Investment entities
Kamath Associates and Nksquared
Promoter ownership
74%
Creditor dues before resolution
More than ₹1,150 crore
Resolution plan approved
October 2023
Share trading resumed
April 2024, on the NSE and BSE
FY26 revenue and EBITDA
₹149 crore revenue and ₹44.6 crore EBITDA
Long-term room target
10,000 rooms across India

Quotes

Kondareddy Ravinder Reddy

Managing Director and CEO of Viceroy Hotels

“We remain focused on our strategic priorities of expanding our presence across Hyderabad and other key markets in India through a balanced mix of greenfield and brownfield developments, along with selective value-accretive acquisitions”
livemint.com

Sources

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