Chalet Hotels shares gain over 4 pc in debut trade

Shares of Chalet Hotels Ltd ended with over 4 per cent gains in debut trade on Thursday against its issue price of Rs 280.

Shares of the company, which owns, develops and manages high-end hotels in key metro cities in the country, settled at Rs 290.40 apiece, up 3.71 per cent from the issue price on the BSE.

It opened the day at Rs 291, a gain of 3.92 per cent. During the day, the stock gained 5.46 per cent to Rs 295.30.

At the National Stock Exchange (NSE), shares closed at Rs 291.95 apiece, up 4.26 per cent.

On the traded volume front, 9.45 lakh shares changed hands on the BSE and over 94 lakh shares were traded on the NSE.

The company's market valuation stood at Rs 5,953.89 crore on the BSE.

Chalet Hotels' initial public offering (IPO) was open for subscription between January 29 and 31, and was in the price range of Rs 275-280 per share.

The Rs 1,641-crore IPO was subscribed 1.57 times.

JM Financial, Axis Capital and Morgan Stanley India Company managed the issue.