Jindal Hotels Ltd

Jindal Hotels Ltd

Incorporated in 1984 Jindal Hotels (JHL) was promoted by Hasmukh R Shah and associates. It has a three star hotel at Baroda Gujarat with a capacity of 156 rooms.In 1995 Jindal hotels developed new sites in natural environments within 100 km of the city the company made a right issue of 1762500 equity shares at par. The project is also being part-financed through internal accruals. The hotel caters mainly to business executives with a minimum stay of two days.During 1995-96 the company expanded its capacity by 40 rooms and also upgraded its existing facilities. During the current year company intends to add further 24 rooms. By the completion of this project the hotel will become one of the largest in Baroda City consisting 114 rooms overall.The Government has given the option of increase the hotel's capacity by 50% or make 50% of capital investment. The company submitted a Project Report to the Government of Gujarat which was approved. The project has been appraised by Tourism Finance Corporation of India Limited by a Term Loan to the extent of Rs.4.5 crores and balance amount by way of internal accruals.