Zerodha Founders Nithin and Nikhil Kamath Buy Stake in Viceroy Hotels

Zerodha founders Nithin and Nikhil Kamath have bought a 6.72 percent stake in Viceroy Hotels through their investment firms Kamath Associates and Nksquared.

Growth Plans

The hotel company is working to rebuild its business after going through an insolvency resolution process. The firm is currently expanding its portfolio through new acquisitions and looking to raise funds by launching a Rs 105-crore rights issue.

Context

Corporate investments and rights issues are common ways for companies to raise fresh capital from existing shareholders when they need money to fund business growth or pay off debts. Viceroy Hotels is trying to strengthen its financial position after resolving its past debt issues through the insolvency process.