Zerodha founders Kamath brothers bet on Viceroy Hotels with 6.72% stake after insolvency-led crisis: What changed?
AI Summary
The acquisition of a stake in Viceroy Hotels by Zerodha founders signals a potential turnaround for the company, which has recently emerged from insolvency and is now focusing on strategic expansion. For retail investors, this could indicate a buying opportunity in the hospitality sector, especially as Viceroy aims to capitalize on India's growing tourism and business travel markets. However, investors should remain cautious and monitor the company's operational performance closely, given its recent history of financial distress.
Zerodha founders Nithin Kamath and Nikhil Kamath have acquired a 6.72% stake in Viceroy Hotels during the September quarter, and the acquisition comes at a time when the stock has attempted a strong recovery after remaining under prolonged losses.
The brothers made the investment through two entities — Kamath Associates and Nksquared, The Economic Times reported, citing the company’s latest shareholding disclosures. As per the latest shareholding data, promoters continued to hold the majority, 74%, of ownership in the company, while the remaining 25.6% was held by general shareholders.
Original Article
Published on Livemint
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