Bharat Hotels files for IPO

Bharat Hotels has submitted papers to Securities and Exchange Board of India for its Initial Public Offering of equity share of Rs.1200 crore.

Bharat Hotels is known to run 5 star properties under the name “The Lalit” brand. In March, the company run 12 luxury hotels, palaces and resorts and also two mid-market segments under its brand name throughout India in the key business destinations that attract tourists.

Bharat Hotel has initiated an IPO to gather Rs.1200 crore and the company is said to use this money to repay the loan that it had taken for the other general corporate purposes. The company is expecting to increase its visibility and improve its brand name via this IPO.

HDFC Bank Ltd, Edelweiss Financial Services Ltd, and YES securities will help in managing the public issue.