Asian Hotels (West) lists at Rs 242 on BSE; jumps to Rs 499
Asian Hotels (West) today listed at Rs 242 on the Bombay Stock Exchange.
Within the minutes of trade, the scrip soared to an early high of Rs 499 on the Bombay Stock Exchange.
Pursuant to the scheme of arrangement between Asian Hotels (North) Ltd (AHNL) and Asian Hotels (West) Ltd, the company has listed 1.14 crore shares on the bourses.
On the National Stock Exchange, shares of Asian Hotels (West) rallied to hit an early high of Rs 498 after listing at Rs 206.65.
Asian Hotels (West) will use the proceeds to develop a Clarion Hotel in Pune and to part finance the setting up of a high-end hotel in Delhi along with its partner Marriott International.
On the volume front total 7.91 lakh shares were traded on the bourses in the morning trade.