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Real estate majors are coming for the hotel industry bearing a ₹10,000-cr purse

LivemintLivemint · 1y ago
Real estate majors are coming for the hotel industry bearing a ₹10,000-cr purse
Medial

Indian property developers are increasingly investing in the hospitality sector, attracted by its rapid growth and high yields. Prestige Estates Projects, for example, signed a deal with Marriott International to manage six of its upcoming hotel projects. Meanwhile, other developers such as D B Realty, House of Abhinandan Lodha, DS Group, and K Raheja Corp's Chalet Hotels have earmarked substantial budgets for hotel development and management. Major industry players like Hyatt Hotels Corp are also focusing on India's hospitality industry, particularly in the luxury segment. This surge in investment highlights the sector's "golden era" and the potential for sustained growth in the Indian hotel industry.

Swiggy gets shareholder nod to raise Rs 10,000 Cr via QIP

EntrackrEntrackr · 2m ago
Swiggy gets shareholder nod to raise Rs 10,000 Cr via QIP
Medial

Swiggy gets shareholder nod to raise Rs 10,000 Cr via QIP Food and quick commerce major Swiggy has secured shareholder approval to raise up to Rs 10,000 crore via a Qualified Institutional Placement (QIP), opening the door to one of the largest equity raises by an internet-era company in India. The special resolution was passed at an Extraordinary General Meeting (EGM) held on December 8, after the board had cleared the proposal on November 7. According to the stock exchange filing, 99.47% of votes cast were in favour of the plan. With this approval in place, the issuance can proceed as soon as this week. The Rs 10,000 crore infusion will be used to bolster Swiggy’s capital base and accelerate growth across its core food delivery business and its quick-commerce arm Instamart. With competition heating up in the instant-grocery segment, from the likes of Blinkit and Zepto, Swiggy needs a substantial war chest for warehousing, dark stores, logistics, and customer acquisition. At the current trading price, the fresh issue could result in over 10% equity dilution for existing shareholders. This marks Swiggy’s first major capital raise since its IPO in November 2024, when it raised roughly Rs 4,500 crore. Recently, Swiggy reported that its losses widened 74% year-on-year to Rs 1,092 crore in Q2 FY26, while Instamart’s revenue doubled during the same period. The company’s operating revenue surged 23% to Rs 3,760 crore in the quarter, driven by higher order frequency and quick-commerce traction. Meanwhile, the Bengaluru-based company also exited Rapido, securing Rs 2,399.5 crore and yielding over a 2.5X return on its investment made less than four years ago. With market conditions and investor demand permitting, the QIP could be launched imminently. If successful, it would provide Swiggy with the financial leverage needed to accelerate scale in both food delivery and quick commerce, though the dilution may also test the patience of existing retail investors.

EaseMyTrip to raise Rs 500 Cr to scale hotels and holidays biz

EntrackrEntrackr · 3d ago
EaseMyTrip to raise Rs 500 Cr to scale hotels and holidays biz
Medial

EaseMyTrip to raise Rs 500 Cr to scale hotels and holidays biz Listed online travel platform EaseMyTrip is planning to raise up to Rs 500 crore to fuel its next phase of growth, according to a disclosure filed with the stock exchanges on Monday. The fundraising may be executed in one or more tranches through permissible routes under applicable laws, including a rights issue, qualified institutions placement (QIP), preferential issue, private placement, or other approved methods. Detailed terms such as the size, pricing, structure, and timing of the issue will be finalised in line with market conditions and regulatory requirements. As per the company, the capital raise is aimed at strengthening EaseMyTrip’s presence in high-potential segments, particularly hotels and holiday packages, while also supporting investments in technology, platform upgrades, and strategic opportunities aligned with its long-term roadmap. “The proposed capital raise of up to Rs 500 crore is about being ready. It gives us the flexibility to invest at the right time, whether in technology or strategic opportunities that fit our larger vision,” said Nishant Pitti, Founder and CMD of EaseMyTrip. He added that the company will continue to maintain a disciplined approach to capital allocation, with a sharp focus on sustainable growth and long-term value creation. Founded in 2008, EaseMyTrip is among India’s largest online travel-tech platforms in terms of air ticket bookings. The bootstrapped company has built a diversified presence across air and non-air categories, including hotels, holidays, trains, buses, and cabs, and is now looking to deepen its integrated travel ecosystem as competition intensifies in the segment. During Q3 of the ongoing fiscal year, the company reported revenue of Rs 151 crore, while its profit declined 90% year-on-year to Rs 3.4 crore in Q3FY26. Currently, EMT’s shares are trading at Rs 7.32, with a total market capitalisation of Rs 2,662 crore.

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