Meanwhile, the S&P BSE Sensex was up 90.45 points, or 0.24% to 37,065.68

Chalet Hotels debuted at Rs 291 on BSE, a premium of 3.92% to the initial public offer (IPO) price of Rs 280. So far the stock hit a high of Rs 293.50 and low of Rs 250.15. On BSE, so far 4.87 lakh shares were traded on the counter.

The initial public offer (IPO) of Chalet Hotels received bids for 6.49 crore shares, as against 4.13 crore shares on offer, National Stock Exchange of India (NSE) website data showed. The issue was subscribed 1.57 times.

The qualified institutional buyers (QIBs) category was subscribed 4.66 times. The non institutional investors category was subscribed 1.10 times. The retail individual investors (RIIs) category was subscribed 0.03 times.

The issue opened for subscription on 29 January 2019 and closed on 31 January 2019. The price band for the issue was Rs 275 to Rs 280 per share.

For six months ended September 2018, consolidated net sales stood at Rs 469.87 crore. After considering total tax credit of Rs 19.17 crore, consolidated loss stood at Rs 43.67 crore.

Chalet Hotels is part of the K Raheja Group hospitality arm. It is an Owner, Developer and Asset Manager of high-end hotels in key metro cities in India. Their hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of 30 September 2018.