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Zerodha founders buy 6.72% stake in Viceroy Hotels after insolvency
The Kamath brothers invested during the September quarter, as Viceroy Hotels’ share price attempted a recovery after a 2023 insolvency resolution.
Zerodha founders Nithin Kamath and Nikhil Kamath acquired a 6.72% stake in Viceroy Hotels during the September quarter, according to shareholding disclosures cited by LiveMint Markets.
The purchase was made through Kamath Associates and Nksquared, while promoters continued to hold a 74% majority in the company and general shareholders held 25.6%.
LiveMint Markets said the investment comes as the stock attempts to recover from prolonged losses, after the company entered the corporate insolvency resolution process in 2023 following heavy debt under its previous promoter.
The report added that creditors were owed more than ₹1,150 crore, with the firm facing the possibility of liquidation and a period during which trading in its shares was suspended.