Shares of Asian Hotels East doubled on its listing on the BSE on Wednesday after opening at INR200.
The stock touched a high of INR410 after opening at INR200, and was quoting at INR374 on the BSE.
Traded volume on the counter stood at nearly three lakh shares.
Asian Hotels West was incorporated as Chillwinds Hotels and came into existence by way of a Scheme of Arrangement and Demerger with the erstwhile Asian Hotels and Vardhman Hotels.
Asian Hotels is now called Asian Hotels (North) and Vardhman Hotels is now known as Asian Hotels (East). The Scheme came into effect from February 11, 2010.
The Mumbai operations were then demerged and the name of the company was changed to Asian Hotels (West) w.e.f February 12, 2010.
The three promoters of Asian Hotels Ltd. – Sushil Gupta, Shiv Jatia and Umesh Saraf brought the Hyatt hospitality brand in India.
After the demerger, Jatia will operate the Delhi-based Hyatt Regency, Gupta will control Hyatt Regency in Mumbai and Saraf will look after the Kolkata-based Hyatt Regency.
