Graviss Hospitality Share Price

Incorporated in 1959, Graviss Hospitality Limited (Formerly known G L Hotels Limited) is the owner of the Nataraj Hotel in South Mumbai. It is engaged in the hospitality business having one hotel in the name of InterContinental at Marine Drive, Mumbai.GLHL issued bonus shares in 1970 in the ratio of 1:4. It offered 7 rights shares for every 6 shares held to Ghai Enterprises Pvt Ltd, share holders at the time of amalgamation. In 199495, the company diversified its activities by opening up icecream stores in Bombay selling icecreams branded Baskin Robbins.Reconstruction work of the Hotel Nataraj is progressing and structural work of the new building has been completed. Reconstruction of the hotel and Interior Designing work is in progress.The company has entered into a catering agreement with M/s Kwality Frozen Food Pvt Ltd. It has entered into various strategic agreements with InterContinental Hotels Corporation USA.In 2007, Mayfair Banquets Private Limited (MBPL) business was acquired by the Company through the Scheme of Arrangement and made effective from July 21, 2007. Further pursuant to the aforesaid Scheme, Leman International Private Limited, (the then subsidiary of MBPL, since merged with the Company), became subsidiary of the Company. In term of the Scheme, 58,62,171 Equity shares of the Company were issued (in ratio of 53 Equity Shares of face value of Rs. 10 each credited as fully paidup for every one equity share of Rs. 100 each fully paidup held) to the members of erstwhile MBPL.The Company acquired 10,000 equity shares, representing 100% of the total paid up capital and voting rights of Kwality Resorts and Hospitality Private Limited. Pursuant to the said investment, Kwality Resorts and Private Limited became the wholly owned subsidiary of the Company and thereafter, Kwality Resorts and Hospitality Private Limited was converted into Public Limited Company w.e.f. 29th June 2007. In 200809, the Company operationalized Mayfair Banquets at Bangalore, Gurgaon and Ahmedabad.