Kamath brothers acquire 6.72% stake in Viceroy Hotels

Nithin Kamath and Nikhil Kamath, co-founders of Zerodha, have recently acquired a 6.72% stake in Viceroy Hotels during the September quarter, according to latest shareholding disclosures. The investment was made through two separate entities, Kamath Associates and Nksquared. This move comes as Viceroy Hotels attempts to capitalize on the operational recovery since the shift in management in 2023.

The significance of this investment is heightened by the recent history of Viceroy Hotels. The company had previously entered the Corporate Insolvency Resolution Process due to years of leveraged expansion under its previous promoter. Creditors were owed over ₹1,150 crore, and at one point, liquidation was a possibility with shares trading suspension.

However, a significant turning point occurred in October 2023 when the National Company Law Appellate Tribunal approved a resolution plan submitted by Anirudh Agro Farms Limited. This led to fresh capital infusion through Loko Hospitality, which enabled Viceroy’s shares to resume trading on the NSE and BSE in April 2024. Viceroy Hotels currently manages Marriott and Courtyard by Marriott properties in Hyderabad and has recently initiated a rights issue to raise around ₹105 crore, aiming to align its public shareholding with regulatory requirements following the high promoter holding post-resolution process.

Additionally, the company has expanded its portfolio by acquiring SLN Terminus Hotels and Resorts for ₹206 crore in December 2025, providing a new platform for growth beyond its existing assets.