Nithin and Nikhil Kamath Acquire 6.72 Percent Stake in Viceroy Hotels

Nithin Kamath and Nikhil Kamath, founders of Zerodha, have acquired a 6.72 percent stake in Viceroy Hotels during the September quarter, according to the company’s latest shareholding disclosures.

The investment was made through two separate investment vehicles, Kamath Associates and Nksquared. The stake purchase comes as Viceroy Hotels continues to build on its operational recovery following a change in management in 2023.

Viceroy Hotels had previously entered the Corporate Insolvency Resolution Process after a period of leveraged expansion under its earlier promoter. The company’s creditors were owed over Rs 1,150 crore, while liquidation had also remained a possibility at one stage. Trading in the company’s shares had been suspended during this period.

A key development came in October 2023, when the National Company Law Appellate Tribunal approved a resolution plan submitted by Anirudh Agro Farms Limited. Fresh capital was subsequently infused through its subsidiary Loko Hospitality.

Following the implementation of the resolution plan, Viceroy Hotels’ shares resumed trading on the NSE and BSE in April 2024.

The company operates Marriott and Courtyard by Marriott properties in Hyderabad. It has also launched a rights issue to raise around Rs 105 crore at Rs 115 per share. The fund-raising is linked to bringing the company’s public shareholding in line with regulatory requirements after promoter holding increased following the resolution process.

Viceroy Hotels is also expanding its hospitality portfolio beyond its existing assets. In December 2025, shareholders approved the acquisition of SLN Terminus Hotels and Resorts for Rs 206 crore.

SLN Terminus operates Marriott-branded executive apartments. The acquisition is expected to give Viceroy Hotels an additional platform for expanding its hospitality operations beyond its existing properties.