Valor Estate's Composite Scheme progresses: Advent Hotels International allotted equity shares worth 53.94 Cr to Valor Estate shareholders and 7.17 Cr worth of unlisted preference shares.

Advent Hotels also cancelled its pre-scheme capital of 0.02 Cr.

Additionally, Valor Estate's preference share capital was reduced by 10%, a 7.17 Cr value reduction.

Advent Hotels will apply for listing of its new equity shares, which will remain frozen until trading approval.

This corporate action significantly reshapes the capital structure for both entities.