Hotel Leela Venture, engaged in the business of hotels and resorts, announced that the company has engaged JM Financial Institutional Securities for sale of its Chennai and Goa Hotels.

In accordance with the powers delegated by the company's board, the assets sale committee, has decided to commence the process for sale of its hotels in Goa and Chennai. Accordingly, an advertisement is being released inviting interested parties to submit their EOI to JM Financial.

Shares of the company gained Rs 2.3, or 10.67%, to trade at Rs 23.85. The total volume of shares traded was 481,673 at the BSE (9.58 a.m., Tuesday).