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Awaiting price reaction for this filing.
HB Portfolio has invested an additional Rs. 5 crore into its wholly owned subsidiary Infinix9 Hotels & Resorts Private Limited by subscribing to 5 lakh 0% Fully Convertible Debentures (Series II) of Rs. 100 face value each at par. This is part of an approved investment plan of up to Rs. 25 crore in the subsidiary, which was first announced in May 2024. So far, the company has deployed a total of Rs. 20 crore in Infinix9 — Rs. 5 crore via equity shares (50 lakh shares at Rs. 10 each) and Rs. 15 crore via two tranches of 0% fully convertible debentures. The subsidiary operates in the hotels and resorts business.
This is a routine capital infusion into a wholly owned subsidiary, with no immediate effect on shareholders' ownership or the stock price. Investors should watch how the Rs. 20 crore deployed so far translates into business growth at Infinix9 Hotels & Resorts.