Updates on Acquisition
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Awaiting price reaction for this filing.
HB Portfolio Limited's board has approved extending the timeline by 12 months (until May 23, 2026) to complete the remaining Rs. 10 crore investment in its wholly-owned subsidiary, Infinix9 Hotels & Resorts Private Limited, out of the originally approved Rs. 25 crore. Of this, Rs. 15 crore has already been invested through equity shares and convertible debentures. Infinix9, a hospitality-sector company, has been making losses (Rs. 9.99 lakh loss in FY25 on nil turnover) but is pursuing a hotel project, having advanced Rs. 14.25 crore towards land purchase in Shirdi, Maharashtra through its LLP arm. The investment is aimed at diversifying HB Portfolio's portfolio into the hospitality sector.
Minor in nature since the target is already a 100%-owned subsidiary; essentially a deferred capital commitment rather than a new acquisition. Shareholders should note the continued capital deployment into a loss-making hospitality venture with no revenue yet, though the Shirdi land acquisition signals an upcoming hotel project.