Oberoi Realty Limited has informed the Exchange about Issuance of Letter of Intent in respect of Hotel Horizon Private Limited (under CIRP)
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Awaiting price reaction for this filing.
Oberoi Realty, along with Shree Naman Developers and JM Financial Properties and Holdings (a consortium), has been selected as the Successful Resolution Applicant for Hotel Horizon Private Limited (HHPL), which is undergoing corporate insolvency resolution (CIRP). The Committee of Creditors approved the resolution plan on July 14, 2025, and a Letter of Intent was issued on the same day. The plan involves payment of Rs. 919 Crore to HHPL's creditors in full and final settlement. HHPL owns a ~7,500 sq. mtr. plot overlooking the Arabian Sea at Juhu, Mumbai, where it is developing a retail-cum-hotel building. The acquisition will give the consortium 100% control of HHPL through cash subscription of Rs. 1 Crore in fresh shares, and is subject to NCLT approval.
Positive for Oberoi Realty shareholders — adds a prime sea-facing Juhu land parcel for a luxury hospitality and retail project, expanding the company's footprint in Mumbai's high-value micro-market. Key next milestone is NCLT approval, after which the deal is expected to close within 45 days.