Oberoi Realty Limited has informed the Exchange about Acquisition of Hotel Horizon Private Limited under the Insolvency and Bankruptcy Code, 2016
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Awaiting price reaction for this filing.
Oberoi Realty Limited has informed the stock exchange that it is acquiring Hotel Horizon Private Limited through the Insolvency and Bankruptcy Code (IBC), 2016 process. This indicates that Hotel Horizon was undergoing insolvency proceedings and Oberoi Realty has been selected as the resolution applicant. The acquisition marks Oberoi Realty's entry or expansion into the hospitality/hotel sector. Specific financial details such as deal value, payment structure, and timeline are not mentioned in this filing. Hotel Horizon is a private limited company, and the acquisition will be executed through the NCLT-driven corporate insolvency resolution process.
This move could diversify Oberoi Realty's portfolio by adding a hotel asset, though the financial impact will depend on the deal value and turnaround potential of the acquired entity. Investors should await further disclosures on acquisition cost and business integration plans before assessing long-term value.