The Indian Hotels Company Limited has informed the Exchange about Acquisition
INDHOTEL · price
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On the reaction day the stock moved 0.5 pts less than Nifty 100 and 1.2 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IHCL along with its step-down subsidiaries ANK Hotels Private Limited and Pride Hospitality Private Limited has completed the acquisition of 51% of the share capital in Brij Hospital Private Limited for a total investment of up to ₹222 crores. The acquisition was carried out through a combination of purchase from existing shareholders and primary investment via Compulsorily Convertible Preference Shares and partly paid-up equity shares. Following the completion of this transaction, Brij Hospital Private Limited has become a subsidiary of IHCL.
This acquisition strengthens IHCL's portfolio by adding Brij Hospital Private Limited as a subsidiary, expanding the company's presence in the hospitality or related sector with a significant investment of ₹222 crores.