Announcement under Regulation 30 (LODR)- Material information about the Scheme of Amalgamation and Arrangement between Valor Estate Limited, Esteem Properties Private Limited and Advent Hotels International Private Limited and their respective shareholders and creditors
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Valor Estate (formerly D B Realty) is progressing a composite scheme of amalgamation and arrangement involving three group companies: Valor Estate (VEL, amalgamated/demerged company), Esteem Properties (amalgamating into VEL), and Advent Hotels International (AHIPL, the resulting company to be separately listed). The board of AHIPL approved three Key Managerial Personnel appointments effective 14th July 2025: Mr. Rahul Pandit as MD & CEO, Mr. Amit Jain as CFO, and Mr. Chirag Sojitra as Company Secretary & Compliance Officer. Mr. Rahul Pandit brings 30+ years of hospitality experience, having led TATA Group's Ginger Hotels, Lemon Tree Hotels, Blackstone's Horizon Industrial Parks, and a Warburg Pincus JV for rental housing. The scheme involves demerger of VEL's hospitality vertical (Hyatt, Hilton, and Marriott-flagged assets, including India's largest integrated hospitality project at Delhi Aerocity) into AHIPL, which will be converted into a listed entity called Advent Hotels International Limited. Mr. Pandit's appointment as MD & CEO is subject to shareholder approval at the upcoming AGM.
The restructuring will create two separate listed entities - VEL focused on real estate and AHIPL on hospitality - potentially unlocking independent value for shareholders in each business. The scheme will require NCLT and other regulatory clearances, and shareholders will need to approve the key appointment at the AGM before the demerger can complete.