IHCL Completes Acquisition of 51% Stake in Brij Hospital Private Limited
The Indian Hotels Company Limited (IHCL) has completed a significant acquisition, acquiring a majority stake in Brij Hospital Private Limited. The transaction involves IHCL and its step-down subsidiaries, ANK Hotels Private Limited and Pride Hospitality Private Limited.The combined entities acquired a 51% stake, based on a fully diluted share capital, in Brij Hospital Private Limited. The total investment for this acquisition is reported to be up to ₹222 crores.
The purchase was executed through a combination of transactions, including the acquisition of shares from existing Brij shareholders and primary investment in Brij. This primary investment was structured using Compulsorily Convertible Preference Shares and partly paid-up equity shares.
Following the successful acquisition, Brij Hospital Private Limited has become a subsidiary of IHCL.
INDHOTEL Stock Price Movement
Today, The Indian Hotels Company Limited shares edged higher, closing at ₹666.15 and gaining 0.99% on its move of ₹6.50. Trading activity remained robust, with the stock seeing a total volume of 1.60 million shares throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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