Acquisitions14 Oct 2024, 09:57 pm
HB Portfolio Ltd. Acquires Major Stake in Infinix9 Hotels & Resorts Pvt. Ltd. for Up to Rs. 25 Crores
AI Summary
HB Portfolio Ltd. has acquired 5000000 (Fifty Lakhs) Equity Shares of face value of Rs. 10/- each at par and 1000000 (Ten Lakhs) 0% Fully Convertible Debentures of face value of Rs. 100/- each at par of Infinix9 Hotels & Resorts Private Limited, a wholly owned subsidiary of the company. This acquisition is part of HB Portfolio Ltd.'s strategy to diversify its investments and is expected to be completed within 12 months from 24 May, 2024. Infinix9 Hotels & Resorts Private Limited and Infinix9 Hospitality LLP are in the Hospitality Industry. The paid-up equity share capital of Infinix9 Hotels & Resorts Private Limited is Rs. 500 Lakhs and it has a 99.95% controlling stake in Infinix9 Hospitality LLP.
Key Highlights
- HB Portfolio Ltd. has acquired a significant stake in Infinix9 Hotels & Resorts Private Limited.
- The acquisition is worth up to Rs. 25 crores and is part of HB Portfolio Ltd.'s strategy to diversify its investments.
- Infinix9 Hotels & Resorts Private Limited and Infinix9 Hospitality LLP are in the Hospitality Industry.
- The acquisition includes 5000000 (Fifty Lakhs) Equity Shares and 1000000 (Ten Lakhs) 0% Fully Convertible Debentures.
- The acquisition is expected to be completed within 12 months from 24 May, 2024.