Acquisitions5 Nov 2024, 08:33 pm
Indian Hotels Co. Ltd. to Acquire 55% Stake in Rajscape Hotels for Up to INR 18 Crores
AI Summary
The Indian Hotels Company Limited (IHCL) has approved the execution of a Share Subscription and Purchase Agreement, and Shareholders’ Agreement to acquire approximately 55% equity shares in Rajscape Hotels Private Limited. Rajscape Hotels operates 16 boutique properties under the brand ‘Tree of Life Resorts & Hotels’ across India, specializing in immersive and experiential stays. The acquisition does not fall under related party transactions and the promoter/promoter group/group companies do not have any interest in Rajscape Hotels. The acquisition provides IHCL access to an additional brand and expansion opportunity in the boutique and experiential stays segment.
Key Highlights
- IHCL to acquire ~55% shareholding in Rajscape Hotels Private Limited for up to INR 18 Crores.
- Rajscape Hotels operates 16 boutique properties under the brand ‘Tree of Life Resorts & Hotels’ across India.
- The acquisition does not fall under related party transactions.
- The acquisition provides IHCL access to an additional brand and expansion opportunity in the boutique and experiential stays segment.
- Rajscape Hotels Private Limited is a private limited company established in New Delhi, India, with a focus on the hospitality sector.