Leela Palaces Invests ₹185 Cr in Subsidiary Buildminds

Leela Palaces Hotels & Resorts Ltd announced an investment of up to ₹185 crore in its subsidiary, Buildminds Real Estate Private Limited. This investment, to be made in tranches over several years, will be in the form of Compulsorily Convertible Preference Shares (CCPS). Buildminds is developing the company's upcoming 5-star hotel in Ayodhya. The funds will support Buildminds' capital requirements, ongoing operations, project development, and long-term growth. The investment is considered a related party transaction but is being conducted at arm's length. The company currently holds 76% of Buildminds' equity, and this investment will not alter management control.