Samhi Hotels acquires 49% in 2 solar firms for ₹2.92 Cr; invests ₹44.02 Cr in sub
Samhi Hotels Ltd's Board has approved two significant transactions. The company will acquire a 49% equity interest in Clean Max Nile Private Limited and Clean Max Solomon Private Limited, investing ₹1.458 crore in each entity, totaling ₹2.916 crore. These investments are aimed at sourcing renewable solar energy for some of Samhi's hotels in Maharashtra and Karnataka through a group captive arrangement, which is expected to increase renewable energy consumption and reduce annual utility costs. Additionally, the Board approved an investment of ₹44.018 crore in its wholly-owned subsidiary, Duet India Hotels (Hyderabad) Private Limited, by acquiring Compulsorily Convertible Cumulative Preference Shares from another group subsidiary, Duet India Hotels (Pune) Private Limited.
Key Highlights
- Samhi Hotels acquires 49% equity in two solar energy firms.
- Total investment of ₹2.916 Cr for renewable energy projects.
- Aims to achieve utility cost savings and higher green energy use.
- Invests ₹44.018 Cr in wholly-owned subsidiary Duet Hyderabad.
- Funds are for internal capital allocation within the group.