SAMHI Hotels Invests INR 125 Crore in Wholly-Owned Subsidiary Ascent Hotels

SAMHI Hotels Ltd. has approved investing INR 125,00,00,000 in its wholly-owned subsidiary, Ascent Hotels Private Limited, by subscribing to certain equity shares on a rights issue basis. This investment is aimed at strengthening Ascent's financial position and supporting its growth. Ascent Hotels, which has a turnover of INR 140,04,80,000 in FY 2024-25, will utilize these funds for repaying certain inter-corporate loans availed from SAMHI Hotels. The proposed transaction is not a related party transaction and does not require any governmental or regulatory approvals. SAMHI Hotels will continue to hold 100% share capital in Ascent Hotels post-transaction. Ascent Hotels, incorporated on 05 July 2005, is involved in hotel ownership and asset management. Its consolidated turnover for the last three financial years is INR 94,12,50,000 (FY 2022-23), INR 1,18,49,60,000 (FY 2023-24), and INR 1,40,04,80,000 (FY 2024-25). Ascent Hotels operates solely in India.