Investment21 Jan 2025, 07:44 pm
SAMHI Hotels to Invest INR 20.5 Crore in Wholly-Owned Subsidiary Duet India Hotels (Chennai OMR) Private Limited
AI Summary
The Board of Directors of SAMHI Hotels Ltd has approved an investment of up to INR 20,50,00,000 in its wholly-owned subsidiary, Duet India Hotels (Chennai OMR) Private Limited. The investment will be made by subscribing to 2,05,00,000 equity shares of INR 10 each on a rights issue basis. The Target Entity is raising funds solely for the repayment of certain inter-corporate deposit(s) in accordance with the provisions of the Companies Act, 2013. The Company’s shareholding in Duet Chennai OMR remains unchanged at 100%.
Key Highlights
- SAMHI Hotels to invest INR 20.5 Crore in its wholly-owned subsidiary.
- The investment will be made by subscribing to 2,05,00,000 equity shares of INR 10 each on a rights issue basis.
- Duet India Hotels (Chennai OMR) Private Limited is raising funds solely for the repayment of certain inter-corporate deposit(s).
- The Company’s shareholding in Duet Chennai OMR remains unchanged at 100%.
- Duet India Hotels (Chennai OMR) Private Limited is a wholly-owned subsidiary of SAMHI Hotels Ltd, incorporated on 21st July 2010, with a focus on Hotel Ownership and Asset Management.