Investment14 May 2025, 06:12 pm
SAMHI Hotels to Invest INR 45 Crore in Wholly-Owned Subsidiary Ascent Hotels
AI Summary
The Board of Directors of SAMHI Hotels Ltd. has approved investing INR 45,00,00,467 in Ascent Hotels Private Limited, its wholly-owned subsidiary. The investment will be made by way of secondary acquisition of 67,26,394 equity shares of Ascent from Vascon Engineers Limited. Ascent Hotels has a turnover of INR 140,04,80,000 in FY 2024-25. The successful consummation of this acquisition is a pre-closing condition for SAMHI Hotels and Ascent Hotels in their acquisition of 35% shareholding in three wholly-owned subsidiaries of the Company from Reco Bellflower Private Limited, an affiliate of GIC Pte. Limited.
Key Highlights
- SAMHI Hotels to invest INR 45 Crore in Ascent Hotels
- Investment through secondary acquisition of 67,26,394 equity shares from Vascon Engineers
- Ascent Hotels has a turnover of INR 140,04,80,000 in FY 2024-25
- Successful consummation of the acquisition is a pre-closing condition for SAMHI Hotels and Ascent Hotels in their acquisition of 35% shareholding in three wholly-owned subsidiaries of the Company from Reco Bellflower Private Limited, an affiliate of GIC Pte. Limited