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Royal Orchid Hotels gets nod to make additional investment in Icon Hospitality

31 May 2023 Evaluate

Royal Orchid Hotels has received approval for additional investment in Icon Hospitality, a Subsidiary Company (ICON) by way of purchase of 9,29,872 equity shares of ICON (representing 48.93% of equity share capital of ICON) from the existing Shareholders of ICON. On completion of the said purchase, the company's shareholding in ICON would increase from 51.07% to 100%. The Board of Directors of the company at its meeting held on May 30, 2023, approved the same.

Royal Orchid Hotels is one of India's fastest-growing hospitality brands.

Peers
Company Name CMP
The Indian Hotels Co 847.70
ITC Hotels 173.40
Mahindra Holi.&Resor 191.45
EIH 299.35
Chalet Hotels 817.55
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