Samhi Hotels’ board has approved investing the funds of the company to acquire 100% share capital of Innmar Tourism and Hotels constituting 84,37,500 equity shares of Rs 10 each for an enterprise value of circa Rs 2,050 million adjusted for net working capital including cash, from the existing shareholders of the Target. Innmar Tourism and Hotels owns an operating hotel with 142 rooms in Whitefield, Bangalore along with surplus land for development of an additional 200-220 rooms in the Upper Upscale segment. The Proposed Acquisition is in line with the company’s stated strategy of acquisition and turnaround led growth. The Board of Directors of the company in its meeting held on October 4, 2024 has considered and approved the same.
Samhi Hotels acquires/builds primary hotels and thereafter renovates, rebrands and rerates the property and runs it.
| Company Name | CMP |
|---|---|
| Indian Hotel | 659.55 |
| ITC Hotels | 162.45 |
| EIH | 321.55 |
| Chalet Hotels | 778.90 |
| Mahindra Holi.&Resor | 272.70 |
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