Samhi Hotels has informed that the Board of Directors of SAMHI Hotels (Company) in its meeting held today (on 04th October 2024) has considered and approved investing the funds of the Company to acquire 100% share capital of Innmar Tourism and Hotels (Target) constituting 84,37,500 (eighty four lakh thirty seven thousand and five hundred) equity shares of INR 10 (Indian Rupees Ten only) each for an enterprise value of circa INR 2,050 million adjusted for net working capital including cash, from the existing shareholders of the Target (Proposed Acquisition). The Target 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. They are enclosing the relevant details of the transaction as prescribed under SEBI LODR Regulations read with SEBI circular SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023, in Annexure - A.
The above information is a part of company’s filings submitted to BSE.
