Viceroy Hotels completes slump sale of Bangalore Project Division

Viceroy Hotels has successfully completed slump sale of Bangalore Project Division to Viceroy Bangalore Hotels. The company has invested Rs 47.3 crore in equity share capital of Viceroy Bangalore Hotels by way subscription of 59,90,000 equity shares of Rs 10 each at a price of Rs 78.96 per share in accordance with the Business Transfer Agreement.

Further,  Viceroy Bangalore Hotels ceased to be subsidiary of the company on account of strategic investment of Rs 74 crore out of Rs 90 crore infused by 'JP Morgan India Property Mauritius II' by way subscription of 74,00,000 equity shares of Rs 10 each at a price of Rs 100 per share.

Viceroy Hotels develops hotels, restaurants and new F & B concepts, which have earned it acclaim in the industry, thanks to fresh and timeless ideas which transcend national boundaries.