Kamat Hotels jumps on getting nod to acquire 100% stake in Envotel Hotels Himachal
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Kamat Hotels (India) is currently trading at Rs. 209.50, up by 4.15 points or 2.02% from its previous closing of Rs. 205.35 on the BSE.
The scrip opened at Rs. 211.00 and has touched a high and low of Rs. 211.00 and Rs. 205.35 respectively. So far 28 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 257.95 on 12-Jul-2023 and a 52 week low of Rs. 80.45 on 15-Nov-2022.
Last one week high and low of the scrip stood at Rs. 219.45 and Rs. 200.00 respectively. The current market cap of the company is Rs. 516.48 crore.
The promoters holding in the company stood at 61.47%, while Institutions and Non-Institutions held 0.50% and 38.03% respectively.
Kamat Hotels (India) has received an approval for acquisition of 100% Equity Stake in Envotel Hotels Himachal, consequently making it the Wholly Owned Subsidiary of the Company. The Board of Directors at its meeting held on August 30, 2023 has approved the same.
The acquisition of shares is likely to be completed within 180 days from the date of execution of the Share Purchase Agreement. The Consideration shall be paid in cash in one or more tranches.
The company is engaged in the hospitality business and is having Hotel, Resort & Restaurants.
