Samhi Hotels rises on getting nod to invest funds in two wholly-owned subsidiaries
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Samhi Hotels is currently trading at Rs. 205.30, up by 0.30 points or 0.15% from its previous closing of Rs. 205.00 on the BSE.
The scrip opened at Rs. 204.00 and has touched a high and low of Rs. 205.95 and Rs. 202.00 respectively. So far 18720 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 237.80 on 27-Feb-2024 and a 52 week low of Rs. 127.45 on 22-Sep-2023.
Last one week high and low of the scrip stood at Rs. 219.00 and Rs. 200.25 respectively. The current market cap of the company is Rs. 4490.44 crore.
The Institutions and Non-Institutions held 85.85% and 14.15% stake in the company respectively.
Samhi Hotels has received approval to invest funds in two wholly-owned subsidiaries of the company. The company has received approval to invest in Duet India Hotels (Pune) (Duet Pune) to the tune of Rs 5.55 crore for subscribing to 55,51,980 equity shares of Rs 10 each of Duet Pune on rights issue basis and in Duet India Hotels (Ahmedabad) (Duet Ahmedabad) to the tune of Rs 1.31 crore for subscribing to 13,13,400 equity shares of Rs 10 each of Duet Ahmedabad on rights issue basis.
There is no change in the shareholding percentage of the Company in Duet Pune and Duet Ahmedabad, pursuant to such acquisitions. The Target Entities are raising funds solely for the purposes of undertaking redemption of certain non- convertible compulsorily redeemable preference shares issued by them in accordance with the provisions of the Companies Act, 2013. The Board of Directors of Samhi Hotels in its meeting held on March 21, 2024 has considered and approved the same.
Samhi Hotels acquires/builds primary hotels and thereafter renovates, rebrands and rerates the property and runs it.
