Announced
Completed
Financials
Sources
Tags
Single Bidder
Friendly
Domestic
Private Equity
Completed
Hotels and Motels
Minority
India
Acquisition
Private
economy hotels
Synopsis
Indian Hotels completed the acquisition of an additional 40% stake in Roots, owner of Ginger brand of economy hotels, from Tata Capital and Omerga TC for $77m. “The company has delivered a positive Ebitdaof ₹97 crore in this quarter. In line with IHCL’s objective of driving growth and market leadership, the board approval of raising equity of ₹4,000 crore will enable us to be a zero-debt company in the future and help fund the company’s expansion as well as its capital expenditure plans,” Puneet Chhatwal, IHCL Managing Director and CEO.
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