Indian Hotels completed the acquisition of an additional 40% stake in Roots from Tata Capital and Omerga TC for $77m.

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.