ITC Limited — JV/Acquisition, 18-12-2024: Acquisition

ITC has acquired a 2.44% stake in EIH Limited and a 0.53% stake in HLV Limited from its wholly-owned subsidiary, Russell Credit Limited, for an aggregate consideration of ₹111.22 crores for EIH and ₹10.93 crores for HLV. This consolidation underlines ITC's strategy to strengthen its shareholding in the hospitality sector. Post-acquisition, ITC’s ownership in EIH and HLV stands at 16.13% and 8.11%, respectively. EIH operates luxury hotels under the Oberoi and Trident brands, while HLV manages hotels, palaces, and resorts, both enhancing ITC's portfolio in the hospitality industry.