The Indian Hotels Company Limited — JV/Acquisition, 24-10-2024: Acquisition

The Indian Hotels Company Limited has invested ₹49.99 crores in equity shares of its wholly-owned subsidiary, Zarrenstar Hospitality Private Limited, through a rights issue. Zarrenstar is developing a hotel at Cochin International Airport and had a turnover of ₹0.55 crores for the fiscal year 2023-2024. Post-investment, the company maintains a 100% sharehold in Zarrenstar.