Kamat Hotels (I) Limited — Important, 19-06-2025: General Updates

Kamat Hotels (India) Limited has announced a board meeting to discuss the acquisition of control over Ilex Developers & Resorts Limited (ILEX) through a Shareholders Arrangement Agreement. ILEX, operating in the hotel industry, will now be treated as KHIL's subsidiary. The arrangement involves delegation of control—appointing directors, key management, and operational decisions—without any monetary exchange or change in share ownership. ILEX reported a turnover of INR 18.64 Cr and a net profit of INR 0.89 Cr in FY25. This move centralizes management under KHIL’s leadership to streamline operations.