Published On:October 5 2024
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"SAMHI Hotels to Acquire Bangalore Property for ₹205 Crore"

SAMHI Hotels Limited has announced its plan to acquire 100% of Innmar Tourism and Hotels Private Limited for an enterprise value of approximately ₹205 crore. The acquisition, which received approval from SAMHI’s Board of Directors today, includes a 142-room operating hotel located in Whitefield, Bangalore, as well as surplus land that can accommodate the development of an additional 200-220 rooms in the Upper Upscale segment.

The deal involves the purchase of 8,437,500 equity shares at ₹10 each, with adjustments based on net working capital, including cash. SAMHI aims to finalize the transaction by the end of the day, pending the fulfillment of closing conditions.

This acquisition is in line with SAMHI's growth strategy focused on acquisition and turnaround. Innmar Tourism and Hotels, established in 2003, reported a turnover of ₹247.61 million for the 2023-24 financial year.

HBL





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