SAMHI Hotels to Sell Wholly Owned Subsidiary for INR535 Million; Shares Up 4%

MT Newswires Live

02-11

SAMHI Hotels (NSE:SAMHI, BOM:543984) has agreed to a 100% stake in its wholly owned subsidiary, Duet India Hotels (Chennai OMR), to Greenpark Hotels and Resorts for 535 million Indian rupees.

The transaction is expected to be completed by April 1.

Duet Chennai OMR contributed a revenue of 94.9 million Indian rupees in the financial year 2023-24, while its net worth was a negative 123.6 million rupees.

The company's shares were up 4% in early Tuesday trade.

Price (INR): ₹160.85, Change: ₹+6.4, Percent Change: +4.13%

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