01-Sept-2026 19:27:51
ITCHOTELSAcquisition and merger
ITC HOTELS LIMITED : STEP-DOWN SUBSIDIARY ACQUIRES 100% EQUITY SHARES OF GHK HOSPITALITY & INFRASTRUCTURES LIMITED
• ITC Hotels Limited acquired 100% of the share capital of GHK Hospitality & Infrastructures Limited (‘GHK') on September 1, 2026. • GHK has become a wholly owned subsidiary of ITC Hotels Limited. • The acquisition was effected by primary subscription of 1,54,54,545 equity shares and secondary purchases of 1,27,73,196 equity shares. • The enterprise value is ₹155 crores on a cash-free, debt-free basis. • GHK owns the 'Welcomhotel Ahmedabad' hotel with 130 keys. • For FY24, GHK's turnover was ₹25.62 crores, FY25 ₹31.23 crores, and FY26 ₹35.16 crores.
ITC Hotels Limited
Open attachment