26-Oct-2026 13:39:34
ITCHOTELSExpansion
ITC HOTELS: APPROVES WHOLLY OWNED SUBSIDIARY IN DUBAI; PLANS INVESTMENT OF UP TO ₹20 CR
• Global Expansion: Board approved incorporation of a wholly owned subsidiary in Dubai, United Arab Emirates (UAE) • Investment: Proposed investment of up to ₹20 Cr through equity subscription in multiple tranches • Ownership: ITC Hotels will hold 100% equity in the proposed subsidiary • Business Operations: New entity will operate hotels, restaurants and other hospitality-related businesses • International Presence: Dubai subsidiary could support expansion into overseas hospitality markets • Regulatory Approvals: Incorporation subject to necessary approvals from Dubai authorities • Project Status: Subsidiary is yet to be incorporated; operational and expansion details have not been announced
ITC HOTELS LIMITED