Kamat Hotels Limited completed the acquisition of Envotel Hotels Himachal Private Limited.
October 01, 2023
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Kamat Hotels (India) Limited (NSEI:KAMATHOTEL) entered into an agreement to acquire Envotel Hotels Himachal Private Limited on August 30, 2023. The Consideration shall be paid in cash. Transaction has already been approved by Kamat Hotels (India) Limited's board of director's. The acquisition of shares is likely to be completed within 180 days from the date of execution of the Share Purchase Agreement. As of October 18, 2023 the cost of acquisition of Equity shares by the Company would be at Face Value of the Share of Envotel Hotels Himachal Private Limited.
Kamat Hotels (India) Limited (NSEI:KAMATHOTEL) completed the acquisition of Envotel Hotels Himachal Private Limited on October 1, 2023.
Kamat Hotels (India) Ltd is an India-based company, which is engaged in the hospitality business. The Company has hotels in the states of Maharashtra (Mumbai, Pune, Nashik, Murud), Goa (Benaulim) and Orissa (Puri, Konark and Bhubaneswar). Its leisure hotels include Lotus Eco Beach Resort Konark, Lotus Eco Beach Resort Goa and Lotus Eco Beach Resort Murud. It provides a heritage collection, which includes Fort JadhavGADH and Mahodadhi Palace. The Companyâs brand is the Orchid, which is an ecotel hotel. The Orchid is in Mumbai, Pune and other locations. Its Lotus Eco Beach Resort is a Dapoli resort near Murud beach. Lotus Resort is situated on the Konkan coast. Its Orchid Hotels are a chain of five-star hotels in India. Its subsidiaries include Orchid Hotels Pune Private Limited, Mahodadhi Palace Private Limited, Kamats Restaurants (India) Private Limited, Fort Jadhavgadh Hotels Private Limited and Orchid Hotels Eastern (I) Private Limited.