Samhi Hotels Acquires Innmar Tourism for Rs 205 Crore

New Delhi, Oct 4 (PTI) Samhi Hotels Ltd on Friday said it will acquire Innmar Tourism and Hotels Pvt Ltd at an enterprise value of Rs 205 crore.

The board of directors, at its meeting held on October 4, considered and approved acquiring 100 per cent share capital of Innmar Tourism and Hotels, Samhi Hotels said in a regulatory filing.

The company will acquire 84,37,500 equity shares of Rs 10 each of the target for an enterprise value of Rs 205 crore adjusted for net working capital, including cash from existing shareholders, it added.

Innmar Tourism and Hotels owns an operating hotel with 142 rooms in Whitefield, Bengaluru along with surplus land for development of an additional 200-220 rooms in the upper upscale segment.

"The proposed acquisition is in line with our stated strategy of acquisition and turnaround led growth," the filing said.