Easy Trip Planners acquires 13.39% stake in Eco Hotels and Resorts through a share swap deal, aiming to diversify its portfolio and promote eco-friendly travel.
New Delhi, Dec 22 (PTI) Online travel service provider Easy Trip Planners Ltd on Friday said it has acquired 13.39 per cent stake in Eco Hotels and Resorts in a share swap deal.
The company's investment in equity shares of Eco Hotels India is swapped with equity shares of the latter in the ratio of 1:1, Easy Trip Planners, which operates under brand EaseMyTrip, said in a regulatory filing.
Subsequently, it has acquired 40 lakh equity shares of Rs 10 each of Eco Hotels and Resorts issued on preferential basis, it added.
"Our choice to invest in stakes aligns with our vision to contribute positively to the growth of eco-friendly and green hotels. This investment marks another milestone in our journey to diversify our portfolio and enhance the travel experiences we offer to our customers," EaseMyTrip Co-Founder and CEO Nishant Pitti said.
Eco Hotels and Resorts Executive Chairman V K Tripathi said the stake sale is a calculative move towards expanding the company's horizons and to present its guests with "an elevated, eco conscious, and luxurious experience that aligns seamlessly with our commitment to a greener and more sustainable future".
The two companies are discussing various areas of cooperation, including Eco Hotels to consider carrying out air and non-air business mainly for its customers on the platform of EaseMyTrip.com and its subsidiaries, the filing said.
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