Apeejay Surrendra Park Hotels Ltd to acquire 90% Stake in Zillion Hotels and Resorts Pvt Ltd

Apeejay Surrendra Park Hotels Limited ('the Company'), has entered into Share Purchase Agreement today for acquisition of 90% (with an option to acquire balance 10% shareholding subsequently, based on certain events) stake of Zillion Hotels and Resorts Private Limited from its existing shareholders (namely Handa Family Shareholders and Nair Family Shareholders). Consequent to the aforesaid acquisition, Zillion Hotels and Resorts Private Limited will become a subsidiary of the Company.

Zillion Hotels and Resorts Private Limited is in the business of owning and operating the Z Luxury Residences, including 62 service residences and food & beverage facilities located at 29/1 J R Mhatre Road, Opp. Iris Park Juhu, Mumbai, Maharashtra, India, 400049.

Shares of Apeejay Surrendra Park Hotels Limited was last trading in BSE at Rs. 152.05 as compared to the previous close of Rs. 154.40. The total number of shares traded during the day was 32949 in over 509 trades.

The stock hit an intraday high of Rs. 155.50 and intraday low of 150.50. The net turnover during the day was Rs. 5033025.00.

Source : Equity Bulls

Keywords

ApeejaySurrendraParkHotels INE988S01028 Acquisition ZillionHotelsandResorts