SAMHI Hotels to acquire Bangalore Property for ₹205 crore, stocks on red 

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SAMHI Hotels Limited announced today its plan to acquire 100% of Innmar Tourism and Hotels Private Limited for an enterprise value of approximately ₹205 crore. The acquisition, approved by SAMHI’s Board of Directors today, includes an operating 142-room hotel in Whitefield, Bangalore, along with surplus land for potential development of an additional 200-220 rooms in the Upper Upscale segment.

The shares of SAMHI Hotels Limited were trading at ₹195.55 down by ₹1.05 or 0.53 per cent on the BSE today at 12.55 pm.

The deal involves purchasing 84,37,500 equity shares at ₹10 each, subject to adjustments for net working capital including cash. SAMHI expects to complete the transaction by today, pending closing conditions.

This move aligns with SAMHI’s strategy of growth through acquisition and turnaround. The target company, incorporated in 2003, reported a turnover of ₹247.61 million for the 2023-24 financial year.