EIH Limited, a leading player in the hospitality industry, has announced its decision to invest up to GBP 69 million (₹7,582.42 crore) in EIH London Investments Limited. This acquisition will enable EIH Limited to own a 100% stake in the entity, with the investment taking place in one or more tranches.
The company has disclosed that this move is aligned with its strategy to establish a strong brand presence in London, a key market for EIH. The investment will be executed through cash consideration, with EIH and its subsidiaries subscribing to 69 million shares, each valued at GBP 1.
The acquisition is expected to be completed by November 30, 2024. EIH London Investments Limited has not yet commenced its business operations but will be instrumental in expanding the company’s footprint in the UK.
EIH’s Board finalized this decision during a meeting held on October 16, 2024, with the session concluding at 7:05 PM. The company aims to leverage this investment to strengthen its international presence, particularly in the competitive hospitality industry in London.
GBP 69 million is approximately ₹7,582.42 crore* (1 INR = GBP 0.0091)
