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Samhi Hotels Limited ( (IN:SAMHI) ) has provided an announcement.
Samhi Hotels Limited’s board has approved acquiring a 49% equity interest in Clean Max Nile Private Limited and Clean Max Solomon Private Limited through equal capital infusions, to secure renewable energy via group-captive solar arrangements for certain subsidiary-owned hotels in Maharashtra and Karnataka. This move is aimed at increasing the share of renewable energy in its hotels’ power mix and lowering annual utility expenses, supporting both cost-efficiency and sustainability goals.
The board has also sanctioned an investment of about INR 440.18 crore into its wholly owned subsidiary Duet India Hotels (Hyderabad) Private Limited by purchasing compulsorily convertible cumulative preference shares from another subsidiary, Duet India Hotels (Pune) Private Limited. The intra-group secondary transfer is expected to strengthen the capital structure and strategic focus of the Hyderabad asset while optimizing capital allocation within the group.
More about Samhi Hotels Limited
Samhi Hotels Limited is an Indian hotel ownership and asset management company operating through a portfolio of properties across key urban markets. The company manages its assets via subsidiaries and focuses on improving operational efficiencies, including energy costs, at hotels located in states such as Maharashtra, Karnataka and city markets like Hyderabad and Pune.
Average Trading Volume: 72,209
Technical Sentiment Signal: Sell
Current Market Cap: 34.78B INR
For an in-depth examination of SAMHI stock, go to TipRanks’ Overview page.