Kamat Hotels India Ltd approves sale of VITS, Mumbai unit for Rs. 125 crores

The Board of Directors of Kamat Hotels India Ltd has approved the deal which was negotiated with prospective buyers to enter into MOU with respect to the sale of VITS, Mumbai, Unit of the Company which shall not be less than Rs. 125 crores on such terms and conditions, including the price considered which is in the interest of the Company, final approval will be subject to members of the Company.

The sale consideration will be used to reduce overall debt of the company.

Shares of Kamat Hotels (I) Limited was last trading in BSE at Rs. 103.65 as compared to the previous close of Rs. 98.75. The total number of shares traded during the day was 13654 in over 148 trades.

The stock hit an intraday high of Rs. 103.65 and intraday low of 99.90. The net turnover during the day was Rs. 1408203.00.

Source : Equity Bulls

Keywords

KamatHotelsI INE967C01018 VITS Mumbai UnitSale