Vidli Restaurant Ltd announces strategic restructuring and diversification through Eco Hotels Group Share Swap

Vidli Restaurant Ltd has announced a significant development in its strategic portfolio as it undergoes a transformative restructuring and diversification initiative. As part of this strategic move, Vidli Restaurant Ltd has engaged in a share swap with Eco Hotels and Resorts Ltd against its subsidiary Vitizen Hotels Ltd. Eco Hotels and Resorts Ltd is promoted by Eco Hotels UK PLC, a group company of Red Ribbon Asset Management UK plc. Easy Trip Planners Ltd (Ease my trip.com) has also taken a strategic stake in Eco Hotels and Resorts Ltd.

Dr. Vikram Kamat, the Founder and CMD of The Vitskamats Group, will be assuming a pivotal role on the board of Eco Hotels and Resorts Ltd shortly. Dr. Kamat brings with him a wealth of experience and expertise, and he is enthusiastic about contributing to the growth of Eco Hotels and Resorts Ltd and the success of VITS. He along with the team of Eco Hotels Ltd will work to make Eco Hotels and Resorts Ltd one of the largest Mid Market hotel chains in India.

The collaboration with Eco Hotels marks a significant step forward for Vidli Restaurant Ltd, leveraging the strengths and opportunities within the hospitality sector. Dr. Kamat expresses his confidence in the potential of this strategic alliance, emphasizing the collective efforts to drive growth and innovation in the industry.

The Eco and VITS brand will continue to grow providing full service to hotel space. Other than the present operating hotel leases, The company will also look at Greenfield projects and land leases and build hotels ground up using an innovative EBOT model.

Dr Vikram Kamat said " This is a milestone for the mid-market industry. We have always been innovators and pioneers with our food business, hotel innovations, and unique sales setups. With this, we will grow manifold in not just managed hotels but leasing and Greenfield projects as well."

Shares of Vidli Restaurants Ltd was last trading in BSE at Rs. 67.72 as compared to the previous close of Rs. 68.87. The total number of shares traded during the day was 7945 in over 56 trades.

The stock hit an intraday high of Rs. 67.96 and intraday low of 65.43. The net turnover during the day was Rs. 527125.00.

Source : Equity Bulls

Keywords

VidliRestaurants INE564S01019 Restructuring