Cineline India Ltd to sell stake in R&H Spaces Pvt Ltd which owns Hyatt Centric, Goa

The Board of Directors of Cineline India Limited at its meeting held today i.e. 10th December 2024 has considered and approved sale of the Hotel - Hyatt Centric, Goa, owned by R&H Spaces Private Limited, a significate wholly owned subsidiary of the Company by way of sale of building being Hotel-Hyatt Centric, Goa and the land appurtenant thereto along with all related assets by R&H Spaces Private Limited with an option, as previously approved, to sell the Investments in 100% equity shares of R&H Spaces Private Limited on such terms and conditions as may be agreed between the Company and the potential buyers (other than promoter/promoter group/group companies), for an aggregate consideration of not less than ₹270 crore (Indian Rupees Two Hundred and Seventy Crores Only), subject to obtaining all requisite approvals, including shareholder consent. The Board aims to identify a buyer and finalize the sale process by 31st March 2025, subject to the fulfilment of any applicable conditions precedent.

Shares of Cineline India Limited was last trading in BSE at Rs. 141.70 as compared to the previous close of Rs. 118.10. The total number of shares traded during the day was 161962 in over 1622 trades.

The stock hit an intraday high of Rs. 141.70 and intraday low of 118.20. The net turnover during the day was Rs. 22578901.00.

Source : Equity Bulls

Keywords

CinelineIndia INE704H01022 StakeSale RandHSpaces HyattCentric Goa