Apeejay Surrendra Park Hotels Ltd inks MoU for acquisition of 90% in Zillion Hotels and Resorts Pvt Ltd

Apeejay Surrendra Park Hotels Limited ('Company'), has entered into binding Memorandum of Understanding today for acquisition of 90% stake of Zillion Hotels and Resorts Private Limited from its existing shareholders (namely Handa Family Shareholders and Nair Family Shareholders). Consequent to the aforesaid acquisition, Zillion Hotels and Resorts Private Limited will become a subsidiary of the Company.

Zillion Hotels and Resorts Private Limited is in the business of owning and operating the Z Luxury Residences, including 62 service residences and food & beverage facilities located at 29/1 J R Mhatre Road opp Iris Park Juhu, Mumbai, Maharashtra, India, 400049.

Shares of Apeejay Surrendra Park Hotels Limited was last trading in BSE at Rs. 154.50 as compared to the previous close of Rs. 153.25. The total number of shares traded during the day was 70350 in over 1930 trades.

The stock hit an intraday high of Rs. 155.95 and intraday low of 148.50. The net turnover during the day was Rs. 10683612.00.

Source : Equity Bulls

Keywords

ApeejaySurrendraParkHotels INE988S01028 MoU Acquisition ZillionHotelsandResorts