H S India to consider setting up of new hotels and acquisition of hotels

H S India Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 26, 2007, inter alia, to consider the following:

1. Raising the fund upto Rs 100 Crores by way of Debt, Equity or combination of both for the purpose of expansion, acquisition and retirement of existing high cost debt.

2. Proposal for acquiring substantial stake exceeding 51% in two hotel properties located at Ankleshwar and Varanasi with four star facility.

3. Purchase of land at Mumbai and Jaipur for setting up 4 star hotel project.

4. To fix date, time & place of holding Extra-ordinary General Meeting of the Shareholders of the Company.

Source : Equity Bulls

Keywords