Board Approval Details
The Board of Directors of ITC Hotels Limited approved the acquisition at a meeting held on 16th July, 2026. The meeting commenced at 1:20 p.m. and concluded at 1:55 p.m. The company executed a 'Share Purchase and Share Subscription Agreement' for the acquisition.
Target Entity Details
- Name: GHK Hospitality & Infrastructures Limited ('GHK')
- Industry: Hospitality
- Date of Incorporation: 10th May, 2007
- Business: Engaged in hospitality business and owns a hotel named 'Welcomhotel Ahmedabad' with 130 keys
Financial Performance of GHK (Based on Audited Accounts)
- FY 2025-26 Turnover: ₹35.16 crores
- FY 2024-25 Turnover: ₹31.23 crores
- FY 2023-24 Turnover: ₹25.62 crores
Transaction Details
- Acquisition Percentage: 100% of the equity share capital of GHK
- Consideration Type: Cash
- Related Party Transaction: No
- Promoter/Promoter Group Interest: None
- Governmental/Regulatory Approvals Required: None
Strategic Rationale and Impact
The acquisition allows ITC Hotels to expand its owned asset portfolio in Ahmedabad across all market segments through an established hotel that is currently operated by the company under an Operating Services Agreement. The acquisition is described as value-accretive and provides an opportunity to capitalize on Ahmedabad's diversified year-round demand.
Timeline
The acquisition of shares is expected to be completed within Q2 FY'27 (second quarter of financial year 2026-27).