Key Details of the Subsidiary
- Entity Name: To be determined upon incorporation (referred to as 'Proposed Entity')
- Location: Dubai, United Arab Emirates
- Industry: Hotels and Hospitality
- Business Activities: The subsidiary will be engaged in operating hotels and restaurants, along with other related hospitality activities.
- Ownership Structure: 100% wholly owned subsidiary of ITC Hotels Limited
Approval and Timing
- Board Approval Date: 26th October, 2026
- Board Meeting Duration: Commenced at 12:35 p.m. and concluded at 1:20 p.m.
- Approval Status: Subject to receipt of necessary regulatory approvals from concerned authorities in Dubai
Financial Arrangements
- Investment Amount: Not exceeding ₹20 crores
- Investment Structure: ITCHL will subscribe to 100% of the share capital at face value
- Funding Schedule: The amount will be infused in tranches
- Consideration Type: Cash consideration
Regulatory Requirements
The incorporation is contingent upon obtaining necessary approvals from regulatory authorities in Dubai. The specific nature of these approvals is not detailed in the disclosure.