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Hospitality firm Royal Orchid Hotels has acquired Amartara Hospitality by buying additional 24.9 per cent stake in it.
The company has acquired 24.9 per cent shares in Amartara Hospitality Pvt Ltd. Upon acquisition of shares, Amartara Hospitality has become 100 per cent subsidiary of the company, Royal Orchid Hotels said in a filing to the BSE.
Royal Orchid Hotels held 75.10 per cent shares in Amartara Hospitality and has acquired additional 24.90 per cent stake, it added.
The shares are acquired at a consideration of Rs two crore and fifty lakh only, Royal Orchid Hotels said.
Shares of the company ended higher by 5.13 per cent at Rs 79.90 on the BSE.
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