Indian Hotels Company Limited (IHCL) on Monday (December 1) said its wholly-owned subsidiary, Roots Corporation Limited (RCL), has acquired a 51% stake each in Pride Hospitality Private Limited and ANK Hotels Private Limited. The investments were made through separate accession agreements for a total consideration of ₹81.2 crore in Pride Hospitality and ₹109.3 crore in ANK Hotels.
RCL has subscribed to 1,14,490 equity shares in Pride Hospitality at an issue price of ₹7,091 per share, amounting to ₹81.2 crore. For ANK Hotels, RCL acquired 7,432 equity shares at ₹1,47,059 per share, totalling ₹109.3 crore. Both investments result in RCL holding 51% of the fully diluted share capital of each company.
Following the completion of the transactions, both Pride and ANK will become subsidiaries of RCL and step-down subsidiaries of IHCL. The two companies together bring a portfolio of more than 140 midscale hotels operated under The Clarks Hotels & Resorts brand across India.
ANK Hotels, incorporated in 1996 and based in Lucknow, manages 119 midscale hotels, with 67 currently operational. It reported a turnover of ₹14.32 crore in FY25. Pride Hospitality, incorporated in 2005 and headquartered in Jaipur, operates 28 hotels, of which 14 are in operation, and posted ₹19 crore in revenue in FY25. Both entities operate in the hospitality sector with a focus on hotels and resorts.
The shares of the company ended 0.6% in the green on Monday, December 1. The stock has fallen over 14% in the year so far.
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