IHCL Infuses Rs 220 Crore into IHOCO BV for Overseas Expansion
Indian Hotels Company Limited (IHCL) has announced a capital infusion of nearly Rs 220 crore into its wholly owned subsidiary IHOCO BV, based in the Netherlands. The investment will support IHOCO BV's debt repayment and operational needs. The transaction involves equity capital at a USD to Rs conversion rate of 87.875.
- Country:
- India
In a strategic financial move, Indian Hotels Company Limited (IHCL) is injecting close to Rs 220 crore into its subsidiary IHOCO BV in the Netherlands.
The investment aims to bolster IHOCO BV's financial foundation, facilitating debt repayment and meeting operational requirements, according to a late-night regulatory communication by Tata Group-owned IHCL.
Recorded in IHCL’s regulatory filings, the capital boost translates to USD 25 million, calculated at a conversion rate of 87.875 rupees per US dollar.
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