Samhi Hotels (NSE:SAMHI, BOM:543984) said Singapore's GIC affiliate Reco Bellflower has completed its investment in two of its wholly owned subsidiaries - SAMHI JV Business Hotels and Ascent Hotels, according to a Tuesday filing on the local bourse.
The investment includes a primary infusion of 2.64 billion Indian rupees and a secondary share purchase of 1.15 billion rupees in SAMHI JV Business Hotels and a 2.25 billion rupee primary investment in Ascent Hotels, bringing the total deal value to 6.04 billion rupees.
Additional undrawn capital commitments of over 730 million rupees remain subject to final reviews.
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