HBI Staff | Hyderabad 
ITC has increased its shareholding in EIH Limited and HLV Limited by acquiring additional stakes from its wholly-owned subsidiary, Russell Credit Limited. The company purchased a 2.44% stake in EIH’s share capital, comprising 15,232,129 equity shares of INR 2 each (INR), valued at approximately INR 717.93 million (USD ~8.63 million). ITC also acquired a 0.53% stake in HLV, amounting to 3,460,829 equity shares of INR 2 each (INR), worth around INR 162.61 million (USD ~1.96 million).
With this acquisition, ITC now holds a 16.13% stake in EIH’s paid-up share capital and an 8.11% stake in HLV. EIH, the flagship company of The Oberoi Group, is a prominent name in the luxury hospitality sector, while HLV is closely associated with The Leela Mumbai.
Source: CNBC TV 18
