24/4/2025, 4:37:03 pm

SAMHI Hotels shares shoot up 13% on Rs 2,200 cr JV with GIC

SAMHI Hotels shares rose 13% after announcing a Rs 2,200 crore joint venture with GIC to create an investment platform for upscale hotels in India. The partnership includes five properties with over 1,000 rooms in Bengaluru and Pune. GIC will acquire a minority stake, with funds used for capital expenditure, acquisitions, and debt reduction, strengthening SAMHI's balance sheet and growth.