The company has acquired 24.9 per cent shares in Amartara Hospitality Pvt Ltd. Upon acquisition of shares Amartara Hospitality has become 100 per cent subsidiary of the company, Royal Orchid Hotels said in a filing to BSE.
Royal Orchid Hotels held 75.10 per cent shares in the target company and has acquired additional 24.90 per cent stake, it added.
The shares are acquired at a consideration of Rs two crore and fifty lakh only, Royal Orchid Hotels said.
Shares of the company were today trading up 6.58 per cent at Rs 81 apiece on BSE.