Mumbai, Oct. 24 -- The investment will be made by subscribing to 63,000 equity shares of $10 each at an issue price of $28 per share, including a premium of $18 per share, on a rights basis.

The transaction, which is expected to be completed by November 7, 2025, is not a related party transaction, the company said in its filing. The consideration for the acquisition will be made entirely in cash.

IHCL stated that the proceeds from this investment will be infused into St. James Court Hotels, a step-down subsidiary, to facilitate repayment of debt in that entity.

OIHK, incorporated on September 8, 1994, operates in the hospitality sector and is based in Hong Kong. The subsidiary reported a turnover of US$ 245,988 (Rs 2.18 crore) in FY202...