Mumbai, March 19 -- Jenipro Hotels' main business activity is to purchase, construct, acquire or otherwise deal in hotels and related services and operates within Indian market.

The company will develop a 5 star hotel/resort of International Standard on Kaziranga Land which has been taken on lease by Jenipro from Assam Tourism Development Corporation to develop a tourism infrastructure under a public-private partnership (PP) model.

The company will acquire a 100% stake in Jenipro Hotels for a total consideration of Rs 2.74 crore, at Rs 2,747.43 per share.

Post acquisition, Jenipro Hotels Private will become wholly owned subsidiary of the company. The transaction is a related party transaction, as Juniper Investments, the promoter of th...