Leela Palaces Hotels & Resorts to invest up to Rs 185 cr in Buildminds

Leela Palaces Hotels & Resorts proposes to make an investment of up to Rs 185 crore in Buildminds, a subsidiary of the Company, by way of subscription to Compulsorily Convertible Preference Shares (CCPS).

Buildminds is engaged in the development of our upcoming 5-star Hotel at Ayodhya. The proposed investment forms part of the Company's overall commitment to fund the capital requirements of Buildminds and is intended to support its ongoing business operations, project development activities and long-term growth plans.

The investment shall be made in one or more tranches, depending upon the funding requirements. Being an investment in an existing subsidiary this will not result in any change in the management control or any economic interest in Buildminds.