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Showing posts from August 28, 2010

Kamat Hotels (India) allots equity shares

According to a report in, the board of Kamat Hotels (India) on yesterday has allotted 18,43,810 fully paid up equity shares of Rs 10 each to the bondholder upon conversion of part of FCCBs. The issued, subscribed and paid up capital of the company, after the allotment has increased from Rs 13.20 crore divided into 1,31,97,395 equity shares of Rs 10 each to Rs 15.04 crore divided into 1,50,41,205 equity shares of Rs 10 each.

Promoters of Asian Hotels restructure stakes

The promoters of the erstwhile Asian Hotels have restructured their holdings through bulk deals worth Rs 500 crore in line with their decision to split the hospitality business region-wise. The promoters — Guptas, Jatias and Sarafs — exchanged stakes among themselves through several deals recently to hold around 55 per cent stake each in Asian Hotels (W), Asian Hotels (N) and Asian Hotels (E) respectively.

Gujarat government to develop Saputara hill station as tourism hub

Gujarat government is developing Saputara, the only hill station of the state as a tourism hub. A master plan for developing Saputara has been drafted by The Research and Design Cell Faculty of Architecture, Sarvajanik College of Engineering & Technology, Surat and work has already commenced for the first phase of the plan. The state government is investing Rs 150 crore in the first phase of the project and is looking at acquiring investments from the private sector for various components of the master plan.