Asian Hotels (East) Limited was originally incorporated on January 8, 2007 as a private limited company with the name Vardhman Hotels Private Limited. On July 28, 2007, the company was converted into public limited company and the name was changed to Vardhman Hotels Limited. Further, the name of the company was changed from Vardhman Hotels Limited to Asian Hotels (East) Limited with effect from February 16, 2010.
The Company is an owner and manager of Hyatt Regency, Kolkata, a luxury 5 star hotel located at Kolkata in India. The company operates Hyatt Regency, Kolkata which has a total of 233 rooms. Also, they are in the business of laundry, business centre and fitness centre facilities. The Company possess leasehold land in Bhubaneswar (Odisha) for setting up a hotel.
The company classifies their business divisions by the quality of the property, the range of services, and the guests they target. They derive the majority of their revenue from the Hyatt Regency Kolkata. The company is focused on the high end (five-star deluxe) hotel market.
In July 12, 2007, the company became a wholly owned subsidiary of erstwhile Asian Hotels Ltd. The company entered into a scheme of arrangement and de-merger with Asian Hotels Ltd (now known as Asian Hotels (North) Ltd) and Chillwinds Hotels Ltd (now known as Asian Hotels (West) Ltd) which became effective on February 11, 2010.
Pursuant to the scheme of arrangement and de-merger, the Kolkata Undertaking of Asian Hotels Ltd comp ...rising of Hotel Hyatt Regency, Kolkata along with shares held in GJS Hotels Ltd, Regency Convention Centre and Hotels Ltd and others were de-merged and vested in the company.
Hyatt Regency Chennai was opened on August 8, 2011.
In 2016-17, Forex Finance Private Limited (FFPL) got amalgamated with the Company through the Scheme of Amalgamation, which became effective on 5th September 2016. In consideration of the amalgamation, the Company issued and allotted 32,14,284 new Equity Shares of Rs. 10/- each to the shareholders of FFPL.
In 2019-20, the Scheme of Arrangement between the Company, GJS Hotels Limited (GJS) and Robust Hotels Private Limited (RHPL) and their respective shareholders and creditors for Demerger of Investment Division of GJS, a wholly-owned subsidiary into the Company and reorganisation of share capital of RHPL was made effective from July 24, 2019. As a result of the Scheme, all the securities held by GJS in RHPL were transferred to the Company and accordingly RHPL became a wholly owned subsidiary of the Company.
With reference to Regency Convention Centre and Hotels Limited, Kolkata (Regency), pursuant to the share purchase agreement dated 20th April, 2019, the balance purchase consideration of Rs.41 Crores was paid by Mumbai International Airport Limited on 29th April, 2022 and accordingly the entire shareholding (100%) of Regency i.e. 1,59,305 equity shares was transferred to Mumbai International Airport Limited (MIAL) on 4th May, 2022. Pursuant to such transfer of shares, Regency ceased to be subsidiary of the Company in 2021-22.
In 2023, the wholly owned subsidiary, Robust Hotels Limited, Chennai was demerged into the Company w.e.f. September 21, 2022 via Scheme of Arrangement and it ceased to be the wholly owned subsidiary of the Company in 2023.
FAQs on Asian Hotels (East) Ltd
1. Can I buy Asian Hotels (East) Ltd from PL Capital? ›
Yes, you can invest in Asian Hotels (East) Ltd shares directly through PL Capital. Our platform provides a seamless and secure way to buy, hold, and track Asian Hotels (East) Ltd stock along with other leading companies listed on the NSE and BSE. Simply open a Demat and trading account with PL Capital, and you’ll be able to trade Asian Hotels (East) Ltd as well as diversify your portfolio across equities, mutual funds, IPOs, and more.
2. Does Asian Hotels (East) Ltd pay dividends? ›
Yes, Asian Hotels (East) Ltd has a consistent history of rewarding its shareholders through dividend payouts. Dividend frequency and amounts vary depending on the company’s financial performance and board approvals. Investors holding Asian Hotels (East) Ltd shares on the record date announced by the company are eligible to receive dividends directly into their bank accounts linked with their Demat holdings.
3. What is the current share price of Asian Hotels (East) Ltd ? ›
As of
01-Jan-1980 , 00:00:00 the share price for Asian Hotels (East) Ltd. is ₹ 142.2 on the NSE (Note: Prices are dynamic and update frequently during market hours).
4. What is the 52-week high and low of Asian Hotels (East) Ltd ? ›
The 52-week high and low of Asian Hotels (East) Ltd share price is ₹ - ₹ as of
01-Jan-1980 , 00:00:00 .
