Jupiter India hikes stake in EIH Associated Hotels
EIH Associated Hotels (EIHAH) that runs most of the Trident brands of hotels, today said Jupiter India Fund and Jupiter South Asia Investment have collectively hiked their stake in the hospitality firm by 2.11 per cent.
In an announcement to the Bombay Stock Exchange, EIHAH said the two investment funds have increased their total stake to 11.04 per cent from 8.93 per cent through open market purchase of shares for about Rs 9.3 crore.
Jupiter India fund has hiked its stake in the company by 1.33 per cent taking its total stake to 7.61 per cent, through its trustee The Royal Bank of Scotland, it said.
Similarly, after acquiring additional stake of 0.77 per cent, the total equity ownership of Jupiter South Asia Investment in EIHAH has gone up to 3.43 per cent, the announcement said.
The acquisitions were made between September 4-29, it added.
Earlier this month UK-based Jupiter Asset Management and its investment fund, collectively hiked stake in the hospitality firm by 2.12 per cent.
EIHAH runs the Trident brands of hotels, besides the Oberoi Rajvilas in Jaipur and Oberoi Cecil in Shimla.
The company's scrip closed at Rs 231.00 per share on BSE registering a rise of 2.19 per cent from the previous close.
For the financial year 2009-10, EIHAH registered sales of Rs 148.81 crore and net profit of Rs 5.29 crore.