Rashi Eco tourism Ltd to come out with IPO

Hospitality firm Rashi Eco Tourism ltd Wednesday said it would come out with an IPO in next three years to raise funds to take up eco-luxury projects in neighbouring states.

"In next three years, we are eyeing to offer initial public offering (IPO). With this, we will raise Rs 100 crore to take up eco-luxury projects in Andhra Pradesh, Telangana and Tamil Nadu," Rashi Eco Tourism Chief Spokesperson M J Srikant told reporters here.

At present, the company has five eco-luxury projects and plans to set up ten more concept-based flagship attractionsin Karnataka, he said.

Of the ten proposed properties, five would be owned by Rashi Eco Tourism Limited, he added.

Earlier, the company had launched Siri Nature Roosts, an ensemble of unique nature blended luxury cottages.

The firm had created the award winning 'Guhantara' in the city in 2008, which it claimed was the first cave resort in India.

Siri Nature Roosts marks company's entry into the eco luxury premium segment, Srikant noted.

Annually, nearly 2.50 lakh people experience the blend of ecotourism and hospitality at Rashi's nature themed projects, he added.