Board of Chalet Hotels approves acquisition of Mahananda Spa and Resorts

At meeting held on 10 February 2025

The Board of Chalet Hotels at its meeting held on 10 February 2025 has, inter-alia, considered and approved the acquisition of Mahananda Spa and Resorts, a Wholly Owned Subsidiary of Mankind Pharma, and owning company of The Westin Resort & Spa, Himalayas a 141 room hotel at Rishikesh. The Company is in the process of entering into definitive agreements with the parties. The acquisition of 100% stake is at an enterprise value of Rs 530 crore (to be adjusted for net current asset).

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