EaseMyTrip.com to invest Rs 100 cr for a new 5-star hotel in Ayodhya

EaseMyTrip.com announced the in-principal approval of the board by proposing its newest joint venture: a luxurious 5-star hotel in the prime location of Ayodhya, strategically situated near the iconic Shree Ram Mandir.

This initiative represents a significant stride towards enriching the spiritual journey of pilgrims and tourists. The hotel's prime location, less than 1 kilometer from the revered temple, promises guests an unparalleled blend of spirituality and luxury.

EaseMyTrip, as one of the joint venture partners, is committing to invest up to Rs 100 crore in Jeewani Hospitality, the entity super heading the project under incorporation. This investment will represent 50% of the total paid-up share capital of the JV Company on a fully diluted basis through equity swap, once finalized. These details are outlined in the proposed JV transaction agreed upon by the involved parties.

Powered by Capital Market - Live News