 "Vatika Hotels buys back shares from Goldman for Rs 3 bn, plans IPO in Q3")
Vatika Hotels, the hospitality arm of the Gurgaon-based real estate major Vatika group, has bought back shares held in it by US banking group Goldman Sachs for Rs 3 billion. Now owning 100 per cent of its equity, the company is planning to go for and IPO the third quarter of the 2018 calendar year.
In 2007, the Vatika group had raised Rs 9 billion in the form of equity. Goldman Sachs, the largest investor along with Baer Capital Partners had invested Rs 6 billion in the group, while Wachovia Bank had put in Rs 2 billion, and Zaheer Mauritius
