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Rashi Eco tourism Ltd to come out with IPO

Press Trust of India  |  Bengaluru 

Hospitality firm Eco 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," Eco M J 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 Eco 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

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

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 10 2018. 17:45 IST