Juniper Hotels to buy Novotel Imagicaa for ₹248 crore
In short
Juniper Hotels will buy Novotel Imagicaa for ₹248 crore. The board approved the cash deal and the related MoU today, and the hotel has 287 keys in Khopoli.
This could add an operating property to Juniper Hotels’ portfolio. The deal’s closing date and any longer-term financial impact are not stated.
What the reporting says
Juniper Hotels will acquire Novotel Imagicaa for ₹248 crore, with the board approving the cash deal and related MoU at today’s meeting. The reporting says there will be no share issuance and no related-party classification, and that the 287-key Khopoli hotel would add an operating cash-generating asset to the portfolio. Juniper Hotels shares ended at ₹214.40, down ₹1.05, or 0.49%, on the BSE.
Why it matters
Juniper Hotels will acquire Novotel Imagicaa for ₹248 crore after board approval of the cash deal and related MoU at today’s meeting. The reporting says there is no share issuance and no related-party classification, and that the 287-key Khopoli hotel would add an operating, cash-generating property to the portfolio. Shares of Juniper Hotels ended lower on the BSE, but the closing impact of the acquisition is not yet stated.