Latest News | GTI Capital Group Sells 4.7 Pc Stake in Samhi Hotels for Rs 193 Crore

New Delhi, Jun 28 (PTI) Investment firm GTI Capital Group on Friday divested a 4.7 per cent stake in hospitality firm Samhi Hotels for Rs 193 crore through open market transactions.

GTI Capital Alpha, an affiliate of Mauritius-based GTI Capital Group, offloaded shares of Samhi Hotels through separate block deals on the BSE.

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As per the data available, GTI Capital Alpha sold 1,03,36,865 shares, amounting to a 4.7 per cent stake in Samhi Hotels.

The shares were disposed of at an average price of Rs 187.1 apiece, taking the transaction value to Rs 193.40 crore.

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After the stake sale, the shareholding of GTI Capital Group in Samhi Hotels has declined to 1.5 per cent from 6.24 per cent.

ICICI Prudential Mutual Fund (MF), Tata MF, JM Financial MF, Quest Investment Advisors, Subhkam Ventures I, Morgan Stanley, and Abu Dhabi Investment Authority were among the buyers of shares of Samhi Hotels.

Shares of Samhi Hotels rose 1.22 per cent to close at Rs 191.05 per piece on the BSE.

Samhi Hotels operates under long-term management contracts with global hotel operators like Marriott, Hyatt, and IHG.

In a separate block deal on the NSE, private equity firm TPG sold 20 lakh shares of Solara Active Pharma Sciences for Rs 99 crore through an open market transaction.

US-based TPG through its arm TPG Growth IV SF Pte offloaded the shares of of API manufacturing firm Solara Active Pharma Sciences at an average price of Rs 495 apiece on the National Stock Exchange (NSE).

This took the deal value to Rs 99 crore.

These shares were acquired by Mumbai-based NBFC company Authum Investment & Infrastructure at the same price.

On Friday, shares of Solara Active Pharma Sciences surged 9.99 per cent to close at Rs 544.90 apiece on the NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)