Advent Hotels International Ltd has approved the acquisition of the remaining 25% equity shareholding in its subsidiary, BD And P Hotels (India) Private Limited (BD&P Hotels), for a total consideration of ₹40 crore. Upon completion, BD&P Hotels will become a wholly owned subsidiary, consolidating the company’s control over the Hilton Mumbai International Airport hotel.

The Board of Directors approved the execution of a Share Purchase Agreement (SPA) at a meeting held on October 13, 2026. The transaction involves the purchase of 70,89,775 equity shares of ₹10 each from existing shareholders who are not related parties. The payment will be made via transfer of funds through banking channels.

Strategic Consolidation and Asset Details

BD&P Hotels owns and operates the Hilton Mumbai International Airport hotel, comprising 171 keys along with banquet, conference facilities, and shops on approximately 1.26 acres in Andheri (East), Mumbai. The acquisition is aligned with Advent Hotels’ hospitality business strategy, aiming to exercise complete ownership and greater strategic and operational control.

The target entity was incorporated on April 25, 1997. Its authorised capital stands at ₹45 crore, with a paid-up capital of ₹39.31 crore. The acquisition does not require governmental or regulatory approvals and is proposed to be completed on or before June 30, 2027.

Financial Performance of Target Entity

The following table outlines the turnover of BD&P Hotels over the last three financial years:

What the Numbers Show

The acquisition price of ₹40 crore for the 25% stake implies an implied enterprise valuation for BD&P Hotels that reflects its recent revenue trajectory. With FY26 turnover at ₹102.37 crore, up from ₹98.53 crore in FY25, the asset demonstrates steady top-line growth. The move to acquire the minority stake eliminates external shareholder interests, allowing Advent Hotels to fully consolidate the profits and operational decisions of this key hospitality asset.

Advent Hotels International Limited shareholders approved all four agenda items at the 20th Annual General Meeting held on September 29, 2026, with voting results declaring near-unanimous support for key corporate actions.

The meeting, conducted via video conferencing, saw the adoption of audited financial statements for FY26 and the appointment of Himmat Singh Sandhu as Managing Director and Chief Executive Officer. Shareholders also approved the re-appointment of Mohammed Salim Balwa as a director and an increase in authorized share capital.

Voting results summary

The Scrutinizer's report confirmed that all resolutions passed with requisite majorities through remote e-voting and e-voting at the AGM. The promoter and promoter group held 25,726,068 shares, casting 23,161,510 votes in favor across all items.

Key resolutions passed

The following businesses were transacted at the AGM:

• Adoption of audited standalone and consolidated financial statements for FY26
• Re-appointment of Mohammed Salim Balwa (DIN: 07939288) as Director
• Appointment of Himmat Singh Sandhu (DIN: 11917469) as Managing Director and CEO
• Increase in authorized share capital and alteration of Memorandum of Association

The company provided remote e-voting facilities prior to the meeting and allowed e-voting during the session. Voting results are expected to be declared within two working days of the conclusion of the AGM, upon receipt of the Scrutinizer's report. These results will be communicated to stock exchanges and published on the company website.

The meeting commenced at 3:00 pm and concluded at 3:37 pm.