Advent Hotels International Limited has executed an investment agreement with Prestige Estates Projects Limited to facilitate a joint venture for a commercial project in Mumbai. Under the terms of the agreement, Prestige Estates will acquire a 50% equity stake in Advent Convention and Hotels International Limited (ACHIL) for an aggregate consideration of ₹504 crores. This transaction converts ACHIL into a 50:50 joint venture entity, with both parties holding equal economic and voting rights. The project involves a land parcel measuring 21,978.22 sq. meters located at Sahar, Village Andheri, Mumbai, and entails a total leasable area of approximately 1.50 million sq. ft. with a Gross Development Value of approximately ₹4,500 Crores.

Investment Agreement Details

The agreement was executed on July 3, 2026, and is subject to the fulfillment of customary terms and conditions. Consequent to this acquisition, ACHIL will cease to be a wholly-owned subsidiary of Advent Hotels International Limited. The transaction stems from a Framework Agreement previously entered into by Valor Estate Limited, the erstwhile holding company of Advent Hotels International, along with its subsidiaries. Following a composite scheme of amalgamation approved by the National Company Law Tribunal (NCLT) in June 2025, the hotel undertaking and the project property were demerged into Advent Hotels International Limited, which subsequently conveyed the property to ACHIL.

The key terms of the transaction are summarised below:

Target Entity Background

Advent Convention and Hotels International Limited is a wholly-owned subsidiary of Advent Hotels International Limited and was designated as the exclusive Special Purpose Vehicle (SPV) for the project. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE28GN01010/150676a4fd5e4d54.pdf

Advent Hotels International Ltd has acquired 10,95,000 preference shares of its subsidiary BD and P Hotels (India) Private Limited for ₹10.95 crore. The Board of Directors approved the acquisition on July 1, 2026, to facilitate the creation of security for proposed non-convertible debentures (NCDs). This transaction allows the company to pledge the preference shares in favor of a lender, streamlining the security creation process by eliminating the need for multiple preference shareholders to execute documentation individually.

The company acquired the entire 9% Non-Cumulative Redeemable Preference Shares of the face value of ₹100 each from existing preference shareholders. This constitutes a related party transaction as the promoter group has an interest in the preference shares of BD and P Hotels. The transaction was conducted at arm's length. The consideration of ₹10.95 crore will be paid through banking channels, and the acquisition is expected to be completed within 30 days or as mutually extended.

Financials of BD and P Hotels

BD and P Hotels, incorporated on April 25, 1997, operates in the hotel and hospitality business. The subsidiary reported a revenue from operations of ₹102,36,74,576 as on March 31, 2026. The company already holds 75% equity shares in BD and P Hotels, and with this acquisition, it will hold 100% of the preference holdings.

Transaction Details

The acquisition is part of a broader strategy where subsidiaries Goan Hotels & Realty Private Limited and BD and P Hotels propose to issue senior, secured, interest-bearing, redeemable NCDs. Shareholders of Advent Hotels International Ltd had previously approved the creation of security via a special resolution passed on March 15, 2026. The authorized capital of BD and P Hotels stands at ₹45,00,00,000, divided into 3,00,00,000 equity shares of ₹10 each and 1,50,00,000 preference shares of ₹10 each.