Elana Holdings PTE. LTD. has successfully completed a major acquisition in Asian Hotels (North) Limited, acquiring a substantial 39.42% equity stake through a preferential share allotment. The transaction, completed between February 02, 2026 to February 03, 2026, represents a significant corporate development that has transformed Elana Holdings into the majority shareholder of the hospitality company.

Transaction Details

The acquisition involved the allotment of 1,68,05,943 equity shares with specific pricing and structural parameters:

The pricing was determined in compliance with Regulation 164A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, ensuring adherence to regulatory pricing norms for preferential issues.

Shareholding Transformation

The transaction has significantly altered the ownership structure of Asian Hotels (North) Limited, with Elana Holdings' stake increasing substantially:

This transformation positions Elana Holdings as the controlling shareholder with majority ownership in the target company.

Regulatory Compliance Framework

The acquisition was structured under specific regulatory exemptions and compliance requirements:

• Exemption Basis: Regulation 10(2B) of SEBI (SAST) Regulations, 2011
• Open Offer Requirement: Exempted due to preferential issue structure
• Prior Disclosure: Not required under Regulation 10(5) due to preferential issue compliance
• Stock Exchange Listing: BSE Limited and National Stock Exchange of India Limited

The transaction was executed through a preferential issue mechanism, which provided regulatory exemptions from mandatory open offer requirements that typically apply to substantial acquisitions exceeding specified thresholds.

Corporate Structure and Authorization

Elana Holdings PTE. LTD., a Singapore-incorporated entity with UEN 202404722W, completed the acquisition with proper corporate authorization. The disclosure documents were signed by Shreya Agarwal, serving as Director and Authorized Signatory for the acquiring company.

The acquisition represents a strategic investment in the Indian hospitality sector, with Asian Hotels (North) Limited being the target company listed on major Indian stock exchanges. The transaction has been properly disclosed to regulatory authorities and stock exchanges in compliance with substantial acquisition disclosure requirements under SEBI regulations.

Asian Hotels (North) Limited has successfully completed the preferential allotment of 27,37,500 equity shares to Elana Holding PTE Ltd at an issue price of ₹330 per share. The Board of Directors approved this allotment through a circular resolution on January 28, 2026, following earlier approvals from the Board meeting held on October 14, 2025, and shareholder approval at the Extraordinary General Meeting on November 08, 2025.

Allotment Details and Financial Impact

The preferential allotment comprises 27,37,500 fully paid-up equity shares with a face value of ₹10 each, issued at ₹330 per share including a premium of ₹320 per share. The total amount raised through this allotment aggregates to ₹90,33,75,000.

Capital Structure Changes

Following the preferential allotment, Asian Hotels (North) Limited's paid-up equity capital has increased significantly. The company's equity base expanded from ₹19,45,32,290 to ₹22,19,07,290, representing the issuance of additional equity shares.

Shareholding Pattern

Elana Holding PTE Ltd, which had no prior shareholding in the company, now holds 27,37,500 equity shares representing a 12.34% stake in Asian Hotels (North) Limited post-allotment. This marks the entry of a new significant investor in the company's shareholding structure.

Regulatory Compliance and Next Steps

The preferential allotment has been conducted in accordance with the applicable provisions of the Companies Act, 2013, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Asian Hotels (North) Limited will be making an application to the stock exchanges for listing and trading approval for the newly allotted shares in due course. The company operates Hyatt Regency Delhi and continues to strengthen its capital base through this strategic equity infusion.