Leela Palaces Hotels & Resorts Limited has incorporated a wholly owned subsidiary as part of its business expansion strategy. The company announced this development through a regulatory filing under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Subsidiary Incorporation Details

The Ministry of Corporate Affairs, Government of India issued the Certificate of Incorporation for Leela Essence Hospitality Private Limited. The subsidiary has been registered with the Registrar of Companies, Delhi and is yet to commence its business operations.

Business Objectives and Strategic Focus

The main objective of Leela Essence Hospitality Private Limited is to own, operate, manage and develop luxury hotels and resorts under The Leela brand. This incorporation aligns with the parent company's core business of luxury hospitality services.

Financial Structure

The subsidiary has been incorporated with a modest capital structure, reflecting its early-stage status. Leela Palaces Hotels & Resorts holds 100% share capital of Leela Essence along with its nominee shareholders through a cash subscription model.

Regulatory Compliance

The incorporation has been completed in compliance with regulatory requirements, and the information has been disclosed to stock exchanges where Leela Palaces Hotels & Resorts Limited is listed. The company has confirmed that this subsidiary incorporation does not fall within related party transactions as it represents the establishment of a wholly owned subsidiary.

Current Status

Leela Essence Hospitality Private Limited is incorporated in India and registered with the Registrar of Companies, Delhi. As a newly incorporated entity, it has not yet commenced commercial operations.

Leela Palaces Hotels & Resorts Limited has incorporated a wholly owned subsidiary, Leela Nirvana Resorts Private Limited, as disclosed in a regulatory filing. The newly incorporated subsidiary has been established with an authorized share capital of ₹5.00 lakh and a paid-up capital of ₹1,000.

Subsidiary Details

The newly incorporated subsidiary has been established with specific capital structure and business objectives aligned with the parent company's luxury hospitality focus.

Business Objectives

The main object of Leela Nirvana Resorts Private Limited is to own, operate, manage and develop luxury hotels and resorts under The Leela brand. This aligns with the parent company's core business of luxury hospitality services.

Financial Structure

The subsidiary has been incorporated through 100% subscription to the share capital in cash. Leela Palaces Hotels & Resorts Limited holds complete ownership of Leela Nirvana along with its nominee shareholders.

Current Status

Leela Nirvana Resorts Private Limited is yet to commence its commercial operations.

The incorporation of this new subsidiary is part of Leela Palaces Hotels & Resorts Limited's strategic expansion in the luxury hospitality sector.