Tata Group company announces major purchase

Indian Hotels Company Limited (IHCL), a Tata Group company, announced after the stock market closed on Monday that its wholly-owned subsidiary, Roots Corporation Limited (RCL), has acquired a 51% stake each in Pride Hospitality Private Limited and ANK Hotels Private Limited. This investment was made under two separate agreements, in which RCL invested ₹81.2 crore in Pride Hospitality and ₹109.3 crore in ANK Hotels.

The company stated that RCL subscribed for 114,490 equity shares in Pride Hospitality at ₹7,091 per share and purchased 7,432 shares in ANK Hotels at ₹147,059 per share. Following these transactions, RCL will hold a 51% stake in both companies, and they will become subsidiaries of RCL and a step-down subsidiary of IHCL.

Portfolio of over 140 midscale hotels nationwide

Pride Hospitality and ANK Hotels together own a portfolio of over 140 midscale hotels across the country under the The Clarks Hotels & Resorts brand. Lucknow-based ANK Hotels was established in 1996 and operates 119 midscale hotels, of which 67 are currently operational. The company’s turnover in FY25 was ₹14.32 crore. Jaipur-based Pride Hospitality, established in 2005, operates 28 hotels, of which 14 are operational, and had revenue of ₹19 crore in FY25.