Leela Palaces Hotels & Resorts Limited announces that its wholly-owned subsidiary, Aries Holdings (DIFC) Limited, will invest in Argon Holdings (DIFC) Limited. Aries Holdings will subscribe to 25% of the equity stake in Argon Holdings for up to INR 35,000. This move allows Leela Palaces to indirectly hold shares and voting rights in Argon Holdings, expanding its investment portfolio.
Investment in Argon Holdings
Aries Holdings (DIFC) Limited, a wholly-owned subsidiary of Leela Palaces Hotels & Resorts Limited, has committed to invest in Argon Holdings (DIFC) Limited. The agreement will see Aries Holdings subscribe to 25% of Argon Holdings’ equity stake.
Financial Details
The total investment will be up to INR 35,000. This capital injection will support Argon Holdings’ operational capabilities and strategic initiatives.
Indirect Shareholding
Through this investment, Leela Palaces Hotels & Resorts Limited will indirectly hold shares and voting rights in Argon Holdings (DIFC) Limited, aggregating to 25% of the total shares and voting rights.
About Argon Holdings
Argon Holdings (DIFC) Limited, incorporated on October 11, 2023, is an investment company based in the United Arab Emirates. Its turnover for FY24 and FY25 were reported as NIL. The promoters of Leela Palaces are also the promoters of Argon Holdings.
Strategic Rationale
The investment is aimed at exploring business opportunities in the UAE. The transaction was conducted on an arm’s length basis.
Completion Timeline
The acquisition is expected to be completed by the end of 2025.
Source: BSE
