Vitizen Hotels Limited becomes a subsidiary of Vidli Restaurants Ltd

Pursuant to the share purchase agreement with Conwy Hospitality Private Limited and Vitizen Hotels Limited and approvals granted by the Audit Committee, Board of Directors and members of the Company for the same, 31,45,510 shares of Rs. 10/- each (84.01%) at the rate of Rs. 13/- each of Vitizen Hotels Limited, an unlisted public limited company were transferred on 29th March 2022 from Conwy Hospitality Private Limited to the Company according to the terms and conditions mentioned in the Share Purchase Agreement.

Following the above transfer, Vitizen Hotels Limited became a significant unlisted subsidiary of the Company from 29 March 2022.

In addition, Mr Arun Jain, an independent director of the company, is appointed as a director to the board of Vitizen Hotels Limited on March 29, 2022.

Shares of Vidli Restaurants Ltd last traded on the BSE at Rs. 28.50 from the previous close of Rs. 30.00. The total number of shares traded during the day was 2500 in over 1 trade.

The stock hit an intraday high of Rs. 28.50 and intraday low of 28.50. The net turnover during the day was Rs. 71250.00.

Source: Stock market bulls


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