Asian Hotels (North) to raise ₹764.94 crore from Elana Holdings investment

Asian Hotels (North) Limited (AHNL) announced the execution of a definitive share subscription agreement with Elana Holdings Pte. Ltd., Singapore. This agreement facilitates a preferential issue of up to 23,180,000 equity shares at an issue price of ₹330 per share, including a premium of ₹320, aiming to raise a maximum of ₹764.94 crore. This investment from Elana Holdings, a non-promoter financial investor, will be used exclusively for paying outstanding loans and defaulted interest.

The company's board of directors also approved an increase in its authorized share capital from ₹70,00,00,000 to ₹75,00,00,000, comprising 4,50,00,000 equity shares and 3,00,00,000 preference shares of ₹10 each. These changes, along with the preferential issue, are subject to shareholder and regulatory approvals, to be sought at an extraordinary general meeting (EGM) scheduled for Saturday, November 08, 2025. Elana Holdings is expected to hold 54.37% of the company's shares on a fully diluted basis post-allotment.