Jupiter India further hikes stake in EIH Associated Hotels

MUMBAI: Oberai Group-promoted EIH Associated Hotels today said Jupiter India Fund and Jupiter South Asia Investment have hiked their respective stakes in the company to 9.87 per cent and 3.61 per cent after acquiring shares through open market transactions.

In a regulatory filing with the Bombay Stock Exchange, EIH said the two investment funds have raised their total stake by buying over 4.80 lakh shares through open market purchase for about Rs 10.32 crore.

Jupiter India Fund has hiked its stake in the company by 2.26 per cent to 9.87 per cent, through its trustee The Royal Bank of Scotland, it said.

Similarly, after acquiring additional stake of 0.19 per cent, the total equity ownership of Jupiter South Asia Investment in EIHAH has gone up to 3.61 per cent, it said.

The acquisitions were made on February 4, it added. Last year in September, UK-based Jupiter Asset Management and its investment fund, collectively hiked stake in the hospitality firm by 2.11 per cent.

EIHAH runs the Trident brands of hotels, besides the Oberoi Rajvilas in Jaipur and Oberoi Cecil in Shimla.

The company's scrip closed at Rs 175.80 per share on BSE registering a rise of 4.02 per cent from the previous close.