Advent Hotels Jumps 15% After Rs 504 Crore Stake Sale To Prestige Estates
Advent Hotels sold a 50% stake in subsidiary ACHIL to Prestige Estates for Rs 504 crore, forming a JV to develop a commercial real estate project on 21,978 sq m in Sahar, Andheri East, Mumbai. Shares surged to Rs 161.10, lifting market cap toward Rs 808.6 crore.
Advent Hotels shares jumped 15% after selling 50% of subsidiary ACHIL to Prestige Estates for Rs 504 crore, forming a JV to develop a commercial real estate project in Sahar, Andheri East, Mumbai.