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Majestic Auto has completed the acquisition of Sharan Hospitality Private Limited, which is now its wholly-owned subsidiary, following a court-ordered Resolution Plan implementation.
Majestic Auto completed the ₹105.43 Crore infusion for the Sharan Hospitality resolution plan. Sharan Hospitality is now a wholly-owned subsidiary of the company.
Majestic Auto invested ₹35.79 Crore in Sharan Hospitality via NCDs, continuing its Resolution Plan implementation. This acquisition forms part of a planned asset transfer.
Majestic Auto Limited has acquired a 100% stake in Sharan Hospitality Private Limited for ₹5 Crore to implement a court-approved Resolution Plan.