Jupiter India raises stake in EIH Associated Hotels
PTI December 7, 2010EIH Associated Hotels (EIHAH) on Tuesday said Jupiter India Fund has bought an additional 2.01 per cent stake in the hospitality firm for Rs 9.03 crore through an open market purchase.
The company has bought 3.93 lakh shares of EIHAH, upping its stake to 8.29 per cent from the current 6.28 per cent, the company said in a filing to the Bombay Stock Exchange.
Jupiter India Fund is an arm of UK-based Jupiter Asset Management, which holds 10.58 per cent stake in EIHAH.
EIH that runs the Oberoi brand of hotels and resorts has 38 per cent stake in EIHAH, which operates the Trident brand of hotels (except for Mumbai Trident).
Shares of EIHAH were trading at Rs 170, down 0.03 per cent from previous close.