Dreamfolks Services to acquire 50.01% stake in Ten 11 Hospitality LLP for ₹11.46 crore
Dreamfolks Services will acquire a 50.01% stake in Ten 11 Hospitality LLP for ₹11.46 crore to strengthen its railway lounge services and value chain.
The acquisition of a majority stake in a key service partner for railway lounge operations, involving a significant investment of ₹11.46 crore, will substantially impact Dreamfolks' operational capabilities and market presence in the hospitality sector, particularly in railway services, leading to potential revenue growth and expanded service offerings.
The acquisition is strategic, aimed at consolidating the value chain and strengthening railway lounge operations, which is positive for business growth and market position.
* Dreamfolks Services Limited's Board of Directors approved the acquisition of a 50.01% partnership stake in Ten 11 Hospitality LLP for an amount not exceeding ₹11.46 crore. * The acquisition will result in Ten 11 Hospitality LLP becoming a subsidiary of Dreamfolks Services Limited. * The objective of this acquisition is to consolidate and strengthen Dreamfolks' value chain over its existing railway lounge service operations by acquiring one of its key current service partners. * The impact of this acquisition will be the provision of physical infrastructure and assets at key railway stations for lounges, along with the potential for other upcoming railway services. * Ten 11 Hospitality LLP was incorporated on September 11, 2021, and is engaged in operating premium lounges, primarily in India. * The turnover for Ten 11 Hospitality LLP was ₹8.65 crore for FY 2024-25, ₹2.14 crore for FY 2023-24, and ₹59.87 lakh for FY 2022-23. * The acquisition is not a related party transaction and is expected to be completed within approximately 15 days from the board meeting date. * The consideration for the acquisition will be paid in cash through online banking channels.
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Dreamfolks Services Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Dreamfolks Services Limited. Read the original for the full detail.