Goldman Sachs sells Samhi Hotels' shares worth Rs 343 crore

The US-based Goldman Sachs on Tuesday sold Samhi Hotels' shares for Rs 343 crore through an open market transaction.

Investment company Goldman Sachs through its affiliate Goldman Sachs Investments Holdings Asia Ltd offloaded shares of Samhi Hotels on the National Stock Exchange (NSE).

According to the NSE, Goldman Sachs Investments Holdings Asia sold 1,70,92,202 shares, amounting to a 7.84 per cent stake in Samhi Hotels.

The shares were disposed of at an average price of Rs 200.55 apiece, taking the transaction value to Rs 342.78 crore.

Meanwhile, Goldman Sachs (Singapore) Pte acquired 72.66 lakh shares and Aditya Birla Sun Life Mutual Fund bought 15 lakh shares of Samhi Hotels.

The shares were purchased within the price range of Rs 200.18-202.54 apiece by both entities, taking the deal value to Rs 175.84 crore.

On Tuesday, shares of Samhi Hotels fell 2.07 per cent to close at Rs 205.70 apiece on the NSE.

Samhi Hotels Ltd (SAMHI) is the third-largest hotel ownership and asset management platform in India, with operating brands, including Courtyard by Marriott, Fairfield by Marriott, Hyatt Regency, Hyatt Place, Sheraton and Holiday Inn Express by IHG.

In September last year, Samhi Hotels shares had a stellar debut on the NSE and BSE, settling nearly 16 per cent higher on the bourses.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)