Leela Palaces plans to invest Rs 185 crore for new hotel in Ayodhya
Luxury hotel company Leela Palaces Hotels & Resorts plans to invest Rs 185 crore in its subsidiary, Buildminds Real Estate Private Limited. The investment will be used to fund the construction of an upcoming five-star hotel in Ayodhya.
According to the company, the investment in Buildminds will be made through the subscription of Compulsorily Convertible Preference Shares (CCPS) in one or more tranches over one or more years, before the financial year 2028–29.
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