Regarding SRAPL
The last annual report mentions about the same that the STP was set up on the land of SRAPL in Vile Parle. The Orchid Vile parle hotel itself was inagurated in 1997 so its been nearly 27 years . Not sure if KHIL paid any amount earlier for the use of this land.
Yesterday’s update also mentions that this is a key requirement of the lenders to make this land a KHIL asset
SRAPL already owns 0.77% of KHIL whose shares will be cancelled post merger
The value attributed to SRAPL is 25,400 shares x 124 (ratio) x 256 current share price = 80 Cr
Regarding TRPL
This is a 16 acre land parcel for which 75,000 x 20 (ratio) x 256 current share price = 38 Cr approx value , so approx cost of 2.4 cr/acre. This allows them to develop hotel on 5 acre and 11 acres can be for other real estate users
Any real estate savvy folks can comment on the attractiveness of this deal?
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