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InterGlobe Hotels to invest about Rs 550 crore on two new properties by 2025, ET RealEstate

The company -- a 60:40 joint venture between InterGlobe Enterprises Pvt Ltd and Accor Asia Pacific -- opened its new 'ibis Styles' hotel here and plans to open a new property under the 'ibis' brand in Mumbai by the end of next year, followed by the launch of a new hotel under the Novotel brand in Bengaluru early 2025.

InterGlobe Hotels to invest about Rs 550 cr on two new properties by 2025

hotels: InterGlobe Hotels to invest about Rs 550 cr on two new properties by 2025

InterGlobe Hotels, a joint venture between InterGlobe Enterprises and Accor Asia Pacific, plans to invest approximately Rs 550 crore to open two new properties in Mumbai and Bengaluru by 2025. The company recently launched an 'ibis Styles' hotel in Vagator and aims to open an 'ibis' brand hotel in Mumbai by the end of next year, followed by a Novotel brand hotel in Bengaluru in early 2025.

InterGlobe Hotels to invest about Rs 550 crore on two new properties by 2025

InterGlobe Hotels, established in 2004 to develop a network of 'ibis' hotels throughout India, Nepal, Sri Lanka, and Bangladesh, has committed an investment of Rs 6,000 crore across 30 hotels, he added. Get more Real Estate News and Business News on Zee Business.

India Inc's foreign investment rose over two-times to $2.51 billion in April: RBI

India Inc's foreign investment jumps over two-folds to $2.51 bn in Apr'21

Indian investors had committed USD 1.21 billion worth of outward foreign direct investment (OFDI) in April 2020. Of the total commitment of USD 2.51 billion in April this year by the Indian company owners, USD 1.75 billion was in the form of loan, USD 421.42 million as equity capital and USD 333.11 million was chipped in through issuance of guarantee, showed the RBI data on OFDI for the month of April 2021. In March 2021, Indian firms made investment of over 1.99 billion in their overseas ventures. Among the major investors, Tata Steel invested USD 1 billion in its wholly owned subsidiary in Singapore, Interglobe Enterprises Pvt Ltd invested USD 145.61 million in a joint venture based in the UK and Reliance Industrial Investments & Holdings Ltd committed USD 78.52 million in a fully owned unit in the UK.

India Inc's foreign investment jumps over two-folds to $2.51 billion in April 21

Pixabay India Inc's foreign investment in the first month of this current fiscal jumped by more than two-times year-on-year to USD 2.51 billion, data from the Reserve Bank showed on Monday. Indian investors had committed USD 1.21 billion worth of outward foreign direct investment (OFDI) in April 2020. Of the total commitment of USD 2.51 billion in April this year by the Indian company owners, USD 1.75 billion was in the form of loan, USD 421.42 million as equity capital and USD 333.11 million was chipped in through issuance of guarantee, showed the RBI data on OFDI for the month of April 2021. In March 2021, Indian firms made investment of over 1.99 billion in their overseas ventures.

India Inc's foreign investment jumps over two-folds to $2.51 billion in April 2021