- Home >> Puducherry
PIPDIC to buy 51% equity held by ITDC in Ashok hotel
- | Wednesday | 19th April, 2017
The PIPDIC would have to shell out around ?65 crore to buy the equity stakes of ITDC in hotel Ashok. Hotel Pondicherry Ashok is a joint venture in which ITDC holds 51%, with PIPDIC holding the remaining 49 per cent stake. The Pondicherry Industrial Promotion Development and Investment Corporation Limited has decided to buy 51% shareholding of India Tourism Development Corporation (ITDC) in Hotel Pondicherry Ashok at Kalapet. The government had given the go-ahead to PIPDIC to buy the share after the Union Ministry of Tourism had decided to transfer its holdings in three properties — Hotel Pondicherry Ashok, Hotel Patliputra Ashok in Patna and Hotel Donyi Polo in Itanagar — to the respective State governments. The Chief Minister would also meet Union Minister for Agriculture Radha Mohan Singh.
If You Like This Story, Support NYOOOZ
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
Stay updated with all the Latest Puducherry headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.