The primary business of the company is the ownership, management and operation of five star deluxe and five star hotels in major tourist destinations throughout India. EIH Associated Hotels is an associate company of EIH Limited, the flagship company of The Oberoi Group, one of the largest and most well-known hospitality groups in India. Founded in 1934, The Oberoi Group operates 28 hotels and three cruisers in five countries under the luxury 'Oberoi' and five-star 'Trident' brands.
EIH Associated Hotels Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a rights issue of its equity shares and has filed the Draft Letter of Offer with the SEBI. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the website of the Lead Manager i.e. Ambit Corporate Finance Private Limited at www.ambitholdings.com. Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
For the Financial Year ended on 31st March, 2011, EIH Associated Hotels Limited posted a net profit after tax of र 12.01 crore which is a 127% growth over the previous year. The net sales of the Company rose to र 176.34 crores in YTD March 2011, which is an 18.35% growth or र 27.35 crore over YTD March 2010.