+
Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).
In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.
As per the resolution plan, the consortium will make a payment of Rs 9.19 billion, covering full and final settlement of outstanding claims and unpaid dues. The plan involves the transfer of 100 per cent ownership of Hotel Horizon to the consortium or a designated special purpose vehicle. Oberoi Realty stated the acquisition is in line with its broader strategic goals.
Hotel Horizon owns a 7,500-square-metre plot in Mumbai’s upscale Juhu locality, overlooking the Arabian Sea, where a retail and hotel complex is under development. Established in 2004, the company entered insolvency proceedings in 2019, with the National Company Law Tribunal appointing an interim resolution professional in January that year.
Among its secured financial creditors were CFM Asset Reconstruction Pvt Ltd and JM Financial Asset Reconstruction Co Ltd, who submitted claims of Rs 10.79 billion and Rs 7.56 billion, respectively. Combined with claims from other creditors and the income tax department, total claims amounted to Rs 19.28 billion, of which Rs 16.56 billion were admitted by the NCLT.
The final resolution amount of Rs 9.19 billion thus represents just over 55 per cent of the approved claims, with the remainder effectively written off.
Following the announcement, Oberoi Realty’s shares rose 1.2 per cent on Tuesday, reflecting positive investor sentiment towards the resolution. 

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.19 billion, covering full and final settlement of outstanding claims and unpaid dues. The plan involves the transfer of 100 per cent ownership of Hotel Horizon to the consortium or a designated special purpose vehicle. Oberoi Realty stated the acquisition is in line with its broader strategic goals.Hotel Horizon owns a 7,500-square-metre plot in Mumbai’s upscale Juhu locality, overlooking the Arabian Sea, where a retail and hotel complex is under development. Established in 2004, the company entered insolvency proceedings in 2019, with the National Company Law Tribunal appointing an interim resolution professional in January that year.Among its secured financial creditors were CFM Asset Reconstruction Pvt Ltd and JM Financial Asset Reconstruction Co Ltd, who submitted claims of Rs 10.79 billion and Rs 7.56 billion, respectively. Combined with claims from other creditors and the income tax department, total claims amounted to Rs 19.28 billion, of which Rs 16.56 billion were admitted by the NCLT.The final resolution amount of Rs 9.19 billion thus represents just over 55 per cent of the approved claims, with the remainder effectively written off.Following the announcement, Oberoi Realty’s shares rose 1.2 per cent on Tuesday, reflecting positive investor sentiment towards the resolution. 

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code