Ambani buys into Oberois in East India
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Mukesh Ambani is the new partner of the Oberois in East India Hotels. He has taken 14.8% in the company which has brought the stake of the Oberois down to around 32%. With a rights issue of INR1,300 crore on the cards, Ambani has indicated that he will pick up the unsubscribed part of the issue. Reputed for his business know-how, the Business Standard expects Ambani’s influence on the company to cause company stocks to spike over the coming days.
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