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Ms Nita Ambani has been appointed as an additional director on the board of EIH Ltd, which runs the Oberoi and Trident chain of hotels. The move comes a little over a year after Mr Mukesh Ambani's Reliance Industries Ltd had bought over 14 per cent stake in EIH.
RIL holds 14.80 per cent stake in EIH, and its entry into the hospitality company was viewed in industry circles as a move to balance the stake of tobacco-to-hospitality major ITC, which holds 14.98 per cent in EIH.
After attending her first EIH board-meeting, Ms Ambani told media persons that the involvement was a long-term financial investment.
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