Om Metals Infraprojects has divested its stake in Om Hotel Tower, its hotel division, for ₹36.30 crore. After paying stamp duty, the company will realise ₹35 crore and the deal is expected to be completed by June 2019. Om Hotel Tower has contributed ₹5.24 crore to turnover (i.e. 1.76 per cent of the company’s total turnover) and ₹26.48 crore to net worth, which is 4.733 per cent of total net worth. The related-party transaction was done at arm’s length, it said.
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