SEL Manufacturing Company Limited has acquired 99.88% stake in Omega Hotels Ltd and 51.09% stake in SEL Aviation.
Pursuant to this acquisition, both Omega Hotels and SEL Aviation has become the subsidiary company of SEL Manufacturing Company.
Omega Hotels Ltd. is implementing a Hotel Project at Agra in the State of Uttar Pradesh and SEL Aviation Pvt. Ltd. is in the business of Aviation Services and holds a Non-Scheduled Operator's Permit under the Director General of Civil Aviation.
Financial consultant IFCI is planning to raise its second tranche of the proposed R2000 Cr fund raise by issuing secured, redeemable NCD. The tranche II would carry a base size of R250 Cr with an option to retain over subscription upto R790.813 Cr.