EIH Ltd Company History

The Company was Incorporated on 26th May, at Calcutta. The Company

undertook Business of Hotel, restaurant, cafe, tavern, beer house,

refreshment room, lodging and house keeping. The Company was promoted

by Rai Bahadur M.S. Oberoi and Oberoi Hotels (India) Ltd., in May.

The Company was built in collaboration with Intercontinental Hotels

Corporation, a wholly owned subsidiary of Pan American World Airways,

and was linked with Inter continental's vast and efficient sales net

work and was listed on its computerised reservation system known as

`PANAMAC'. It is also linked with American Express Space Bank, a world

wide computerised hotel booking system.

The Company took on lease the Maharaja's Palace in Srinagar and

converted it into the Oberoi Palace Hotel. This hotel provided the

main income for the Company till the end of 1964-65.

The Company entered into a collaboration agreement with Sheraton

International Inc., Boston, U.S.A., a wholly owned subsidiary of

International Telephones and Telegraphs. The collaboration agreement

was approved by Government in 1967-68.

By a scheme of merger approved by the Calcutta High Court, the

Associated Hotels of India Ltd., and Hotels Pvt. Ltd., were amalgamated

with the Company. By virtue of the amalgamation, the Company acquired

Oberoi Grand Hotel, Calcutta, Oberoi Mount Everst, Darjeeling, Oberoi

Maiden's, Delhi, Oberoi Cecil, Simla and Oberoi Palm Beach, Gopalpur

and a suitable plot of land at Chennai.

Mercury Travels (India) Pvt. Ltd., with an issued and paid-up capital

of Rs 35 lakhs is a wholly owned subsidiary of the Company.

Upon the expiry of the collaboration agreement with Sheraton

International Inc., U.S.A., on 5th March, 1979, the name of this hotel

was changed from Oberoi Sheraton Hotel to Oberoi Towers Hotel.

The Company entered into an agreement with the Zanzibar Government

(East Africa) for providing technical and hotel operating services. An

agreement was concluded with the National Corporation of Zambia for

rendering operation services for a luxury hotel in Ndola. The Company

also finalised an agreement with Adayar Gate Hotels Ltd., Chennai for

rendering technical assistance and operating services for their five

star hotel under construction in Chennai.

Partly paid equity shares fully called up (Rs 2 per share during

1977-78 and the balance Rs 6 per share during 1978-79).

13,37,745 bonus equity shares issued in prop. 1:5. 28,55,500 No. of

Equity shares then issued (prem. Rs 6 per share). 16,05,500 shares

offered as rights to resident Indian equity shareholders in prop. 1:5

(only 14,78,822 share taken up) and 13,76,678 shares (including

1,26,678 rights shares not taken up) offered to the public in Dec.

1979. 75,000-11% `B' Pref. shares issued to financial institutions.

`B' pref. shares redeemable during 27.3.1992/95.

15,00,000 No. of Equity shares issued at a premium of Rs 4 per share

on conversion of debentures on 30.10.1984. 49,53,131 bonus shares

issued in prop. 2:5 on 25.1.1985.

The Company issued 15% secured redeemable non-convertible debentures

for a total value of Rs 6 crores. During April 1986, another issue of

non-convertible debentures was made for a total value of Rs 15 crores.

A 10 year contract was given to the Company by the International

Airports Authority to operate all the snack bars and restaurants at the

domestic and International Terminals in Mumbai.

During Jan.-Feb., the Company offered 25,00,000 - 13.5% secured

redeemable convertible debentures of Rs 100 each to its equity

shareholders on rights basis in the proportion 2 debentures for every 7

equity shares held (all were taken up). Additional 6,25,000 debentures

were allotted to shareholders to retain over subscription.

1,25,000 - 13.5% convertible debentures were offered to the resident

Indian employees of the Company and other associate companies (only

8,780 debentures were taken up). The unsubscribed portion was allowed

to lapse.

A portion of Rs 50 of each debenture was compulsorily converted into

2 equity shares of Rs 10 each at a premium of Rs 15 per share in

October. The non-convertible portion of Rs 50 of each debenture was to

be redeemed at par at the expiry of 7th year from the date of allotment

of the debentures.

The Company entered into a joint venture agreement with Accor of

France, which owns the Novotel Chain, for the construction and

development of medium priced hotels in India. Necessary Government

approvals were obtained and the joint venture company was registered as

"Indus Hotels Corporation Ltd." (IHCL).

The Company issued 15,00,000 - 14% non-convertible debentures of Rs

100 each aggregating Rs 15 crores to meet a part of the expenditure for

renovation, refurnishing and capacity improvement. Additional 2,25,000

debentures were allotted to retain over subscription. These debentures

were to be redeemed at a premium of 5% at the end of 7th year from the

date of allotment of debentures.

The Company offered 15,00,000 - 14% secured redeemable

non-convertible debentures of Rs 100 each on Rights basis in the

11% Pref. `C' shares redeemed. 47,20,704 bonus equity shares issued

in prop. 1:5.

The Company offered 22,71,863 partly convertible debentures of Rs 150

each on Rights basis in the proportion 1 deb.: 10 No. of equity shares

held (all were taken up). Additional 3,39,790 debentures were allotted

to retain over subscription. Another 3,40,780 partly convertible

debentures were issued to the promoters and Company's associates on

preferential allotment basis (all were taken up).

Rs 50 of the face value of each debenture was to be compulsorily

converted into 1 equity share of Rs 10 each at a premium of Rs 40 per

share on the expiry of 6 months from the date of allotment of

debentures. Accordingly 16,11,833 shares were allotted on 19.12.93.

Remaining Rs 100 of the face value of each debenture was to be redeemed

in 3 annual instalments of Rs 33, Rs 33 and Rs 34 commencing from the

6th year from the date of allotment of debentures.

11,35,932 - 15% non-Convertible debentures were issued on Rights

basis in the proportion of 1 deb.: 20 No. of equity shares held (all

were taken up). Each debentures is accompanied by a detachable

tradeable warrant, entitling the holder to apply for one equity share

of Rs 10 each at a premium of Rs 65 per share exerciseable during the

period after the expiry of 36 months but before the expiry of 60 months

from the date of allotment of non-Convertible debentures.

The Company formed a joint venture with Alfred Mc Alpine Construction

Major Projects Ltd., UK to provide construction and project management

expertise for new projects. The Company entered into a joint venture

arrangement to build an international golf course, a deluxe hotel and a

health resort in Bangalore.

As per the terms of issue, 28,67,383 No. of Equity Shares were issued

on 17th October, at a price of Rs 438 per equity share. As a

consequence to this issue, the equity capital increased by Rs 28,674

million and the share premium account increased by Rs 1227.240 million.

28,67,428 No. of Equity shares issued as a consequence of GDR.

The Company proposed to set up a new joint venture company with

Eurest International, a subsidiary of Compass Group Plc. on a 50:50

basis. The company proposed to transfer the existing airline catering

and airport operations to the new company.

The Company proposed to issue bonus equity share in the ratio of 1:2

to existing shareholders.

11,25,114 No. of Equity shares of Rs 10 each (premium Rs 65 per

share) allotted against detachable warrants which were issued alongwith

16% Rights non-Convertible debentures of Rs 100 each issued in 1993.

Another, 1,74,64,299 bonus shares issued in propn. 1:2.

The name of the Company was changed from the East India Hotels Ltd.

to "EIH Ltd." with effect from 1st November.

EIH Ltd, is setting up a joint venture with Goel International Hotels

and Resorts Ltd for a new hotel in Agra.

EIH set up a joint venture with Hong Kong-based CCA International for

developing, marketing and managing private clubs and resorts in the

country.

The entire expansion plan will be through EIH, its 100 per cent

subsidiary, EIH international Ltd, and joint ventures with various

partners.

Mercury Travels Ltd, a wholly-owned subsidiary of EIH Ltd,

established a subsidiary in Germany called Vision Travels GmbH during

the year.

Mashobra Resort Ltd, a joint venture with the government of Himachal

Pradesh, and Rajgarh Palace Hotels and Resorts Ltd, a joint venture

with the government of Madhya Pradesh, have become subsidiaries of the

company.

EIH Ltd owns and manages hotels under the Oberoi and Trident brand.

The FAAA rating assigned by the Credit Rating Information Services of

India (Crisil) to the fixed deposit programme has been reaffirmed.

EIH Ltd has unveiled plans of opening four new hotels in the new

millennium.

The Company has established direct V-SAT connectivity with National

Securities Depository Limited and Central Depository Services (India)

Limited.

The Company has recommended introduction of an employee stock option

programme.

Hotel major EIH Ltd has entered into an agreement with Sukhvinder

Singh Badal, son of The Punjab Chief Minister Prakash Singh Badal, for

the running of a luxury hotel to be set up at Gurgaon, near New Delhi.

Oberoi Kerala Hotels and Resorts Limited, a Joint Venture with

Government of Kerala has become a subsidiary of the company.

EIH Ltd stated that ITC's investment companies have picked up

6,05,704 shares, indicating that these companies have continued to buy

and sell in EIH stock despite the uncomfortable revelation of such

buying some months ago.

EIH, which owns and operates the Oberoi hotels, has reduced its staff

strength by 465 across its properties in Mumbai, Delhi and Calcutta.

EIH, A member of the Oberoi group, on October 29 reported 79.13 per

cent decline in net profit at Rs 1.73 crore during the second quarter

of current financial year.

P R S Oberoi reappointed as Managing Director on the Board of EIH.

EIH Ltd has informed that the following changes in the management structure of the Company:

Mr Rai Bahadur M.S Oberoi, Mr B K Nehru, Mr P Majumdar expired and ceased to be Directors. Mr S K Saha ceased to be Director by resignation. Mr S. M. Dahanukar did not seek reappointment on his retirement of Directors by rotation.The list of Directors as on date:

Mr P R S Oberoi,Mr S S Mukherji,Field Marshal Sam Manekshaw,Mr Vikram Oberoi,Mr Arjun Oberoi and Mr S K Dasgupta.

P Majumdar ceases to be a Director of EIH Associated Hotels.

EIH Ltd has informed following changes in management structure.Appointment of Additional Directors:Mr Nusli N Wadia, Mr Rajan Raheja, Mr Christopher Reeves.Mr P R S Oberoi who was the vice Chairman and Managing Director of the Company has been appointed as the Chairman in the Wholetime employment of the Company w e f June 27, 2002.Mr S S Mukherji who was the Deputy Managing Director of the Company has been appointed as the Managing Director of the Company w e f June 27, 2002.

EIH Ltd relocates Investors Service Division, which has shifted from Kishore Bhavan, 17 R N

Mukherjee Road, Kolkota-700001 to the company's registered office at 4 Mangoe lane,

6th floor, Kolkota. -700001.

EIH Ltd has floated its voluntary retirement scheme to its employees at Oberoi Grand Hotel,

Kolkota.

EIH in alliance with Indian Railways mulls to launch luxury trains.

Hilton International Co & EIH Ltd announce a strategic alliance for co-branding hotels in India under the Trident Hilton brand

Gujarat Gas signs an agreement with Garden Silk Mills.

EIH Ltd and Hilton International on April 2 launched a strategic alliance that saw seven Trident hotels being renamed as Trident Hilton. In addition, the Oberoi Towers in Mumbai will now be called the Hilton Towers.

EIH expects topline growth of 40%.

Oberois firm on hiking stake in EIH.

EIH declares 12 new projects in India, abroad.

EIH Board recommends stock split & bonus issue.

EIH has given the Bonus in the Ratio of 1:2

Company has splits its Face value of Shares from Rs 10 to Rs 2

EIH - Hon'ble High Courts, Madras & Calcutta sanctions Scheme.

EIH terminates Hilton Alliance from Trident Hotels.

EIH net profit rises 10.23% in the March 2008 quarter.

EIH Holdings British Virgin will become WOS of EIH.

EIH - EIH Acquires Foreign Hotel Joint Venture.

EIH mulls Rs 150 cr investments on new projects.

EIH - Agreement with Media Company(Pressman Advertising Limited) for Rights Issue.

EIH Ltd Issues Rights in the Ratio of 5:11

EIH recommended payment of Dividend of Rs. 1.10 per share of Rs. 2 face value for Shareholders' declaration at the ensuing Annual General Meeting.

EIH have recommended payment of Dividend of Rs. 0.90 per share of Rs. 2 face value.

EIH have recommended payment of Dividend of Rs. 1.10 per share of Rs. 2 face value.

The company issued rights shares of Rs. 2 in the ratio of 8:85 at a premium of Rs. 63 per share.

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