Indian Hotels to sell 25.5% stake in Taj GVK Hotels to promoter group member
This story was originally published at 21:22 IST on 19 December 2025
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AHMEDABAD – The board of The Indian Hotels Co. Ltd. Friday approved the execution of a sale and purchase agreement to divest its entire 25.52% stake in Taj GVK Hotels & Resorts Ltd. to a member of the latter's promoter group for INR 370 a share, the company said in a regulatory filing.
A committee of the board approved the execution of the sale and purchase agreement to divest 16 million equity shares of face value INR 2 in Taj GVK, Indian Hotels said in its filing. The shares will be acquired by Shalini Bhupal, a member of the promoter group of Taj GVK. At INR 370 per share, a simple calculation shows the value of the transaction would be about INR 5.92 billion.
Despite the stake sale, Indian Hotels will continue to operate the existing hotels in the Taj GVK portfolio in line with their hotel-operating agreements. These agreements, too, were executed Friday.
The parties have also agreed to terminate the restated and amended shareholders' agreement of Nov. 4, 2011, and the name and trademark licence agreement of Nov. 22, 2007, upon completion of the transaction. The necessary agreements for termination will be executed on the date of consummation, the company said.
For the September quarter, Indian Hotels had reported a consolidated net profit of INR 2.85 billion on a revenue of INR 20.41 billion. Friday, shares of the company ended over 1% higher at INR 731.20 on the National Stock Exchange. Shares of Taj GVK Hotels & Resorts closed 2% higher at INR 379.90. End
Reported by Sunil Raghu
Edited by Rajeev Pai
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