The Indian Hotels Company Limited has informed the Exchange about Sale or disposal
INDHOTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indian Hotels Company (IHCL) announced that its wholly-owned subsidiary Roots Corporation has sold 100% of its step-down subsidiary Leanluxe Hospitality Private Limited to Tata Sons Private Limited (the promoter of IHCL) for a nominal consideration of INR 1 lakh, effective June 30, 2025. Leanluxe Hospitality was incorporated only on May 10, 2025 (barely seven weeks before the sale) and had no revenue or net worth as of March 31, 2025. The transaction qualifies as a related party transaction since Tata Sons is IHCL's promoter, but the company states it was carried out at arm's length basis using an independent fair valuation. Consequent to the sale, Leanluxe has ceased to be a subsidiary of Roots Corporation and a step-down subsidiary of IHCL.
This is a minor housekeeping/corporate restructuring transaction with negligible financial impact given the nominal sale value and the fact that Leanluxe was a newly incorporated entity with no operations or revenue. Shareholders are unlikely to see any material effect on the stock or business fundamentals.