The Indian Hotels Company Limited has informed the Exchange about Acquisition
INDHOTEL · price
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Awaiting price reaction for this filing.
Indian Hotels Company (IHCL) has invested approximately ₹100.83 crores in its wholly-owned subsidiary ELEL Hotels and Investment Limited by subscribing to a rights issue of 2,01,659 equity shares at ₹5,000 per share (face value ₹10, premium ₹4,990). Post-allotment on September 23, 2025, IHCL continues to hold 100% of ELEL, which holds the leasehold rights for the Bandstand Bandra land parcel where the proposed 'Taj Bandstand' hotel will be developed. ELEL operates only in India in the hospitality sector and had a negligible turnover of ₹0.0974 crores in FY25. This is a cash investment, and since ELEL is an existing wholly-owned subsidiary, no related party issues or promoter interests are involved.
This is a capital infusion into an existing wholly-owned subsidiary to fund the Taj Bandstand project, so it is unlikely to have a material impact on IHCL's consolidated financials or share price. Shareholders should view it as routine project-level funding for a new hotel development in a premium Mumbai location.