The Indian Hotels Company (IHCL) has completed the sale of its 25.52% shareholding in Taj GVK Hotels & Resorts to Ms. Shalini Bhupal for ₹370 per share. Consequent to this sale, the related shareholder and license agreements have been terminated. IHCL’s nominee directors have stepped down, and Taj GVK will discontinue the ‘Taj’ name. IHCL will continue to operate the existing Taj GVK portfolio under existing hotel operating agreements.
Sale of Stake in Taj GVK Hotels & Resorts
The Indian Hotels Company (IHCL) has successfully sold its entire shareholding, representing 25.52%, in Taj GVK Hotels & Resorts Limited to Ms. Shalini Bhupal. The transaction involved 1,60,00,400 equity shares, each with a par value of ₹2. The sale price was fixed at ₹370 per share.
Termination of Agreements
Following the completion of the share sale, IHCL, along with other parties, executed a termination agreement effective December 30, 2025. This agreement terminates the Restated and Amended Shareholders’ Agreement dated November 4, 2011, as well as the Name and Trademark License Agreement dated November 22, 2007.
Changes in Board and Corporate Name
As a result of the termination agreement, IHCL’s nominee directors on the Board of Taj GVK Hotels & Resorts have stepped down, effective from the close of business hours on December 30, 2025. Furthermore, Taj GVK Hotels & Resorts will initiate steps to discontinue the use of the ‘Taj’ name from its corporate identity, changing its corporate name accordingly.
Continued Operational Agreements
Despite the sale of its stake and the termination of related agreements, The Indian Hotels Company will continue to operate Taj GVK Hotels & Resorts existing portfolio of hotels as per the existing hotel operating agreements executed between the two companies. The fee received at IHCL Consolidated level in FY 24-25 for management of portfolio of hotels under Target Company was ₹25.32 Crores. IHCL’s share of profit from this JV was ₹29.09 crores.
Source: BSE
