The Indian Hotels Company (IHCL) has acquired 201,659 equity shares of ELEL Hotels and Investment Limited, its wholly-owned subsidiary, through a rights issue. The acquisition involved a cash premium of ₹4,990 per share, totaling ₹1,00,82,95,000. This investment reinforces IHCL’s commitment to its subsidiary and its ongoing projects, including the development of Taj Bandstand.
Increased Investment in Subsidiary
The Indian Hotels Company (IHCL) has increased its stake in ELEL Hotels and Investment Limited (ELEL), its wholly-owned subsidiary, through a rights issue, acquiring 201,659 equity shares. Each share has a face value of ₹10 and was issued at a price of ₹5,000. The transaction was completed on September 23, 2025.
Financial Details of the Acquisition
The total investment amounted to ₹1,00,82,95,000, which includes a premium of ₹4,990 per equity share. This infusion of capital aims to support ELEL’s ongoing and future business plans.
ELEL’s Operations and Future Plans
ELEL Hotels holds the leasehold rights for the land at Bandstand, Bandra, where the Taj Bandstand project is proposed to be developed. ELEL’s turnover for FY 2024-2025 was ₹0.0974 crores. Previous years turnover include: FY 2023-2024 with ₹0.1769 crores and FY 2022-2023 with ₹0.1657 crores.
Source: BSE
