IHCL Sells Over 25% Stake in Taj GVK Hotels to Promoter Shalini Bhupal

• Indian Hotels Company Limited (IHCL) approved the sale of its 25.52% stake in Taj GVK Hotels.
• The divestment involves 1,60,00,400 equity shares, each with a face value of 2 rupees.
• Shares will be purchased at 370 rupees per share by Mrs. Shalini Bhupal, a promoter of Taj GVK.
• Despite the sale, existing Taj GVK hotel operations will continue as per relevant agreements.
• IHCL shares closed up 1.19% on Friday but have declined 16.98% over the past year.

Why It Matters: IHCL divests significant stake in Taj GVK Hotels to promoter, operations remain unchanged.