IHCL Acquires 100% Stake in Wholly-Owned Subsidiary ELEL Hotels and Investment Limited for INR 165 Crores

The Indian Hotels Company Limited (IHCL) has acquired 3,30,043 equity shares of ELEL Hotels and Investment Limited, a Wholly-Owned Subsidiary, for a cash consideration of INR 165,02,15,000. The acquisition was done through a rights issue at a premium of INR 4,990 per equity share. ELEL holds the leasehold rights for the land parcel at Bandstand, Bandra, under which Taj Bandstand is proposed to be developed. The acquisition was completed on July 16, 2025.