Taj GVK Hotels & Resorts Ltd: The Indian Hotels Company Limited to Disinvest 25.52% Stake to Promoter Shalini Bhupal

The Board of Directors of Taj GVK Hotels & Resorts Ltd has approved the execution of a Sale and Purchase Agreement for the disinvestment of 1,60,00,400 equity shares, representing 25.52% of the shareholding in the company. The shares are proposed to be acquired by Ms. Shalini Bhupal, a member of the promoter and promoter group, at a price of INR 370 per share. The Indian Hotels Company Limited would continue to operate the existing hotels under the TajGVK portfolio. The Restated and Amended Shareholders’ Agreement and the Name and Trademark License Agreement would be terminated upon consummation of the Transaction.