Tata Sons, the promoter of all key companies of the Tata Group has increased its stake by 4.78% in Indian Hotels Company. Tata Sons has acquired 4,80,00,000 shares in IHCL for a total sum of Rs 497.47 crore through preferential allotment on June 22 this year.
Accordingly, Tata Sons’ holding in IHCL has now increased to 24.36% from 19.58% earlier.
IHCL and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces. The Taj Hotels Resorts and Palaces currently has 93 hotels in 55 locations across India with an additional 16 international hotels in the Maldives, Malaysia, Australia, UK, USA, Bhutan, Sri Lanka, Africa and the Middle East.
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