IHCL exits Taj GVK Hotels; Shalini Bhupal acquires 25.52% stake for ₹592 crore

Taj GVK Hotels & Resorts Ltd on Tuesday (December 30) informed that Shalini Bhupal, a promoter shareholder, has acquired 1.60 crore equity shares of par value ₹2 each, representing 25.52% of the company’s

shareholding, from The Indian Hotels Company Ltd (IHCL) at a price of ₹370 per share, for a total consideration of ₹592 crore via inter-se transfer.

Following the transaction, a termination agreement was executed between G Indira Krishna Reddy, Shalini Bhupal, Blue Moon Trust, Moonshot Trust, Starlight Trust, IHCL, and the company. Consequently, the restated and amended shareholders’ agreement dated November 4, 2011, and the name and trademark licence agreement dated November 22, 2007, between the company and IHCL, stand terminated, with all rights and obligations under both agreements cancelled and annulled.

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As a result, IHCL’s nominee directors have stepped down from the board of the company with effect from December 30, 2025. The company will now take necessary steps to change its corporate name by removing ‘Taj’ in accordance with the termination agreement.

It was clarified that IHCL will continue to operate the existing hotel portfolio under the respective hotel operating agreements. The company is permitted to use the ‘Taj’ or ‘Vivanta’ brand as per these agreements. The transaction is not considered a related party transaction, and the sale and purchase occurred between promoter group entities.

Shares of Taj GVK Hotels and Resorts Ltd ended at ₹428, down by ₹4.60, or 1.06%, on the BSE today, December 30.

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