Indian Hotels Company Ltd (IHCL), the Tata Group’s hospitality subsidiary and the parent of Taj Hotels, has acquired an additional stake in its wholly owned subsidiary, ELEL Hotels and Investments Ltd, for INR 165.02 crore. The company purchased 330,043 equity shares at an issue price of INR 5,000 per share through a rights issue, according to a filing with the Bombay Stock Exchange (BSE).
IHCL clarified that the transaction involves acquisition of shares in an already wholly owned subsidiary. ELEL Hotels holds leasehold rights for a prime land parcel at Bandstand in Mumbai, where the proposed Taj Bandstand hotel is expected to come up.
The development follows IHCL’s annual general meeting, during which Chairman N Chandrasekaran outlined the company’s growth ambitions. In FY25, IHCL signed 74 new hotels and opened 26, bringing its portfolio to 380 properties. The company aims to double its consolidated revenue to INR 15,000 crore and expand its network to over 700 hotels by 2030.
IHCL has also earmarked INR 1,200 crore in capital expenditure for FY26 and plans to invest nearly USD 1 billion over the next five years. The company’s stock closed at INR 751.25 on the BSE on Wednesday.
