Mumbai, Jan. 1 -- Tata Group-owned Indian Hotels Company Limited (IHCL), which runs the Taj chain of hotels, has informed the stock exchange in a regulatory filing that it has sold off its entire 25.52 per cent stake in Taj GVK Hotels & Resorts Ltd to its executive director and promoter-shareholder Shalini Bhupal for Rs 592 crore.
IHCL stated in its filing that it sold its 25.52% stake, which equals 1.6 crore shares, to Shalini Bhupal for Rs 370 per share, officially ending its ownership relationship with Taj GVK Hotels & Resorts.
Following the transaction, a termination agreement was executed between Shalini Bhupal, G Indira Krishna Reddy, Blue Moon Trust, Moonshot Trust, Starlight Trust, IHCL, and IHCL.
Consequently, the amended shareh...