The Indian Hotels Company Limited (IHCL) has divested its entire 25.52% stake in Taj GVK Hotels & Resorts Limited to Ms. Shalini Bhupal for ₹370 per share. Following the sale, IHCL and GVK Promoters have terminated all joint venture agreements, though IHCL will continue managing Taj GVK hotels under separate operating contracts.
The Indian Hotels Company Limited (IHCL), part of the Tata Group, has announced the sale of its entire 1.6 crore shares in Taj GVK Hotels & Resorts Limited, representing 25.52% of the company’s equity, to Ms. Shalini Bhupal at ₹370 per share. The transaction, valued at approximately ₹592 crore, was completed on December 30, 2025.
Following the sale, IHCL, along with GVK Promoters, signed a Termination Agreement, effectively ending the Restated and Amended Shareholders’ Agreement (2011) and the Name and Trademark License Agreement (2007). Consequently, Taj GVK Hotels & Resorts will remove the ‘Taj’ brand from its corporate identity.
IHCL’s nominee directors have resigned from the board of the target company as part of the agreement. Despite the exit, IHCL will continue to operate and manage the existing Taj GVK hotel portfolio under independent hotel operating agreements, ensuring business continuity.
Key Highlights:
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IHCL’s 25.52% stake sold for ₹370 per share to Ms. Shalini Bhupal
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Company’s share of profit from the JV in FY25 stood at ₹29.09 crore
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All joint venture rights and brand license agreements terminated
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Target Company to drop ‘Taj’ from its name and undergo rebranding
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IHCL to continue managing its existing hotel assets under separate contracts
Sources: BSE filing, IHCL exchange disclosure dated December 30, 2025