24 Sep 2025 | 5 Mins Read
IHCL buys ₹100.83 crore stake in ELEL Hotels via rights issue
Flipitmoney
IHCL acquired 2,01,659 ELEL Hotels shares worth ₹100.83 crore through a ₹1,003 crore rights issue, subscribing to shares at ₹5,000 each with a ₹4,990 premium. The allotment was on September 23, 2025, and ELEL Hotels holds leasehold rights for the Taj Bandstand development site. This transaction doesn't fall under related-party norms, maintaining IHCL's full ownership.