IHCL Exits Taj GVK Joint Venture Completely

In a significant development in the hospitality sector, Tata Group–owned Indian Hotels Company Limited (IHCL) has completely exited its joint venture with Taj GVK Hotels and Resorts. IHCL has sold its 25.52 percent stake in Taj GVK to promoter group member Shalini Bhupal for ₹592 crore.

Under the transaction, 16 million shares were sold at ₹370 per share, increasing the GVK–Bhupal family’s stake to 74.99 percent and granting them full ownership of the company. All IHCL-nominated directors have stepped down from the board, and earlier shareholder and trademark-related agreements have been terminated.

Following the change in ownership, the company has initiated the process of removing the word ‘Taj’ from its corporate name and adopting a new name. However, existing hotels such as Taj Krishna and Taj Deccan will continue operations under their current brand names for now. Going forward, IHCL will serve only as a management partner. In separate stock market transactions, promoter group trusts sold shares worth ₹105 crore, with Nippon India Mutual Fund emerging as a major buyer. The GVK Group is also planning to expand its capacity with a new hotel project coming up in Yelahanka, Bengaluru.