Tata Sons hikes stake in Indian Hotels by 1.78 points to 29.79%
New Delhi: Tata group hospitality firm Indian Hotels Co. Ltd on Wednesday said Tata Sons Ltd has raised its holding in the company by 1.78 percentage points to 29.79% pursuant to a rights issue.
Tata Sons earlier had 28.01% stake in the hospitality major which runs Taj hotels. “The mode of acquisition is allotment of shares pursuant to a rights issue,” Indian Hotels Company said in a regulatory filing.
Aggregate holding of other entities in the category promoter or members of promoter group namely Sir Dorabji Tata Trust, Lady Tata Memorial Trust and Sir Ratan Tata Trust, has been reduced from 7.98% to 6.64%, it added. These entities were restrained from subscribing to the rights issue on account of statutory restrictions, the filing said.
On Wednesday, shares of Indian Hotels Co. Ltd declined 1.56% to close at Rs110.45 apiece on the BSE on a day the benchmark Sensex shed 0.46% to end the day at 33.218.81 points.
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