SBI Mutual Fund has sold 22,98,035 shares constituting 8.4381% of paid up share capital of Royal Orchid Hotels. It was the only shareholder other than promoter, who was holding more than 1 percent stake in the company. The promoter and promoter group held 71.02% stake in the hotel company, as of September 2015.
Royal Orchid Hotels is India’s fastest growing hotel chain. It has 29 hotels in its portfolio.