Indian Hotels Company has informed that Samsara Properties , Company’s indirect overseas wholly owned subsidiary, has sold, through market transactions, 1,270,715 Class ‘A’ Common Shares of the face value of $ 0.01 each of Belmond Limited, representing 1.24% of the total outstanding Class ‘A’ Common Shares for a net consideration of $ 11.96 million. The sale proceeds are being utilized for retirement of debt. Post the above sale, Samsara Properties continues to hold 5.73% of the Class ‘A’ Common Shares of Belmond Limited.
The above information is a part of company’s filings submitted to BSE.
