Indian Hotels Company’s overseas arm Samsara Properties has sold over 12.7 lakh shares of Belmond for a consideration of $11.96 million (over Rs 82 crore) to pare debt. The sale proceeds are being utilised for retirement of debt.
Belmond has a collection of 46 hotel, river cruise, safari and luxury rail businesses in 23 countries.
Indian Hotels company (IHCL) and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia's largest and finest hotel company. It operates in the luxury, premium, mid-market and value segments of the market.
| Company Name | CMP |
|---|---|
| Indian Hotel | 659.55 |
| ITC Hotels | 162.45 |
| EIH | 321.55 |
| Chalet Hotels | 778.90 |
| Mahindra Holi.&Resor | 272.70 |
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