Indian Hotels Company (IHCL) has received an approval to raise funds by way of issuance of rated, unsecured, listed, redeemable, non-convertible debentures of face value of Rs 10,00,000 aggregating to Rs 150 crore by way of private placement, to Axis Bank (NCDs). The NCDs are proposed to be listed on the wholesale debt market segment of National Stock Exchange of India and the tenor of the instrument is 3 years from the deemed date of allotment. The Committee for long term Borrowings of the company on April 17, 2020 has considered and approved the same.
Indian Hotels Company 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.
