The Indian Hotels Company Limited (IHCL) has announced the execution of a Sale and Purchase Agreement (SPA) for the disinvestment of 1,60,00,400 equity shares of Taj GVK Hotels & Resorts Limited (TajGVK). These shares represent 25.52% of TajGVK's shareholding. The transaction involves the sale of these shares to Mrs. Shalini Bhupal, a member of the promoter and promoter group of TajGVK, at a price of ₹370 per share. The total consideration for this sale amounts to ₹592 crore (1,60,00,400 shares * ₹370 per share). IHCL will continue to manage the hotels under the TajGVK portfolio as per the existing Hotel Operating Agreements, which have also been executed today. Upon completion of the transaction, the Restated and Amended Shareholders’ Agreement dated November 4, 2011, and the Name and Trademark License Agreement dated November 22, 2007, between IHCL and TajGVK will be terminated. The contribution of TajGVK to IHCL's consolidated financials is NIL for revenue and net worth, as it is accounted for as a Joint Venture. However, IHCL's share of profit from this JV was ₹29.09 crore in FY 2024-25. The management fee received at the IHCL consolidated level for managing TajGVK hotels in FY 2024-25 was ₹25.32 crore, which will continue to accrue to IHCL.