September 24, 2025

Hold on tight! Indian Hotels Company Limited (IHCL), the big boss in India’s hotel world, has just dropped a whopping Rs 100 crore buying spree on its own subsidiary, ELEL Hotels and Investment Limited. How? By snapping up over 2,01,659 shares through a rights issue, IHCL added more muscle to ELEL, the owner of leasehold rights for prime Bandstand Bandra land. That's the super-cool spot where the shiny new Taj Bandstand is planned to rise! Remember, back in February, Tata Group's IHCL wowed everyone with the announcement of the Rs 2,500-crore Taj Bandstand project – a luxury marvel featuring 330 rooms and 85 swanky apartments spread over two acres of prime territory. Here’s the juicy detail from IHCL's official filing: “The Indian Hotels Company Limited has through a rights issue acquired 2,01,659 equity shares of the face value of Rs 10 at issue price of Rs 5,000 per share, for cash at premium of Rs 4,990 per equity share aggregating to Rs 1,00,82,95,000 of ELEL Hotels and Investment Limited, its wholly-owned subsidiary.” Simply put, IHCL shelled out over Rs 100 crore to boost ELEL’s pockets. This isn’t the first blockbuster buy-in! Earlier in July, IHCL had already plowed over Rs 165 crore to grab more than 3.3 lakh shares in ELEL through another rights issue. So, IHCL’s love for ELEL is no secret – it’s pushing the pedal hard as the Taj Bandstand project marches ahead. With these hefty investments, IHCL and ELEL Hotels are setting the stage for a dazzling future. The Taj Bandstand will be a sparkling jewel in Mumbai’s hospitality crown, and IHCL’s big cash moves ensure the project won't lose steam. Stay tuned for more updates on this luxury wonder coming to life in Bandra!

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Tags: Ihcl, Elel hotels, Rights issue, Taj bandstand, Investment, Tata group,