Indian Hotels Company Ltd (IHCL) has sold its entire 25.52 per cent stake in Taj GVK Hotels & Resorts Ltd to the promoter GVK-Bhupal family for Rs 5.92 billion, marking the end of the joint venture between the two parties.

The transaction involved the sale of IHCL’s full holding of 1.6 million shares at a price of Rs 370 per share, with Shalini Bhupal, daughter of GVK Reddy, acquiring the entire stake.

While the equity partnership has concluded, IHCL will continue to manage six existing hotels and a planned property in Bengaluru under a long-term management agreement, ensuring continuity of operations at these assets.

IHCL has previously stated that its exit from Taj GVK aligns with its asset-light growth strategy. The move is expected to raise the company’s capital-light inventory to 67 per cent and unlock capital for deployment into higher-margin growth opportunities.

Following the completion of the share sale, IHCL’s nominee directors have resigned from the board of Taj GVK. The company has also announced that it will change its corporate name and discontinue the use of the ‘Taj’ brand.