IHCL Invests Rs 1 Billion in Subsidiary for Taj Bandstand

29 Sep 2025 CW Team

The Indian Hotels Company (IHCL), part of the Tata Group, announced on Tuesday that it has invested over Rs 1 billion in its wholly owned subsidiary, ELEL Hotels and Investment, through a rights issue.

In a stock exchange filing, IHCL stated that it acquired 201,659 equity shares of Rs 10 each at an issue price of Rs 5,000 per share, paying a premium of Rs 4,990 per equity share in cash.

ELEL Hotels and Investment holds the leasehold rights for the Bandstand, Bandra land parcel, where IHCL plans to add another Taj-branded hotel in Mumbai, Taj Bandstand. In February, IHCL announced a total investment of Rs 25 billion in this property. The project will feature 330 keys, 85 apartments, a convention centre, and a commercial complex, and construction began earlier this year. Once completed in the next four years, it will be located next to the Taj Lands End.

Ankur Dalwani, Executive Vice-President and CFO of IHCL, said during the April–June earnings call that the company is not seeking an equity partner for Taj Bandstand.

“Issue of 201,659 fully paid-up equity shares of Rs 10 each was allotted on 23 September 2025 through a rights issue,” the filing stated. In July, IHCL had acquired 330,043 equity shares in ELEL Hotels and Investment via a rights issue for Rs 1.65 billion.

ELEL Hotels and Investment operates solely in the Indian market, which recorded a turnover of Rs 974,000 in FY24–25. IHCL’s annual general meeting this year allocated Rs 12 billion for capital expenditure, with no immediate fundraising plans. Over the next five years, capital expenditure is projected to reach nearly $1 billion.

As of June 2025, IHCL had 249 operational hotels, with 30 more expected to open in FY26 from its organic pipeline.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..