Mumbai, Dec 31(.) Tata Group-owned Indian Hotels Company Limited (IHCL), which runs the Taj chain of hotels, has informed the stock exchange in a regulatory filing that it has sold off its entire 25.52 per cent stake in Taj GVK Hotels & Resorts Ltd to its executive director and promoter-shareholder Shalini Bhupal for Rs 592 crore.
IHCL stated in its filing that it sold its 25.52% stake, which equals 1.6 crore shares, to Shalini Bhupal for Rs 370 per share, officially ending its ownership relationship with Taj GVK Hotels & Resorts.
Following the transaction, a termination agreement was executed between Shalini Bhupal, G Indira Krishna Reddy, Blue Moon Trust, Moonshot Trust, Starlight Trust, IHCL, and IHCL.
Consequently, the amended shareholders’ agreement dated November 4, 2011, and the name and trademark license agreement dated November 22, 2007, between the company and IHCL, stand terminated, with all rights and obligations under both agreements cancelled and annulled.
Accordingly, IHCL’s nominee directors have stepped down from the board of Taj GVK Hotels & Resorts Ltd, effective December 30, 2025. Taj GVK Hotels & Resorts Ltd will now take necessary steps to change its corporate name by dropping the name ‘Taj’ from its corporate name in accordance with the termination agreement and adopt a new identity.
IHCL clarified that it will continue operating the existing hotels under the current hotel operating agreements already in place.
Following the stake sale, IHCL, Shalini Bhupal, members of the GVK promoter family and the company signed a termination agreement. Under this agreement, two key arrangements have been cancelled, the shareholders’ agreement signed in 2011 and the name and trademark license agreement signed in 2007.
Earlier in December 2025, Tata Group-owned IHCL had announced that it would convert its joint venture with the GVK-Bhupal family into a long-term management model.
The GVK-Bhupal family, which holds a 74.99% stake, will continue as the promoter of the company. IHCL said the decision supports its capital-light growth strategy, under which it will continue to manage the company’s six existing hotels and an upcoming property in Bengaluru, even after stepping away as a shareholder.
The move marks a strategic shift for the Tata Group-owned IHCL, allowing it to focus on hotel management, even as it reduces direct equity investments. . VK .