Key Developments: Indian Hotels Company Ltd (IHTL.NS)

IHTL.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Indian Hotels Company Ltd's Samsara Properties Ltd sells The Blue Hotel, Sydney to Australia Hotels & Properties Ltd
Thursday, 10 Jul 2014 01:08am EDT 

Indian Hotels Company Ltd:Says that Samsara Properties Ltd, offshore wholly owned subsidiary of The Indian Hotels Company Ltd, has announces the execution of share sale deed for divestment of 100 pct. of shareholding in The Blue Hotel, in Sydney in favor of Australia Hotels & Properties Ltd.Says Australia Hotels & Properties belongs to Jhunjhnuwala family controlled Hind Hotels & Properties Group.  Full Article

Indian Hotels Company Ltd to issue debentures-Business Standard
Tuesday, 24 Jun 2014 09:54am EDT 

Indian Hotels Company Ltd:Will issue nine compulsorily convertible debenture (CCD) for every 40 equity shares to raise up to 10.00 Bln Indian Rupees-Business Standard.  Full Article

Sebi clears Indian Hotels Company Ltd's rights issue-Business Standard
Tuesday, 10 Jun 2014 07:44am EDT 

Indian Hotels Company Ltd:Sebi has given approval to Indian Hotels Company's proposal to raise up to 10.00 bln Indian Rupees from rights issue-Business Standard.The company plans to utilise the proceeds of the issue towards 'part funding of capital expenditure proposed to be incurred for construction of Vivanta by Taj, Guwahati' as well as to fund the renovation at some of existing hotels.Also for repayment or pre-payment of certain borrowings of the company and general corporate purposes.  Full Article

Indian Hotels Company Ltd does not recommend dividend
Friday, 30 May 2014 10:02am EDT 

Indian Hotels Company Ltd:Says it has not recommended any dividend for the financial year ended March 31, 2014.  Full Article

Indian Hotels Company Ltd seeks Sebi nod to raise via debentures-Business Standard
Thursday, 24 Apr 2014 04:31am EDT 

Indian Hotels Company Ltd:Has sought market regulator Sebi's approval to raise 10.00 bln Indian Rupees through issue of debentures on rights basis-Business Standard.  Full Article

Indian Hotels Company Ltd Abandons $1.2 Billion Bid For Orient-Express Hotels Ltd-Reuters
Friday, 8 Nov 2013 10:24am EST 

Reuters reported that Indian Hotels Company Ltd will not pursue its $1.2 billion bid to acquire Orient-Express Hotels Ltd, it said. The Company said the board had decided not to pursue the offer after taking into account all factors, including the current economic environment and other opportunities and priorities.  Full Article

Indian Hotels Company Ltd Recommends Dividend
Thursday, 30 May 2013 10:00am EDT 

Indian Hotels Company Ltd announced that the Board of Directors of the Company at its meeting held on May 30, 2013, inter alia, have recommended a dividend of INR0.8 per Ordinary Equity Share of INR1 each fully paid up of the Company (previous year INR1 per Ordinary Equity Share of INR1 each fully paid up). Accordingly : the dividend payable on One Equity Share of INR1 each fully paid up will amount to INR0.80 (Eighty paise Only); the dividend payable on 100 Equity Shares of INR1 each fully paid up will amount to INR80 (Rupees Eighty Only). The Annual General Meeting (AGM) of the Company is scheduled to be held on August 02, 2013. Dividend, if declared at the said AGM, will be paid on and from August 03, 2013, to the Members entitled to receive the same.  Full Article

Tata Group's Indian Hotels Company Ltd Seeks RBI Nod To Hive Off International Operations-The Economic Times
Thursday, 9 May 2013 06:30pm EDT 

The Economic Times reported that Tata Group's hotel arm, Indian Hotels Company Ltd (IHCL), has sought the Reserve Bank of India's approval to hive off international operations into a new company, persons with direct knowledge of the matter said. IHCL plans to bring all overseas hotel assets under this step-down holding company, and subsequently raise money by selling up to a 49% stake to foreign investors, the sources. The international assets include ownership of Campton Place Hotel in San Fransisco, Taj Boston and hotels in Sri Lanka, Maldives, Dubai and Bhutan. IHCL also has a management contract for The Pierre in New York. A minority stake in Orient Express is also part of the key international assets of the Company.  Full Article

Indian Hotels Company Ltd's Taj Hotels Expands Vivanta brand, Opens New Property-Business Standard
Monday, 17 Dec 2012 12:06am EST 

Business Standard reported that Indian Hotels Company Ltd's Vivanta by Taj Hotels and Resorts, owned and managed by Taj group of hotels, has expanded its network by adding a new property in Karnataka‚Äôs hill station, Madikeri. This hotel is the 25th property in the Vivanta portfolio since the brand was launched in 2010. The new hotel has 63 rooms and villas and presidential Nirvana Suite.  Full Article

Indian Hotels Company Ltd Set To Sweeten Orient Express Offer-The Economic Times
Wednesday, 5 Dec 2012 08:19pm EST 

The Economic Times reported that Tatas-owned Indian Hotels Company Ltd is working on a revised offer to acquire British hospitality group Orient Express, sweetening the price 10-15 % in the coming days. The renewed offer could be more than $15 per share as IHCL readies the backing of an expanded lenders consortium to power the bid, after Orient Express last month turned down $12.63 a piece offer valuing it at $1.86 billion. IHCL, which operates hotels and resorts under the Taj brand, has opened discussions with lenders like BNP Paribasto expand the $750 million financing armoury from Standard Chartered Bank, ICICI Bank and Bank of America Merrill Lynch. Tatas made the bid along with Ferrari boss Luca Cordero di Montezemalo and former Orient Express CEO Paul White. The consortium has indicated that it would enhance the offer if the British luxury chain allowed them to do due diligence.  Full Article

Indian Hotels expects additional provision of $66 mln for March-end

NEW DELHI, March 11 - The Indian Hotels Company Limited (IHCL) expects to make an additional provision for its overseas and domestic investments, some of which have been adversely affected "due to a sustained depression in the macroeconomic and market environment," the company said in a statement on Tuesday.

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