Tata Sons to dilute stake in Indian Hotels; looks to raise Rs 2,000 crore

On a standalone basis, IHCL's gross debt was Rs 1,665 crore and it had liquidity of Rs 580 crore, as of December last year

Tata Sons, the parent firm of Indian Hotels Company (IHCL), plans to dilute its stake by up to 8 per cent in the hotel major, as the hospitality giant is looking to raise around Rs 2,000 crore via qualified institutional placement (QIP) in the next two weeks.

Tata Sons holds a 41 per cent stake in IHCL, the operator of the Taj group of hotels. IHCL will use the proceeds to reduce its consolidated debt worth Rs 1,905 crore (as of December last year). The debt reduction by IHCL is part of the Tata group’s plans to do so in all