 "The group has rolled out its Tajness initiative at its flagship hotel in Mumbai")
Indian Hotels’ plan to raise Rs 1,500 crore to fund capital expenditure, growth plans and for debt repayment has not gone down well with investors. The announcement by the company during market hours led to the stock shedding three per cent at close on Monday. The market reaction, however, may not be justified entirely.
While the company has not spelt out how the proceeds would be utilised, analysts expect it to be a mix of capex and debt repayment. Analysts say the company could use half the proceeds to fund the development of its Mumbai-based Sea Rock property while the
