Indian Hotels Company said its board approved raising long term funds not exceeding Rs 750 crore through multiple debt instruments in one or more tranches.
The board of Indian Hotels Company approved raising long term funds not exceeding Rs 750 crores by way of external commercial borrowings, foreign currency borrowings, non-convertible debentures, term loans or through any other debt instrument in one or more tranches. The announcement was made during trading hours today, 22 April 2020.Indian Hotels' consolidated net profit jumped 28.22% to Rs 175 crore on a 3.72% increase in net sales to Rs 1,372.72 crore in Q3 December 2019 over Q3 December 2018.
Indian Hotels Company and their subsidiaries are collectively known as Taj Hotels Resorts and Palaces and are recognized as one of Asia's largest and finest hotel company.
Shares of Indian Hotels Co. declined 2.57% to Rs 77.60 on BSE. The scrip hovered in the range of Rs 76.85 to Rs 83.60 so far.
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