InvestorQ : Is it true that Indian Hotels plans to become totally debt free?
Aashna Tripathi made post

Is it true that Indian Hotels plans to become totally debt free?

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Aditi Sharma answered.
2 months ago
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The Tata owned Indian Hotels, owner of the Taj Group worldwide, plans to defray all its debt by April 2023 and become debt free. Post the pandemic, the debt of IHCL has touched a record high of Rs.3,612 crore. To fund this debt reduction, Indian Hotels will raise Rs.2,000 crore via rights issue and another Rs.2,000 crore via QIP placement.

Once the debt defrayment of Indian Hotels is completed, it plans to reduce debt in subsidiaries like Ginger Hotels and other foreign subsidiaries. IHCL’s revenue recovery has been much better than expected as revenues rose 184% on a yoy basis after the COVID break.

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