The country’s biggest hospitality player, The Indian Hotels Company Ltd (IHCL), on Thursday (October 23), said it has infused ₹219.69 crore ($25 million) as equity in its wholly owned Netherlands subsidiary, IHOCO BV. The investment, effective immediately, will be used by IHOCO BV to further invest in its subsidiaries, including for repayment of debt and operational requirements.
IHOCO BV serves as IHCL’s apex holding company for its overseas hospitality investments. Incorporated on June 29, 1984, the company’s turnover for the last three financial years stood at ₹3.84 crore in FY2024-25, ₹6.08 crore in FY2023-24, and ₹0.17 crore in FY2022-23. Its net worth as of March 31, 2025, is ₹3,057.14 crore, while PAT stood at ₹28.06 crore.
The transaction involves a cash infusion and does not change IHCL’s shareholding in IHOCO BV, which will continue to remain a wholly owned subsidiary. As the transaction is between a holding company and its wholly owned subsidiary, it is exempt from related party transaction disclosures. The promoter, promoter group, or group companies do not hold any interest in IHOCO BV.
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Last month, Indian Hotels Company Ltd said it had detected a malware incident affecting select IT systems. The company said immediate action has been taken to contain the impact and secure its systems.
IHCL confirmed that relevant authorities have been notified of the attack and that it continues to monitor the situation closely. Despite the malware detection, business operations remain unaffected and are continuing as usual, the company stated.
Shares of Indian Hotels Company Ltd ended at ₹738.00, down by ₹6.25, or 0.84%, on the BSE.
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