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Tata Group's Indian Hotels divests 1.24% stake in Belmond for nearly Rs 82 crore

2016-02-26 10:01:57| Steel - Topix.net

The sale proceeds are being utilised for the retirement of debt, Indian Hotels Company said in a filing to BSE. Tata Group hospitality arm Indian Hotels Company has said its overseas arm Samsara Properties has sold over 12.7 lakh shares or 1.24% of Belmond for a consideration of $11.96 million to pare debt.

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