Anil Ambani-led Reliance Mutual Fund has increased its stake in Tata group-operated Indian Hotels Co. Ltd (IHCL) to nearly 8 per cent from 2 per cent through multiple share purchases over the recent months, according to a report in PTI.
With this deal, Anil Ambani seems to be following the footsteps of his elder brother Mukesh Ambani whose Reliance Industries already owns a 18.53 per cent stake in EIH Ltd, the main listed entity from Oberoi Group that runs a chain of luxury hotels.
