Singapore’s GIC, Indian Hotels sign $600m investment deal

Photo: Unsplash

Tata-group owned Indian Hotels Co Ltd (IHCL), which runs the Taj luxury hotel chain, on Friday signed a strategic partnership with Singapore’s sovereign wealth fund GIC Pte Ltd for an investment framework of around ₹4,000 crore ($600 million) for a period of three years. This investment platform will be used to acquire fully operational hotels mainly in the luxury, upper upscale and upscale segments in India, IHCL said in a BSE filing.

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