Nippon India Mutual Fund increased its stake in ITC Hotels Limited from 1.59% to 2.28%, acquiring an additional 14,249,612 shares. The total value of the shares acquired is ₹234.39 Cr, with each share priced at ₹164.59.
A hospitality company that operates and manages hotels across over 90 destinations in India and internationally. ITC Hotels runs properties under multiple brands including ITC Hotels, WelcomHotel, Fortune, Welcome Heritage, Mementos, and Epiq Collection Storii, with most hotels operated under a franchise agreement with Marriott International's The Luxury Collection. The company serves leisure and business travelers through diverse hotel formats catering to varying price segments and customer preferences.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.
