ITC ready to raise EIH stake to around 25%

Mounting pressure on Analjit Singh, ITC chairman Yogi Deveshawar said on Thursday his company was open to increasing stake in EIH that owns the Oberoi and Trident Group of Hotels, but it would not go beyond 25%.

Talking to reporters on the sideline of a seminar, the ITC chairman said: “No company remains shut on thinking and ideas. The decision will ultimately lie with the board. We are open to upping the stake in the company. If at all we increase the stake, it won’t exceed 25%,” he said.

However, he did not disclose the rationale behind maintaining it at 25%, which is 1% below 26% required to bloc special resolutions. “No comments,” he said, when asked why he doesn’t want to go beyond 25%. He did not disclose


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