Deal Highlights
- New Delhi Municipal Council (NDMC) auctioned the licence rights of the property located at Plot No. 1, Man Singh Road, New Delhi (Taj Man Singh)
- SBICAPS acted as the sole Transaction Advisor to NDMC and assisted them in the end-to-end auction process which included review of building plans, development of an auction framework, preparation of tender documents, managing the pre-bid meeting, responding to queries from prospective bidders, assisting in conducting of site visits, handholding during evaluation of bids, scheduling of the live e-auction and handholding in document execution.
- The 292 room hotel with a built-up area of 2,45,884.79 square feet built over an area of 3.78 acres is a marquee property located in the heard of Lutyen’s Delhi.
SBICAPS ROLE
- SBICAPS was able to deliver the best value to all the stakeholders, viz, NDMC and the Bidders
- Indian Hotels Company Ltd (the Taj Group) was the highest bidder offering 32.50% revenue share, an increase of almost 88% from the erstwhile revenue share of 17.25% being offered by the previous licensee
Deal Details
| Licence Tenor | 33 Years | |
| Annual Licence Fee | INR 36 Cr or 32.50% of Gross Revenue | |
| Annual Escalation | As per WPI | |
| Documentation Date | April 11, 2019 |
