IHCL and Oriental Hotels Announce Merger

The Indian Hotels Company Limited (IHCL) and Oriental Hotels Limited (OHL) have announced a merger through a Scheme of Arrangement, subject to statutory approvals. This amalgamation aims to simplify IHCL's group structure, unlock OHL's portfolio value, and leverage IHCL's balance sheet for strategic investments. OHL, an associate of IHCL, operates seven hotels with 825 rooms. The proposed share exchange ratio is 25 IHCL shares for every 117 OHL shares, an all-stock transaction targeted for completion in the second half of FY2028, with an Appointed Date of April 1, 2027. This merger is expected to create significant value for OHL shareholders and streamline governance and operations.