What was filed
The Indian Hotels Company Limited (IHCL) has announced that its board, alongside that of Oriental Hotels Limited (OHL), approved a Scheme of Arrangement to amalgamate OHL — currently an associate company of IHCL — into the company. IHCL described the move as part of its "Accelerate 2030" strategy of simplifying the group's holding structure and consolidating the OHL portfolio. The Scheme remains subject to statutory approvals and clearances.
The structure and terms
This is an all-stock transaction; the share exchange ratio, Appointed Date and targeted completion are set out in the key-facts panel. IHCL said the merger would increase its direct ownership across several entities and create two new operating subsidiaries, which it expects to streamline governance and reduce overheads. On IHCL's side, PwC Business Consulting Services LLP acted as Registered Valuer and recommended the exchange ratio, with a Fairness Opinion from Kotak Mahindra Capital; on OHL's side, SSPA & Co. was Registered Valuer, with a Fairness Opinion from Motilal Oswal Investment Advisors.
What comes into IHCL
OHL brings a portfolio described in the filing as freehold assets — Taj Coromandel and Taj Fisherman's Cove Resort & Spa in Chennai, and Gateway Coonoor — and long-tenure leasehold assets including Taj Malabar Resort & Spa in Cochin and Vivanta properties. OHL also holds strategic investments in several IHCL group hotel companies in India and internationally, including St. James Court, TAL Hotels and Resorts and Lanka Island Resorts. IHCL said it would leverage its balance sheet to support inventory expansion and product enhancements across the portfolio.