TTT NEWS NETWORK
MUMBAI | 24 AUGUST 2026
The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, today announces that Oriental Hotels Limited (OHL) will be merged with IHCL through a Scheme of Arrangement. The Scheme is subject to statutory approvals and clearances.
Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCLsaid, “In line with our Accelerate 2030 strategy of creating value, simplifying the group’s holding structure and unlocking the full potential of OHL portfolio including iconic assets like Taj Coromandel, Chennai, Taj Fisherman’s Cove Resort & Spa, Chennai and Taj Malabar Resort & Spa, Cochin, the Boards of IHCL and OHL have today approved this merger.”
He added, “Themerger will drive long-term value creation by leveraging IHCL’s strong balance sheet to support strategic investments, including inventory expansion and product enhancements further strengthening the premium positioning of the portfolio.”
Oriental Hotels Limited is an associate companyof The Indian Hotels Company Limited. The company has a portfolio of seven hotels with 825 rooms. This includes freehold assets: Taj Coromandel -Chennai, Taj Fisherman’s Cove Resort & Spa – Chennai and Gateway Coonoor, and long tenure lease hold assets: Taj Malabar Resort & Spa – Cochin, Vivanta Coimbatore, Vivanta Mangalore and Gateway Madurai. Additionally, OHL has strategic investments in several IHCL group hotel companies in India and internationally including St. James Court, TAL Hotels and Resorts Ltd, Lanka Island Resorts Ltd, Taj Madurai Ltd and Taj Karnataka Hotels and Resorts Ltd.
Mr. Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd. said, “IHCL, India’s largest hospitality ecosystem, has built a resilient and diversified business model anchored by a strong brands cape that caters to the country’s diverse travel needs. The company has delivered seventeen consecutive quarters of record performance, achieving fourfold portfolio growth, sustained double-digit increase in revenue and profitability and strong return on capital employed. The merger of OHL with IHCL will create significant value for OHL shareholders, enabling them to now participate directly in IHCL’s growth journey.”
Mr. Ankur Dalwani, Executive Vice President & Chief Financial Officer, IHCL said, “The Scheme of Arrangement proposes a share exchange ratio of 25 IHCL shares for every 117 OHL shares and is an all-stock transaction, with completion targeted in the second half of FY2028 and Appointed Date of April 1, 2027.”
He added, “The merger will further simplify the group’s holding structureby increasing IHCL’s direct ownership across several entities, resulting in two new operating subsidiaries. This will streamline governance, optimise overheads, enhance operational efficiency, and support our Accelerate 2030 objectives.”
Transaction Advisors
For IHCL, PwC Business Consulting Services LLP acted as the Registered Valuer, undertaking the valuation exercise and recommending the share exchange ratio. KotakMahindra Capital Company Limited provided the Fairness Opinion, while Cyril Amarchand Mangaldas served as legal counsel.
On behalf of OHL, SSPA & Co., Chartered Accountants acted as the Registered Valuer, undertaking the valuation exercise and recommending the share exchange ratio.Motilal Oswal Investment Advisors Limited provided the Fairness Opinion, and Kochhar & Co. acted as legal counsel.
About The Indian Hotels Company Limited:
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitalityand world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as World’s Strongest Luxury Hotel Brand 2026 and India’s Strongest Brand 2026 as per Brand Finance; Claridges Collection,a curated set of boutique luxury hotels merging elegance with historical charm; Brij, an experiential leisure offering; Atmantan, one of India’s leading integrated wellness destinations; SeleQtions, a named collection of hotels; Gateway,full-service hotels designed to be your gateway to exceptional destinations; Vivanta, sophisticated upscale hotels; Tree of Life, private escapes in tranquil settings and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCL hasa portfolio of 650 hotels including 268 in the pipeline globally across 4 continents, 15 countries and over 300 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization.It is listed on the BSE and NSE.
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