New Delhi, Aug. 24 -- Tata Group-owned Indian Hotels Company Ltd (IHCL) on Monday said Oriental Hotels Ltd (OHL) will be merged with IHCL through an all-stock transaction. The Boards of Oriental Hotels and IHCL have approved a Scheme of Arrangement to this effect.

The Scheme of Arrangement proposes a share swap ratio of 25 IHCL shares for every 117 OHL shares and aims to complete the transaction in the second half of FY2028.

Oriental Hotels Limited is an associate company of The Indian Hotels Company Limited and 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-as well as long-tenure leasehold assets, including Taj Malaba...