New Delhi, Aug. 27 -- The Indian Hotels Co. (IHCL) announced an all-stock merger with its associate company, Oriental Hotels (OHL), at a swap ratio of 25:117. The merger would strengthen IHCL's presence in southern India by increasing the region's hotel keys from 1,279 to 2,104 post-merger.

"The merger of OHL into IHCL is another step in simplifying the group structure, following the exit from TajGVK and consolidation of TajSATS. This reduces listed entity complexity and governance overheads," said a Jefferies India report. "OHL holds stakes in several IHCL group hotel entities, including St. James Court, TAL Hotels & Resorts, Lanka Island Resorts, Taj Madurai, and Taj Karnataka Hotels & Resorts. The merger further streamlines the holdin...