Oriental Hotels Approves Amalgamation With Indian Hotels Company

OHL’s Board approved its amalgamation into promoter IHCL, subject to NCLT, shareholder, stock-exchange, SEBI and other approvals. OHL public shareholders will receive 25 IHCL shares for every 117 OHL shares; existing IHCL and subsidiary holdings will be cancelled. Context: materially broader than the proposed standalone HMA renewal.