which owns Taj properties in Chennai is merging with .
OHL is an associate compay IHCL 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, 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 overseas including those in London and Sri Lanka.
IHCL owns 37 per cent stake in OHL.
“The merger 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,” IHCL chief executive officer and managing director Puneet Chhatwal.
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.”