India's Oriental Hotels rises after all-stock merger with Indian Hotels Company
24/08/2026 05:13
BUZZ-India's Oriental Hotels rises after all-stock merger with Indian Hotels Company ** Oriental Hotels' ORHT.NS shares rise 1.4% to 140.50 rupees
** Co merges with Indian Hotels Company IHTL.NS through a Scheme of Arrangement
** "The Scheme of Arrangement proposes a share exchange ratio of 25 IHCL shares for every 117 OHL shares and is an all-stock transaction," - IHTL
** Transaction targeted to be completed in H2 FY28
** Oriental Hotels operates seven hotels and is an associate company of IHTL
** "The merger will drive long-term value creation by leveraging IHCL's strong balance sheet to support strategic investments," - Puneet Chhatwal, MD & CEO, IHTL
** YTD, ORHT up 38.8%, IHTL down 1.3%
(Reporting by Abhinav Parmar in Bengaluru)
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