Tata Group-owned Indian Hotels Company Ltd (IHCL) has announced plans to merge Oriental Hotels Ltd (OHL) with itself through an all-stock transaction.

The boards of both companies have approved a Scheme of Arrangement for the proposed merger.

Under the scheme, shareholders of Oriental Hotels will receive 25 IHCL shares for every 117 OHL shares held.

The transaction is expected to be completed in the second half of FY2028, subject to applicable approvals and regulatory requirements.