THE INDIAN HOTELS CO. LTD

The Indian Hotels Company Limited (IHCL) has approved a merger with Oriental Hotels Limited (OHL) as part of its group simplification strategy. IHCL currently holds a 37.1% stake in OHL, an associate company. The merger involves a share swap, with OHL shareholders receiving 25 IHCL shares for every 117 OHL shares, resulting in a ~1.6% dilution for IHCL. Management expects the merger to add 7 hotels, including 3 freehold properties, to IHCL's portfolio, enhancing its presence in southern India. The transaction is structured as an all-stock deal, aiming for financial consolidation by April 2027. Strategic objectives include simplifying the group structure, increasing shareholding in key companies, and unlocking asset management opportunities. Management projects the merger to be EPS accretive from year one, with potential synergies and cost efficiencies. The presentation includes forward-looking statements about growth and operational improvements, subject to risks and uncertainties.

The document presents factual information about the merger, including its structure, strategic objectives, and potential benefits, without overtly positive or negative language.