THE INDIAN HOTELS COMPANY LIMITED : AMALGAMATION OF ORIENTAL HOTELS LIMITED APPROVED

• Board of Directors approved the Scheme of Arrangement for amalgamation of Oriental Hotels Limited (OHL) into and with The Indian Hotels Company Limited (IHCL). • The Scheme is subject to sanction by NCLT, shareholder/creditor approvals, and other regulatory approvals. • OHL's Revenue and Net Worth as on March 31, 2026, were ₹500.7 Cr and ₹480.5 Cr respectively. IHCL's were ₹5,640.16 Cr and ₹12,766.95 Cr. • IHCL holds 37.05% of OHL's equity share capital as of June 30, 2026. The transaction falls under related party transactions but is exempt from Section 188 of the Companies Act. • Consideration for the Scheme is based on an "arm's length" Share Exchange Ratio, with fairness opinion provided by Kotak Mahindra Capital. • Amalgamation aims to create synergies, leverage financial resources, and achieve operational and cost efficiencies. • Share exchange ratio: 25 equity shares of IHCL for every 117 equity shares of OHL.

The Indian Hotels Company Limited

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