ITC Hotels shares to be listed on Jan 29

Effective January 6, 2025, ITC Hotels was demerged from ITC on January 6 and initially appeared as a placeholder entity in the indices with a fixed price of approximately Rs 260.
Image used for representational purposes only.
Image used for representational purposes only.FILE | ANI
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Kolkata-based FMCG to cigarette conglomerate - ITC Ltd - on Monday announced that ITC Hotels will be listed on the stock exchanges on January 29. ITC Hotels was recently demerged from its parent entity ITC. 

“Further to our letter dated 11th January, 2025, we write to advise that ITC Hotels Limited (ITCHL) has informed us today that ITCHL has received approval from the National Stock Exchange of India Limited and BSE Limited for listing and trading of its equity shares effective 29th January, 2025,” said ITC in an exchange filing. 

Effective January 6, 2025, ITC Hotels was demerged from ITC on January 6 and initially appeared as a placeholder entity in the indices with a fixed price of approximately Rs 260. The NSE and the BSE, using the price discovery method, held a special trading session for ITC shares to establish the value of ITC's hotel business.

Then on January 11, ITC distributed 125.11 crore equity shares of ITC Hotels to its shareholders. Shareholders of ITC will get one share for every 10 shares they hold in the company. 

There will be no change in the shareholding pattern of ITC. Post the implementation of the demerger scheme, the shareholders of ITC will directly hold about 60% of the resulting company, proportionate to their shareholding in ITC; the balance stake of about 40% in the resulting company will be held by ITC. 

The demerger of ITC's hotel business is part of the company's broader strategy to unlock shareholder value as it would allow the different verticals to operate independently.

ITC Hotels currently has 140 properties with 13,000 rooms, of which 45% are owned and 55% are operated through management contracts. It aims to grow its portfolio to over 200 hotels and over 18,000 keys by 2030.

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