ITC Hotels, the demerged hotels arm of ITC Ltd., will make its stock market debut today on NSE and BSE. The listing follows ITC’s decision to spin off its hotel business into a separate entity to unlock value for shareholders.
Accordingly, for every 10 shares of ITC as on January 6, 2025, investors have got one share of ITC Hotels. The stock, after listing, shall be retained in all NSE and BSE indices at the fixed price for three trading days. In case the stock reaches the circuit limits, their exclusion from indices will be deferred correspondingly.
Excluding the value of its hotels business, ITC’s stock price was at Rs 455 per share on January 6, down Rs 27 from the previous session’s close.
Under the scheme, near 60% equity of ITC Hotels will be directly held by ITC shareholders, while ITC Ltd will retain the remaining 40%. The fact that the listing price of ITC Hotels today could unlock extra value for its shareholders will make its IPO closely watched by market participants.
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Source: Moneycontrol
News Desk
