Shares of ITC Hotels were listed at ₹180 on the National Stock Exchange (NSE) and ₹188 on BSE following its demerger from ITC Ltd. However, the stock fell on both bourses, dropping by 4.81% to ₹171.35 on NSE and 5% to ₹178.60 on BSE.
The demerger was effective on January 1, 2025, with a share entitlement ratio of 10:1. Shareholders holding 10 shares of ITC Ltd received one share of ITC Hotels. ITC Ltd retained a 40% stake in ITC Hotels, with the remaining 60% distributed among existing shareholders.
At the listing programme, Sanjiv Puri, Chairman of ITC Hotels, called it a landmark moment in the company’s journey. He emphasized the commitment to creating value for stakeholders and achieving global benchmarks in hospitality.
Anil Chadha, Managing Director of ITC Hotels, expressed the company’s vision to become a global leader in Indian hospitality. The company operates across various segments with a portfolio of six brands and plans to expand to over 200 hotels in the next five years.
ITC Hotels recently launched 30 hotels within 24 months and aims to add at least one hotel per month on average over the next 24 months. The Kolkata bench of the National Company Law Tribunal (NCLT) sanctioned the demerger scheme on October 4, 2024.
Overall, the company is looking forward to redefining the future of hospitality and contributing to India’s tourism landscape and goals for sustainable growth.
