The share price of ITC Limited was adjusted today, January 6, 2025, which had been set as the ‘record date’ to determine the eligible ITC shareholders who will receive shares of ITC Hotels upon its listing on the NSE and BSE.
At the end of the special session held by the exchanges for price discovery of the hotel business, the share price settled at ₹455 per share on the Bombay Stock Exchange (BSE) while it was ₹455.6 per share on the National Stock Exchange (NSE).
Last year, ITC Limited announced a strategic move in the previous year to separate its hotel business into an independent listed company, aiming to enhance shareholder value. Under the demerger scheme, ITC shareholders will receive one share of ITC Hotels for every ten ITC shares they own as of January 6, 2025. This 1:10 demerger ratio will determine the allocation of shares in the newly formed entity.
After the demerger, ITC will continue to hold a 40% stake in the hotel business.
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