Last chance to get shares of ITC Hotels, do this work!
If you want to get shares of ITC Hotels, a company running a hotel chain named ITC Maurya, then today is a very important day for you. Immediately after the opening of the stock market today on 3 january 2025, buy shares of ITC Hotels' parent company ITC Limited, only then you will be entitled to get shares of ITC Hotels.
ITC shares will be demerged on january 6
The demerger of ITC Limited and ITC Hotels has become effective from january 1, 2025. But the record date for the demerger of shares of ITC Limited and ITC Hotels is 6 january 2025. That is, on Monday, january 6, the share of ITC Hotels will be separated from ITC Limited and the price discovery of the shares of ITC Hotels will be done.
6 january is very special for ITC Hotels
On 6 january 2025, a special trading session will be organized for the price discovery of ITC Hotels stock. ITC Hotels shares are likely to be listed on the stock exchange in the month of February. Let us tell you that the price discovery will be just like a special session was organized for the price discovery of jio Finance stock after the demerger of jio Financial from reliance Industries. After the price discovery of ITC Hotels shares, the price will be adjusted in ITC stock.
1 ITC Hotels stock will be given in exchange for 10 shares
After the demerger of ITC Hotels shares from ITC, the investor who has 10 ITC shares will get one ITC Hotels share. That is, the investor who has 100 ITC shares will be given 10 ITC Hotels shares. ITC Hotels shares will be credited to the demat accounts of eligible investors within a few days of january 6, 2025, which has been fixed as the record date for the demerger. Earlier, in a regulatory filing with the stock exchange, ITC said that the demerger of ITC Hotels will be effective from january 1, 2025. The regulatory filing said that ITC Limited and ITC Hotels Limited have fulfilled all the necessary conditions for the demerger with mutual consent. The kolkata Bench of NCLAT has approved the demerger of ITC Hotels from ITC Limited on 4 october 2024. The shareholders have approved the decision to demerge ITC Hotels, a hotel business company, from ITC Limited. ITC will have a 40 percent stake in ITC Hotels. 60 percent stake in ITC Hotels will be given to the shareholders of ITC.