Today is a very special day for the shareholders of ITC Hotels!
Yesterday, monday 6 january 2025 is a very special day for ITC Hotels, a hotel business company separated from ITC Limited, and its shareholders. A one-hour special trading session will be organized on BSE and National Stock Exchange for price discovery of ITC Hotels shares after demerger from ITC. The share price of ITC Hotels will be known in this special session.
The demerger of ITC Hotels, a hotel business company, from ITC, a company involved in cigarettes to FMCG sector, has become effective from january 1, 2025, but the demerger of the stock of the hotel company from the parent company is happening today and a one-hour special trading session is being organized on the stock exchange from 9 am to 10 am to discover the price of ITC Hotels shares. Today is a very special day for the nearly 36 lakh shareholders of ITC who have been waiting for a long time for the value unlocking of the hotel business.
Since ITC is included in the Sensex 30 and Nifty 50 index, the stock of ITC Hotels will trade as the 31st stock in the Sensex and the 51st stock in the Nifty 50 till the company is formally listed on the stock exchange. Whatever price is discovered for the stock of ITC Hotels in the special trading session, the share price of the parent company ITC will be reduced by that much. Brokerage houses are estimating the price discovery of the stock of ITC Hotels between Rs 150 and Rs 200.
Investors are being given 1 ITC Hotels share in exchange for every 10 shares of ITC. Investors whose names are included in the record book on monday 6 january 2025 will get the benefit of demerger. ITC Hotels shares will be credited to the demat accounts of eligible investors within a few days. And the listing of ITC Hotels shares on the stock exchange is expected in the month of February. In the last trading session, ITC shares closed at Rs 481.60 with a decline of 1.52 percent.