Here are the details of ITC Hotels‘ listing: 125,11,71,040 shares have been allocated; see the NSE and BSE debut dates.
Details of the ITC Hotels listing: On January 11, 2025, the diversified FMCG multinational ITC announced that its shareholders had received 125,11,71,040 equity shares of Re 1 each from the board of directors of ITC Hotels Company Limited (ITCHL). As a result, on January 11, 2025, ITCHL ceased to be an ITC subsidiary.
Details of the ITC Hotels listing: The FMCG giant ITC and its stock have been in the headlines since the beginning of this year. The record deadline to identify eligible shareholders for the plan was January 6, 2025, and the proposed demerger of its hotels business went into effect on January 1, 2025.
Details of the ITC Hotels Listing
On January 11, 2025, the diversified FMCG multinational ITC announced that its shareholders had received 125,11,71,040 equity shares of Re 1 each from the board of directors of ITC Hotels Company Limited (ITCHL). As a result, on January 11, 2025, ITCHL ceased to be an ITC subsidiary.
Listing of ITC Hotels
Additionally, ITC Limited disclosed that ITCHL will submit the required application or applications in order to list its equity shares. These shares will be frozen until the NSE and BSE stock exchanges authorize their listing or trading.
ITC Hotels recently notified its shareholders that it has already applied for permission to list its shares with the NSE and BSE. Following listing, trading in ITC Hotels shares will start.
ITC said last month that the shares of ITC Hotels will be completed by the middle of February. ITC had stated that ITC Hotels’ listing will be completed within 60 days after NCLT’s approval of the ITC Hotels demerger.
On December 16, 2024, the NCLT’s Kolkata bench authorized the demerger.
Based on this data, ITC Hotels’ stock may be listed on the NSE and BSE prior to the middle of February 2025.
The share price of ITC Hotels?
ITC Limited’s share price changed by Rs 26 per share on the NSE (Rs 455.60) and Rs 27 per share on the BSE (Rs 455) on the hotels demerger record date. On listing, the share price of ITC Hotels is expected to be between Rs 200 and Rs 300, according to brokerage company Nomura.
The market value of ITC Hotels is anticipated to be between Rs 42,500 and Rs 60,000 crore.
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