New Delhi [India], January 27 : Shares of ITC Hotels will be listed on the exchanges on Wednesday, parent company ITC has announced today.
In 2024, ITC had decided to demerge its hotel business into a separate listed company, aimed at unlocking value for shareholders.
The National Company Law Tribunal, Kolkata Bench, vide its order dated October 4, 2024, had approved the Scheme of Arrangement between ITC Limited and ITC Hotels Limited and their respective shareholders and creditors.
Reportedly, shareholders holding 10 shares of ITC, as on January 6, 2025, will receive one share of ITC Hotels post the demerger process.
Established in 1975, ITC Hotels now has over 140 hotels across over 90 destinations, solidifying its presence in the Indian subcontinent.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor