ITC Hotels to Go Public After Successful Demerger

ITC Hotels, a prominent player in Indian hospitality, is set to be listed on exchanges this Wednesday following a successful demerger from its parent company, ITC. Approved by the National Company Law Tribunal, shareholders will soon receive shares in the newly independent company.

In a significant market development, ITC Hotels is preparing for its debut on stock exchanges this Wednesday. The announcement, made by parent company ITC, comes after a strategic move in 2024 to spin off the hotel business into a standalone listed entity, aiming to enhance shareholder value.

The demerger was sanctioned by the National Company Law Tribunal, Kolkata Bench. Its approval on October 4, 2024, marked a crucial step in the Scheme of Arrangement between ITC Limited and ITC Hotels Limited along with their respective shareholders and creditors. Under the terms, investors holding 10 shares of ITC by January 6, 2025, are to receive one share of ITC Hotels.

Since its inception in 1975, ITC Hotels has expanded its footprint significantly, now boasting over 140 properties across more than 90 destinations in the Indian subcontinent. This move is expected to solidify its strong presence in the hospitality sector.

(With inputs from agencies.)