ITC Hotels Debuts on Stock Market Post Demerger

ITC Hotels Ltd, newly demerged from ITC Ltd, listed its shares on stock exchanges, starting at Rs 188 on BSE and Rs 180 on NSE. The stocks fell by 5% and 3% respectively. The move was completed on January 1, 2025, with official trading starting January 29, 2025.

ITC Hotels Ltd, the newly demerged entity from FMCG giant ITC Ltd, made its stock market debut on Wednesday. The shares were listed at Rs 188 on the Bombay Stock Exchange (BSE) and Rs 180 on the National Stock Exchange (NSE).

However, post-listing, the share prices experienced a decline. On the BSE, the stock fell by 5%, dipping to Rs 178.60, while on the NSE it decreased by 3% to Rs 172. The company's market valuation reached Rs 39,126.02 crore.

The demerger, effective from January 1, 2025, was part of ITC's strategic plan to separate its hotel business, with January 6 set as the record date. Trading of ITC Hotels' equity shares will officially begin on January 29, 2025, as per approvals from NSE and BSE.

(With inputs from agencies.)