Business News | ITC Hotels to Get Listed on January 29 as Part of ITC Demerger
Get latest articles and stories on Business at LatestLY. In 2024, ITC had decided to demerge its hotel business into a separate listed company, aimed at unlocking value for shareholders.
New Delhi [India], January 27 (ANI): 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.
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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. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)