ITC Hotels The shares will make their debut on BSE and NSE on January 29. Parent company ITC announced this in an exchange filing on January 27. ITC had split its hotel business into a separate entity last year. Now it will be listed in the stock market. Under the demerger of the hotel business, shareholders of ITC Limited will get one equity share of ITC Hotels for every 10 shares of ITC held by them. But its benefit will be available only to those who held ITC shares till January 6, 2025.
ITC will hold 40% stake in the newly separated entity. The remaining 60% stake will be held by existing shareholders, in proportion to their stake in ITC. At the end of a special trading session on stock exchanges on January 6, the market fixed the price of ITC Limited at Rs 455.60. After the separation of the hotel business, this special trading session was kept for price discovery of ITC shares.
more than 140 hotels
By October 2024, ITC Hotels had a business of more than 140 hotels. SBI Securities on December 31 said the hotel business has a long way to go to capitalize on the growth opportunities in India’s tourism industry. SBI Securities estimates ITC Hotels to post a net profit of ₹546 crore in fiscal 2025.
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According to Nuvama, the initial market price of ITC Hotels shares could be between Rs 150-175 per share. Whereas Sharekhan believes that ITC Hotels shares will be listed in the range of Rs 150-170 per share and Japanese brokerage Nomura believes that it will be listed in the range of Rs 200-300 per share.
ITC shares closed at Rs 440 on BSE on January 27 with a slight decline of 0.34 percent. The market cap of the company is more than Rs 5.50 lakh crore. The entire 100 percent stake in the company is held by public shareholders.
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