ITC Sets January 6 as Record Date for Hotel Business Demerger
ITC Limited has officially announced January 6, 2025, as the record date for its much-anticipated demerger of the hotel business. This move aims to streamline its business operations and provide shareholders with enhanced value.
In a filing with the stock exchange, ITC stated, “The Company and ITC Hotels Limited (ITCHL) have mutually agreed to fix Monday, January 6, 2025, as the record date for determining the shareholders eligible to receive equity shares of ITCHL in accordance with the Scheme of Arrangement between ITC Limited and ITC Hotels Limited.”
The effective date for this demerger has been set as January 1, 2025. Post-demerger, shareholders of ITC will receive proportionate equity shares of ITC Hotels Limited, ensuring continuity and seamless value transfer.
At 1:05 PM on December 18, ITC shares were trading at ₹469.65 per share, reflecting stability in investor sentiment amid the demerger news.
Key Details About ITC Hotel Business Demerger:
- Record Date: January 6, 2025
- Effective Date: January 1, 2025
- Shareholders to receive equity shares in ITC Hotels Limited (ITCHL).
This strategic move aligns with ITC’s focus on unlocking value in its diversified portfolio and enhancing shareholder returns.
