New Delhi: ITC Hotels, which was spun off from ITC, was removed from the benchmark Sensex and other BSE indices on February 4, 2025 (Tuesday). ITC Hotels, which began trading separately, was temporarily included in the Sensex and a few other indices to enable passive funds to rebalance their portfolios.
“As ITC Hotels did not hit the lower circuit till the cut-off time, the company will be dropped from all the BSE indices effective prior to the open of trading on Wednesday,” a BSE notice read. The stock was listed on Indian stock exchanges on January 29, 2025.
As the ITC Hotels shares did not hit lower circuit till the cut-off time on Tuesday, February 04, 2 pm, it will be removed from the BSE indices.
ITC Hotels stock market debut and properties
ITC share price closed at Rs 454.30 apiece on Tuesday. ITC Hotels stock listed at Rs 188 on the BSE, on at Rs 180 on the NSE. The demerger of ITC hotel business came into effect on January 1, 2025, with January 6 fixed as the record date.
ITC Hotels, which became a new entity after the demerger of the hotels business of diversified conglomerate ITC Ltd, listed on the stock exchanges in January 2025. After making its market debut, it announced to expand its portfolio to over 200 hotels over the next five years.
Presently, ITC Hotels operates a bouquet of over 140 properties in 90 locations. “Debuting with a zero-debt balance sheet and a cash/cash equivalents of Rs 1,500 crore to cater to planned growth and contingency requirements, ITCHL is now listed for trading on the stock exchanges,” ITC Hotels said.
“Today, ITC Hotels operates a bouquet of over 140 properties with over 13,000 keys in over 90 locations. It plans to expand its portfolio to over 200 hotels with over 18,000 keys over the next five years, with approximately 2/3rds salience of managed properties,” ITC Hotels had stated.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds and crypto assets.)
ITC Hotels, listed on January 29, 2025, was removed from BSE indices on February 4, 2025, after failing to hit the lower circuit by the cutoff time. The company debuted with a zero-debt balance sheet and significant cash reserves. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
