New Delhi: ITC shares on Monday became ‘ex-demerger’ after the separation of the hotel business (ITC Hotels). The ITC stock will now trade without the value of the hotel business. ITC shares today adjusted to Rs 455.60 (down Rs 26 or 5.4 per cent) on NSE and Rs 455 (down Rs 27 or 5.6 per cent) on BSE.
ITC shares are in focus today after a special demerger trading session wherein ITC Hotels share price was derived. After a long process, the process of demerger of ITC Hotels reached its final stage. BSE and NSE organised a special pre-open trading session for blue chip stocks today from 9 am to 10 am.
The special trading session was meant for price discovery for shares of ITC Hotels, which is being demerged from its parent company. In the restructuring process, ITC will hold 40 per cent stake in its hotel business, while the remaining 60 per cent stake will go directly to the shareholders through rights entitlements. The shareholders will get one share of ITC Hotels for every 10 ITC shares they have in their portfolio.
For around 36 lakh shareholders of ITC Limited, January 6 is the record date for the much-awaited demerger of the company’s hotel business. The ITC Hotels shares will not be listed on the stock exchanges today, but the indices will create a dummy ticker and include it as the 51st Nifty stock and 31st Sensex stock.
The final listing will take place in the next few weeks. Until then, the shareholders will not be able to buy or sell shares of ITC Hotels. The ITC Hotels share price will be calculated based on the difference between the closing price of ITC on January 3 and the opening price of the Nifty stock on Monday after the special session.
Brokerage firm Nuvama expected an adjustment to ITC’s share price to Rs 22-25, reflecting its 40 per cent stake in the hotel business and including a 20 per cent holding discount.
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The demerger of ITC Hotels from ITC Limited concluded on January 6, 2025, with a special trading session determining the initial share price. Shareholders will receive one ITC Hotels share for every 10 ITC shares held. ITC retains a 40% stake, while shareholders own the remaining 60%. The final listing of ITC Hotels is expected in the coming weeks, and its inclusion impacts the Nifty and Sensex indices. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
