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ITC Hotels Shares: If you want to get shares of ITC Hotels, a company that runs a hotel chain by the name ITC Maurya, then today is very important for you. Immediately buy the shares of ITC Limited, the parent company of ITC Hotels, after the opening of the stock market today on January 3, 2025, only then you will be entitled to get the shares of ITC Hotels.
ITC shares will be demerged on January 6
The demerger of ITC Limited and ITC Hotels has become effective from January 1, 2025. But the record date for demerger of shares of ITC Limited and ITC Hotels is 6 January 2025. That is, on Monday, January 6, the shares of ITC Hotels will be separated from ITC Limited and there will be price discovery of the shares of ITC Hotels.
6th January is very special for ITC Hotels
A special trading session will be organized for price discovery of ITC Hotels stock on January 6, 2025. ITC Hotels shares are likely to be listed on the stock exchange in the month of February. Let us tell you that price discovery will be just like how a special session was organized for price discovery of Jio Finance’s stock after the demerger of Jio Financial from Reliance Industries. After the price discovery of ITC Hotels shares, the price of ITC stock will be adjusted.
You will get 1 ITC Hotels stock in exchange of 10 shares
After the demerger of ITC Hotels shares from ITC, an investor holding 10 ITC shares will get one ITC Hotels share. That means an investor who has 100 ITC shares will be given shares of 10 ITC Hotels. January 6, 2025, which has been fixed as the record date for the demerger, will be credited to the demat accounts of eligible investors within a few days after which the shares of ITC Hotels will be credited.
Earlier, in its regulatory filing with the stock exchange, ITC said that the demerger of ITC Hotels will become effective from January 1, 2025. It was told in the regulatory filing that ITC Limited and ITC Hotels Limited have fulfilled all the necessary conditions with mutual consent for the demerger. Approval for the demerger of ITC Hotels from ITC Limited has been received from the Kolkata Bench of NCLAT on 4 October 2024. . The shareholders have approved the decision of demerger of ITC Hotels, a hotel business related company, from ITC Limited. ITC will have 40 percent stake in ITC Hotels. 60 percent stake in ITC Hotels will be given to ITC shareholders.
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