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ITC Hotels Demerger News: After the end of the special pre-open trading session for share price discovery of ITC Hotels, the price adjustment of the shares of ITC Hotels, the hotel business company separated from ITC, has been done. ITC Hotels has settled at Rs 26 on National Stock Exchange and Rs 27 on BSE.
Price Discovery of ITC Hotels
A one-hour special trading session was held from 9 am to 10 am on BSE and NSE (National Stock Exchange) for the demerger of ITC Hotels stock. Today is the record date for the demerger of ITC Hotels stock from ITC Limited. Investors who have ITC shares in their demat accounts or record books as on date will be given one ITC Hotels share for every 10 ITC shares.
ITC fell by 5.60 percent
When trading in ITC stock started after 10 am, the stock opened at Rs 455 on BSE, which is Rs 27 less than the previous closing price. Whereas trading started on NSE at a price of Rs 455.60, which is Rs 26 less than the previous closing price. That means a price adjustment of Rs 27 has been seen on BSE and Rs 26 on NSE. When trading in ITC shares started at 10 am, trading in the stock started with a fall of 5.60 percent.
When will ITC Hotels be listed?
ITC Hotels’ parent company ITC has not announced when the company will be formally listed on the stock exchange. But after demerger from Reliance Industries, the listing of Jio Financial took place after a month. According to that, stock exchange listing of ITC Hotels is possible after a month i.e. in the first or second week of February. ITC Shareholders who want to get ITC Hotels shares will soon have ITC Hotels shares credited to their accounts.
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