ITC Hotels listed at Rs 188 on the BSE. In the special pre-open session Rs 200 was the indicative price on the NSE. The de-merged entity was quoted at Rs 250 in the pre-open session on the BSE on January 29. This is more than 7.5% higher than the expectations of market participants of Rs 175.
The consensus was that the share of ITC Hotels would be between Rs 120 and 175. There were a few who suggested a Rs 200 plus number while some saw the prospect of below Rs 100 a share.
Also ReadWhat price will ITC Hotels list at? Here’s what analysts predict
In January 2025, the FMCG & tobacco major ITC demerged its hotel business to create a separate entity ITC Hotels The move was seen as a part of value unlocking for shareholders. The ITC Hotels was de-merged from the parent company ITC in a ratio of 1:10, which means any investor that holds 10 shares of ITC will receive 1 share of ITC Hotels.
Also ReadITC Hotels: Everything that you need to know about ITC’s hotel business
This is a developing story, more details are being added. Please watch the space for updates.
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