ITC Hotels’ demerger record date is on January 06. The ITC Hotels price will be discovered through a special pre-open session (SPOS). The determination of the price will be calculated based on the difference between the closing price of ITC’s January 03 and the pre-open price of January 06.
The brokerage firm Nuvama Wealth Management indicated that the initial trading price for ITC Hotels’ stock might range from Rs 150 to Rs 175 per equity share.
On January 03, the stock of ITC closed at a price of Rs 483.95, down 1.04% on the National Stock Exchange. The stock has a 52-week high of 528.50, which it touched on September 27, 2024.
“On January 6, 2025, the ex-date for the demerger, ITC’s share price is expected to be adjusted by Rs 22-25, reflecting its 40% stake in the hotel business and incorporating a 20% holding discount. According to our FMCG team, the adjustment is expected to be Rs 18 per share,” said Nuvaman Wealth.
The brokerage house indicated that ITC Hotels may list in a month (or possibly sooner). At present, there is no definitive date for the listing, and it could take a few weeks to receive all the necessary approvals.
Also ReadWhat will be the price of ITC Hotels share? Listing date, price, valuation and all other details
On January 01, 2025, ITC Hotels was demerged from its parent company, ITC. The date of record for this eagerly awaited demerger was set for January 6. If you are an existing ITC shareholder or bought shares before January 03, you get ITC Hotels shares in the demerger ratio of 1:10.
ITC Hotels was established in 1975 and has over 140 hotels across 90+ destinations. The group operates under six brands: ITC Hotels and Mementos in the luxury segment, Storii in the boutique premium segment, Welcomhotel in the upper upscale category, Fortune in the midscale segment, and WelcomHeritage in the heritage leisure space.
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