ITC Hotels is set to make its stock market debut as a standalone entry on the NSE and BSE soon. As of the latest development, after the demerger from ITC, ITC Hotels has completed all necessary steps, from share allotment to price discovery, setting the stage for its official listing expected by mid-February 2025.
When is ITC Hotels expected to list?
Earlier, through an exchange filing on January 11, ITC said, “the Board of Directors of ITCHL at the meeting held today i.e., 11th January, 2025, has allotted 125,11,71,040 equity shares of Rs 1/- each to the shareholders of the Company as on the Record Date i.e., 6th January, 2025, pursuant to the Scheme of Arrangement amongst ITC Limited and ITCHL and their respective shareholders and creditors under Sections 230 to 232 read with the other applicable provisions of the Companies Act, 2013.”
As per the demerger scheme approved by the NCLT on December 16, 2024, ITC Hotels has 60 days to list its shares on the exchanges. This sets the deadline for listing no later than February 14.
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ITC Hotels: What price range can investors expect?
The ITC Hotels share price was determined during a special pre-open trading session which was held on January 6. This was the same day as the record and ex-date.
During this session, ITC’s share price on NSE and BSE adjusted. On NSE, it was adjusted by Rs 26 to Rs 455.60. Similarly, on BSE, ITC’s share price saw a Rs 27 adjustment to Rs 455.
Brokerages have shared varied predictions for ITC Hotels’ listing price such as Nomura anticipates the shares could list between Rs 200 to Rs 300. Nuvama expects a range of Rs 150 to Rs 175, while SBI Securities forecasts a price band of Rs 113 to Rs 170.
How were shares allotted to ITC shareholders?
Eligible shareholders of ITC have already received their ITC Hotels shares in their demat accounts.
However, these shares are currently marked as a “dummy ticket” and will remain frozen until the listing date. The allotment ratio was 1:10, meaning that 1 ITC Hotels share was allotted for every 10 ITC shares held as of the record date,
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