ITC Share Price Today: In Focus As Hotels’ Demerger Takes Place Today

ITC shares are set to remain in the spotlight today as the highly awaited demerger of ITC Hotels officially comes into effect on January 1, 2025.

The record date to identify ITC shareholders eligible to receive shares of ITC Hotels has been fixed for January 6, 2025.

ITC Demerger Record Date  
Under the terms of the demerger, ITC shareholders on record as of January 6 will receive one ITC Hotels share for every 10 ITC shares held. To be eligible for these benefits, investors must purchase ITC shares by January 3, 2025.

A Strategic Move to Elevate ITC Hotels
Post-demerger, ITC Hotels will emerge as the second-largest hotel chain in India. The new entity will encompass 140 hotels with 12,965 rooms, including 28 properties with 1,642 rooms added over the past two years. Furthermore, ITC Hotels has ambitious plans to expand its portfolio, with 46 new properties comprising 4,300 rooms in the pipeline, set to become operational by March 2030. This expansion will bring the total to 186 hotels and 17,265 rooms.

ITC Demerger Details 
ITC Limited will retain a 40% stake in the newly demerged ITC Hotels, while the remaining 60% will be distributed among its shareholders.

ITC Demerger Key Dates 
“We write to advise that the Company and ITC Hotels Limited (ITCHL) have mutually agreed to fix Monday, 6th January 2025 as the Record Date to determine the shareholders of the Company to whom equity shares of ITCHL would be allotted,” ITC stated in an exchange filing.

The record date is crucial for investors seeking to benefit from the demerger. The ex-date, marking when ITC shares will trade without the spin-off benefits, is also January 6. To qualify, investors must ensure they hold ITC shares in their Demat accounts by January 3.