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ITC Hotels Ltd lists at Rs 182 apiece on the NSE. On the BSE, it lists at Rs 188 apiece.
ITC Hotels Share Price.
ITC Hotels Listing: ITC Hotels Ltd on Wednesday listed at Rs 182 apiece on the NSE. On the BSE, it was listed at Rs 188 apiece. It marks a discount of about 31 per cent from its implied price of Rs 260 per share.
Later the stock declined 5 per cent to Rs 178.60 on the BSE.
At the NSE, it went lower by 3 per cent to Rs 172.
The firm’s market valuation stood at Rs 39,126.02 crore.
Demerger of ITC’s hotel business came into effect on January 1, 2025, with January 6 fixed as the record date. The move separated ITC Hotels from the parent entity.
Following this, the equity shares of ITC Hotels will be listed and admitted to dealings on the exchange with effect from January 29, 2025, according to a circular by the National Stock Exchange (NSE).
Separately, ITC, in a regulatory filing, informed that ITCHL received approval from the National Stock Exchange of India Ltd and BSE Ltd for listing and trading of its equity shares effective January 29, 2025.
On January 6, the BSE and NSE conducted a special trading session to discover the price for ITC hotels business post demerger.
ITC Hotels was recently demerged from the ITC businesses, to be listed as a separate entity for value unlocking for shareholders. The stock exchanges NSE and BSE held a special session on January 6, 2025, to discover the price of ITC stock, ex-hotel business.
ITC Hotels has allotted 1,25,11,71,040 equity shares of Rs 1 each to ITC shareholders as of January 6, the record date. The allotment was made at a ratio of one fully paid-up share of ITC Hotels for every 10 fully paid-up shares of ITC.
For example, if a shareholder owned 1,000 ITC shares at Rs 400 per share before the demerger, the total cost of acquisition would be Rs 4,00,000. After the demerger, they would receive 100 shares of ITC Hotels. The cost of acquisition would be split, with Rs 3,45,960 (86.49 per cent) attributed to ITC shares and Rs 54,040 (13.51 per cent) to ITC Hotels shares.
