ITC allocates 125.11 crore shares of ITC Hotels to shareholders in demerger

ITC Ltd. has allotted 125.11 crore shares of ITC Hotels to its shareholders as part of a demerger, effective January 11, 2025. This separation allows ITC Hotels to operate as an independent entity, now the second-largest hotel chain in India. The share allotment follows a Board decision and a scheme of arrangement. ITC will retain 40% of the hotel shares, while the remaining 60% will be distributed among existing shareholders. ITC Hotels plans to apply for a stock listing after obtaining regulatory approvals. The demerger aims to enhance value and attract investors aligned with the hospitality sector. ITC Hotels operates 140 properties, including luxury brands like ITC Grand Bharat and WelcomHotel.