ITC to demerge hotel business on January 1
Financial Express Chandigarh|December 18, 2024
CIGARETTES-TO-FOODS CONGLOMERATE ITC has finalised January 1, 2025, as the effective date for the demerger of its hotel business, following receiving an order from the National Company Law Tribunal (NCLT), the company said on Tuesday.
FE BUREAU

ITC stated that it had received a certified copy of the NCLT Kolkata Bench's order dated October 4, 2024, sanctioning the Scheme of Arrangement between ITC and ITC Hotels.

Shares of ITC rose after the announcement, which was made during market hours on Tuesday. The stock touched ₹472 per share on the Bombay Stock Exchange (BSE) before closing at ₹469.85 apiece.

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