ITC fixes January 6 as record date for demerger of its hotels business
6 days, 17 hours ago

ITC fixes January 6 as record date for demerger of its hotels business

Live Mint  

ITC Hotels Limited and ITC Limited have jointly decided to designate Monday, January 6, 2025, as the Record Date. “We write to advise that the Company and ITC Hotels Limited have mutually agreed to fix Monday, 6 th January, 2025 as the Record Date for the purposes of determining the shareholders of the Company to whom equity shares of ITCHL would be allotted in accordance with Clause 18 of the Scheme of Arrangement amongst ITC Limited and ITC Hotels Limited and their respective shareholders and creditors under Sections 230 to 232 read with the other applicable provisions of the Companies Act, 2013,” the company said in an exchange filing today, December 18. Earlier in October 2024, the Kolkata bench of the National Company Law Tribunal granted its approval for the demerger between ITC Limited and ITC Hotels Limited. Following the demerger, ITC Limited will retain a 40 percent stake in ITC Hotels Limited, while the remaining 60 percent will be directly held by ITC shareholders in proportion to their existing shareholding.

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ITC shares rise as ITC Hotels demerger set for January 1, 2025: Key details
Trending News
1 week ago

ITC shares rise as ITC Hotels demerger set for January 1, 2025: Key details

India Today  

Shares of ITC inched higher on Tuesday after the company announced that the demerger of its hotels business, ITC Hotels Ltd, will take effect from January 1, 2025. DETAILS OF THE DEMERGER In its update to the exchanges, ITC stated that both ITC Limited and ITC Hotels Limited have confirmed that all conditions required under Clause 28 of the scheme …

ITC sets January 1, 2025 as effective date for demerger of hotel business
1 week ago

ITC sets January 1, 2025 as effective date for demerger of hotel business

Live Mint  

ITC Ltd on Tuesday said that the company has fixed January 1, 2025, as the effective date for demerger of its hotel business after receiving an approval order from the National Company Law Tribunal. ITC share price gained over a percent to ₹475.00 apiece on the BSE after the announcement. “The Company has received a certified copy of the Order …

Over 99% of ITC's minority shareholders approve hotel business demerger
6 months, 2 weeks ago

Over 99% of ITC's minority shareholders approve hotel business demerger

Hindustan Times  

ITC’s shareholders approved the plan to separate or demerge the hotel business, Reuters reported. As per media reports, proxy advisory firms Stakeholders Empowerment Services and InGovern Research Services last month asked shareholders to support the demerger proposal, while Institutional Investor Advisory Services opposed the move, the article read. "ITC must provide greater clarity with respect to the size of the …

ITC Q1 Results Highlights: Net profit rises 17.5% to ₹4,902 cr; board approves 25% stake in Maharaja Resort
1 year, 4 months ago

ITC Q1 Results Highlights: Net profit rises 17.5% to ₹4,902 cr; board approves 25% stake in Maharaja Resort

Live Mint  

ITC Q1 Results Live: ITC Ltd announce its April-June quarter results for fiscal 2023-24 on August 14, reporting a rise of 17.5 per cent in standalone net profit at ₹4,902 crore, compared to ₹4,169.38 crore in the corresponding period last year. ITC Q1 Results Live: Hotel biz demerger: approvals and timelines View Full Image Timelines of listing ITC hotels ITC …

ITC-ITC Hotels demerger to unlock value for company, says Nuvama Equities
1 year, 4 months ago

ITC-ITC Hotels demerger to unlock value for company, says Nuvama Equities

Live Mint  

Domestic brokerage, Nuvama Institutional Equities in its recent report highlighted key points from the recent ITC analyst call following ITC and ITC Hotels demerger. The domestic brokerage reported after the ITC analyst call that the demerger of the hotel division creates value for current ITC shareholders. The newly formed company and ITC will both have West Bengal registered offices, hence …

ITC hotels unit stock expected to be valued in ₹15-27 range
1 year, 4 months ago

ITC hotels unit stock expected to be valued in ₹15-27 range

Live Mint  

Brokerages forecast ITC Hotels' share price to range between ₹15 to ₹27 after demerging its hotel operations into a new firm, named ITC Hotels where it will hold 40% ownership and the remaining 60% will be controlled by shareholders directly. The National Company Law Tribunal's scheme of arrangement was given in principle permission by the ITC board on Monday to …

ITC share price continues to fall for second day after hotel unit demerger
1 year, 4 months ago

ITC share price continues to fall for second day after hotel unit demerger

Live Mint  

ITC share price continued its downward movement for the second staright day on July 25, a day after the company officially announced the demerger of its hotel business. “After due consideration, the board accorded its in-principle approval to the demerger of the hotels business under a scheme of arrangement, with the company holding a stake of about 40 per cent …

Why ITC shares fell 4% after hotel business demerger announcement? - Explained
1 year, 5 months ago

Why ITC shares fell 4% after hotel business demerger announcement? - Explained

Live Mint  

ITC officially announced the demerger of its hotel business on Monday, putting all the rumours to rest. “After due consideration, the board accorded its in-principle approval to the demerger of the hotels business under a scheme of arrangement, with the company holding a stake of about 40 per cent in the new entity and the balance shareholding of about 60 …

ITC board gives in-principle nod for demerger of hotels business
1 year, 5 months ago

ITC board gives in-principle nod for demerger of hotels business

Live Mint  

ITC Ltd. board has given in-principle approval for the demerger of its hotels business and to incorporate a wholly owned subsidiary called ITC Hotels. “After due consideration, the Board accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the Company holding a stake of about 40% in the new entity and the balance …

ITC’s demerger for hotel biz underway; shares hit 52-week high; check details
1 year, 5 months ago

ITC’s demerger for hotel biz underway; shares hit 52-week high; check details

Live Mint  

Shares of ITC Ltd rallied over three per cent to hit a 52-week high of ₹480.60 after media reports stated that the company's demerger process for its hotel business is now underway. ITC's hotel business demerger has been cited as one of the key triggers for further potential upside on the stock by analysts. Last year, Chairman and Managing Director …

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