On January 6, a special trading session was held to determine the share price of ITC Hotels following the company's demerger. As a result of the session, ITC's share price was adjusted by Rs 26 (5.4%) on the NSE, bringing it to Rs 455.60, down from the previous closing price of Rs 481.60 on January 3. On the BSE, the share price adjusted by Rs 27 (5.6%) to settle at Rs 455, compared to the previous closing price of Rs 482.
For every 10 shares of ITC, shareholders will receive 1 share of ITC Hotels. The new shares of ITC Hotels will be listed separately, though the exact listing date has yet to be confirmed.
ITC will retain a 40% stake in ITC Hotels, while the remaining 60% will be distributed among its existing shareholders. To facilitate the demerger process, ITC Hotels will temporarily be included as a dummy ticker in the Nifty50 and Sensex indices. This move mirrors the earlier inclusion of Jio Financial Services as part of the Reliance Industries demerger.
A special pre-open session on January 6 was conducted to assess the fair value of ITC Hotels. The calculated share price of ITC Hotels is based on the difference between ITC’s closing price on January 3 and its opening price on January 9 after the special session.
