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Shares of ITC Hotels have been credited to the Demat accounts of eligible ITC shareholders following the allotment
ITC Share Price
Shares of ITC Hotels have been credited to the Demat accounts of eligible ITC shareholders following the allotment. The allotment was announced on Saturday, January 11, and the shares were credited to Demat accounts on Monday, January 13.
ITC shareholders received an SMS notification from their depository (NSDL/CDSL) on Monday regarding the credit of ITC Hotels shares to their Demat accounts.
These ITC Hotels shares are now visible in the Demat accounts of eligible shareholders, but they are currently shown as a dummy ticker. Shareholders can view the number of ITC Hotels shares credited to their accounts, although these shares hold no value at this moment.
ITC Hotels Share Allotment Details
According to the demerger scheme, the share allotment ratio is 10:1. On January 11, ITC Ltd announced the allotment of ITC Hotels shares to its shareholders who held ITC shares in their Demat accounts as of the record date (January 6, 2025). An exchange filing by ITC Limited revealed that 125,11,71,040 equity shares (125.11 crore) of ITC Hotels have been allotted to eligible shareholders.
Face Value of ITC Hotels Shares
Each share of ITC Hotels has a face value of Re 1.
Under the demerger scheme, ITC shareholders have received one share of ITC Hotels for every 10 shares held in the parent company, ITC.
As of January 11, 2025, ITC Hotels is no longer a subsidiary of ITC Ltd.
“The Board of Directors of ITC Hotels Limited (ITCHL) met on January 11, 2025, and allotted 125,11,71,040 equity shares of Re 1 each to the shareholders as of the Record Date (January 6, 2025), in accordance with the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013,” said ITC in the filing.
“Consequently, ITC Hotels Limited has ceased to be a subsidiary of ITC Limited effective January 11, 2025,” the filing added.
ITC Hotels Share Listing Date
ITC Hotels shares will be listed on the NSE and BSE, with trading expected to commence after the listing. While the listing date has not yet been announced, ITC previously stated that ITC Hotels would list within 60 days of the demerger approval from the NCLT, dated December 16, 2024. As such, the listing is expected to occur before mid-February 2025.
According to ITC’s latest filing, ITC Hotels shares will be listed on the NSE and BSE once trading permission is granted by the stock exchanges. Until then, the shares will remain frozen.
Before the listing, ITC Hotels shares will appear as a dummy ticker on both the Nifty 50 and BSE Sensex. ITC Hotels will be added as the 51st stock in the Nifty 50 index and the 31st stock in the Sensex.
Once trading begins, ITC Hotels shares will be excluded from the Nifty 50 and BSE Sensex on the third day after trading starts. If the shares hit the circuit limit, the exclusion will be postponed by two days each time.
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