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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 introduced on Saturday, January 11, and the shares had been credited to Demat accounts on Monday, January 13.
ITC shareholders obtained an SMS notification from their depository (NSDL/CDSL) on Monday relating to the credit score of ITC Hotels shares to their Demat accounts.
These ITC Hotels shares at the moment are seen within the Demat accounts of eligible shareholders, however they’re presently proven as a dummy ticker. Shareholders can view the variety of ITC Hotels shares credited to their accounts, though these shares maintain no worth at this second.
ITC Hotels Share Allotment Details
According to the demerger scheme, the share allotment ratio is 10:1. On January 11, ITC Ltd introduced the allotment of ITC Hotels shares to its shareholders who held ITC shares of their Demat accounts as of the document date (January 6, 2025). An alternate submitting by ITC Limited revealed that 125,11,71,040 fairness 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 worth of Re 1.
Under the demerger scheme, ITC shareholders have obtained one share of ITC Hotels for each 10 shares held within the mum or dad firm, ITC.
As of January 11, 2025, ITC Hotels is now not 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 fairness shares of Re 1 every to the shareholders as of the Record Date (January 6, 2025), in accordance with the Scheme of Arrangement below Sections 230 to 232 of the Companies Act, 2013,” stated ITC within the submitting.
“Consequently, ITC Hotels Limited has ceased to be a subsidiary of ITC Limited efficient January 11, 2025,” the submitting added.
ITC Hotels Share Listing Date
ITC Hotels shares will likely be listed on the NSE and BSE, with buying and selling anticipated to begin after the itemizing. While the itemizing date has not but been introduced, ITC beforehand said that ITC Hotels would listing inside 60 days of the demerger approval from the NCLT, dated December 16, 2024. As such, the itemizing is predicted to happen earlier than mid-February 2025.
According to ITC’s newest submitting, ITC Hotels shares will likely be listed on the NSE and BSE as soon as buying and selling permission is granted by the inventory exchanges. Until then, the shares will stay frozen.
Before the itemizing, ITC Hotels shares will seem as a dummy ticker on each the Nifty 50 and BSE Sensex. ITC Hotels will likely be added because the 51st inventory within the Nifty 50 index and the thirty first inventory within the Sensex.
Once buying and selling begins, ITC Hotels shares will likely be excluded from the Nifty 50 and BSE Sensex on the third day after buying and selling begins. If the shares hit the circuit restrict, the exclusion will likely be postponed by two days every time.
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