ITC sets Jan 1 as effective date for demerger of hotels business
This story was originally published at 12:11 IST on 17 December 2024
Register to read our real-time news.Informist, Tuesday, Dec. 17, 2024
--ITC hotels business demerger appointed date will be Jan 1
MUMBAI – ITC Ltd. has set Jan. 1 as the effective and appointed date for the demerger of its hotels business, the company said in a stock exchange filing Tuesday. The National Company Law Tribunal in Kolkata had sanctioned the scheme of arrangement in October.
On Aug. 14, 2023, ITC's board approved the demerger of ITC Hotels Ltd. ITC will retain 40% ownership of ITC Hotels, while shareholders of ITC would hold the remaining 60%.
In Jul-Sept, ITC reported a net profit of INR 50.78 billion on revenue of INR 205.37 billion. At 1204 IST, shares of ITC traded at INR 472.75 on the National Stock Exchange, up 0.5%. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Anand JC
Edited by Namrata Rao
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
