iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Demerger plan for the hotel business of ITC gets CCI approval

29 May 2024 , 04:54 PM

On Tuesday, the Competition Commission of India (CCI) authorised ITC Ltd’s demerger of its hotel business into a separate firm. Following the demerger, shares of ITC Hotels Ltd, a new corporation, will be listed on the public exchanges. The proposed merger involves the demerger of the demerged entity into ITC’s wholly-owned newly established subsidiary, ITC Hotels.

Following the demerger, ITC Hotels’ shares will be listed. According to a notification on the CCI website, ITC will retain a 40% stake, with the remaining 60% owned by the conglomerate’s shareholders.

In India, ITC operates a diverse range of operations, including FMCG, hotels, paperboards, paper and packaging, and agribusiness.

According to ITC, the proposed merger is simply an internal reorganisation exercise that will have no impact on market dynamics.

In July 2023, leading conglomerate ITC announced that it will demerge its hotel unit by forming a wholly-owned subsidiary, ITC Hotels Ltd.

The company’s board has also approved the formation of ITC Hotels Ltd, a wholly-owned subsidiary that would manage the company’s hotels and hospitality operations, it said.

ITC Hotels, India’s premier luxury hotel company, opened in 1975 and now operates over 115 properties in 80+ destinations under six distinct brands.

ITC Limited is an Indian multinational with its headquarters in Kolkata. It operates in six business segments: FMCG, hotels, agribusiness, information technology, paper products, and packaging. Tobacco goods provide for the vast majority of business revenues.

At around 11.21 AM, ITC was trading 0.23% lower at ₹428, against the previous close of ₹429 on NSE. The counter touched an intraday high and low of ₹431.80, and ₹425.50, respectively.

For feedback and suggestions, write to us at editorial@iifl.com
For opening a demat account click on: https://www.indiainfoline.com/
For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx
For loans, go to: https://www.iifl.com/


Related Tags

  • ITC
  • ITC Demerger
  • ITC hotels
  • ITC news
  • ITC updates
sidebar mobile


Read More

Most Read News

Gold Declines in Early Trade
13 Jun 2024|09:00 AM
Top 10 stocks for today – 13th June, 2024
13 Jun 2024|08:59 AM
Bourses expected to open positively
13 Jun 2024|08:49 AM
Oil Prices Decline
13 Jun 2024|08:47 AM
Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.