ITC Ltd. has officially announced that January 1, 2025, will be the appointed and effective date for the demerger of its hotels business. The company informed the exchanges of this update on Tuesday, December 17, as part of its strategic restructuring plan.
The Kolkata Bench of the National Company Law Tribunal (NCLT) sanctioned the scheme of arrangement between ITC Ltd., ITC Hotels Ltd., and their respective shareholders in October 2024. Earlier, in June 2024, shareholders overwhelmingly approved the demerger, with 99.6 per cent of public institutions and 98.4 per cent of public non-institutions voting in favour of the proposal.
Post-demerger, ITC Ltd. will retain a 40 per…
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